Insurance Vehicle Value Calculation
Insurance Value List
The motor insurance value list is a list that indicates the values of the vehicles based on the model, brand and production year of the vehicle. The vehicle value list is published periodically every month. This list, which is essential for motor insurance, which is extremely important for a vehicle, should be known to every vehicle owner. Because the insurance values of the vehicles are determined according to this list. Casco insurance, which is priced by looking at the motor insurance value list, is optional, but it is recommended to have it. When the car insurance is taken out, the damages that may occur in cases such as theft, accident or burning of the vehicle are insured. The list determined by the Association of Insurance and Reinsurance Companies of Turkey (TSB) is also taken as a reference by insurance companies in determining the current value of the vehicle at the time of damage.
What is the Vehicle Insurance Value?
Vehicle insurance value is one of the parameters used to determine the insurance price of the vehicles in the preparation of the insurance policy. It is one of the first terms encountered during the proposal production phase. To find out the insurance cost of your vehicle, you can use this list of vehicle insurance values. At the same time, the car insurance value is checked while taking out the car insurance for the vehicles. The car insurance value list includes the values of vehicles up to the age of 15. Accessories added to the vehicle later and not ex-factory are not included in the insurance price. However, additional premium payments and accessories added later can be included in the insurance.
Vehicle Insurance Value Calculation
The values of the vehicles differ according to the market, so a regularly updated insurance value list is needed for the vehicles every month. According to this list, the new insurance prices of the vehicles are determined. You can use the Vehicle Insurance Value Calculation Tool of Sompo Insurance for the vehicle insurance value inquiry process. You can find out the insurance cost by entering the type, model and brand of your vehicle. After the vehicle insurance value calculation process, you can quickly get an insurance offer from the consultants determined specifically for you.
How is Vehicle Insurance Value Determined?
In order to determine the vehicle insurance value, the make, model and date of manufacture of the vehicle are evaluated. This determination is made by the Insurance Association of Turkey. The vehicle insurance value is determined by the compensation to be paid in the event of an accident. The value of vehicles aged over 15, which are not included in the list based on vehicles up to the age of 15, is determined only by the company that insures the vehicle. It is necessary to know the reference source used by the insurance company in determining the fair value of the vehicle. If this is not stated in the policy, a dispute may arise between the insurance company and the person who insured the vehicle. For this reason, the items written in the policy should be determined in detail with the insurance company in advance by the drivers who insure their vehicle.
Things to Consider While Examining the Motor Insurance Value List
There are some elements that you should pay attention to when examining the motor insurance value list. It is possible to make an accurate assessment of the motor insurance value list by reviewing these elements in detail.
- The values in the list are based on vehicle insurance only and do not cover compulsory traffic insurances.
- In line with this list, the vehicle price is determined and this price is entered into the system in the insurance policy arrangements; In the policy details, it is defined as the current value according to the General Conditions of Motor Car Insurance.
- It is important to make sure that the correct price is used for possible vehicle damage. Thus, there is no difference between the market fair value and the insurance company.
- Insurance value list and market prices are taken as reference in second-hand vehicle purchases.
- In second-hand vehicle sales, the car insurance value list is written in detail on the sales contract.
- Only values specific to the last 15 years are presented in this list. Your vehicle must be under the age of 15 to be included in the motor insurance value list. If you own a vehicle over the age of 15, your vehicle cannot be included in the insurance value list.
Frequently Asked Questions
Why is my vehicle not included in the Motor Insurance Value List?
It is very exceptional that the vehicle is not in the insurance value list, but in some cases, the value determined by the model year of the vehicle may not be included in the list. In general, the vehicle value may not be on the list for reasons such as the lack of a market for the vehicle in Turkey or the special import from abroad. Insurance prices for vehicles not included in the insurance value list are determined according to the vehicles in a similar class, taking into account the demands of the vehicle owners.
With Sompo Insurance, you can secure your vehicle against numerous risks with the appropriate insurance by getting an extended plus motor insurance offer.