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to utilize the Red Book and the NADA book when valuating a total loss?

April 26, 2017book loss NADA red total utilize valuating

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to utilize the Red Book and the NADA book when valuating a total loss?

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• Ans: No. Pursuant to Regulation 64, insurance companies are allowed to use a number of different methods when valuing a Total Loss. Although the average of the Red Book and the NADA book is an allowable method available to insurers, it is not the only one. Some of the other methods include a market survey or obtaining “a quotation for a substantially similar vehicle, obtained by the insurer from a qualified dealer located reasonably convenient to the insured.