Vehicle Value Analysis Provides Protection for Lienholders Against Total Loss and Property Damage Claims.
What happens when a lienholder repossesses a defaulted vehicle that has previously been damaged or declared a total loss? Insurers often undervalue repairable claims by $8,900 on average, while the under-indemnification on total losses averages $4,300. This can make it feel impossible to recover the investment made on the loan, but lienholders are often unaware that there’s a solution to this dilemma: the Right to Appraisal, a policy right that’s available to the lienholder and/or loss payee. But even for those aware of the Appraisal Clause, how can they ascertain whether hiring an independent appraiser to assess the vehicle’s value is a worthwhile investment?
Vehicle Value Experts is excited to announce the launch of Vehicle Value Analysis (VVA), which provides comprehensive and accurate market value reports to help lienholders value their loan portfolio in the event of a default, repossession or even before a negative event occurs.
“Our VVA Valuation Tools help automotive lenders understand when a carrier has under-indemnified a loss and whether it makes sense to invoke the Right of Appraisal as the loss payee,” explains Russ Parsons, president of Vehicle Value Experts. “
