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The Water Cooler
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So There I Was, Coming Home From Spencer's BBQ...
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<blockquote data-quote="inactive" data-source="post: 3158729" data-attributes="member: 7488"><p>Some use Kelley but more often NADA. Most skip books and use <a href="https://www.cccis.com/insurance-carriers/apd-claims/evaluate-review/valuation/ccc-one-valuation-private-passenger-vehicle/" target="_blank">CCC One valuations</a>.</p><p></p><p>Statute here: <a href="https://law.justia.com/codes/oklahoma/2014/title-36/section-36-1250.8/" target="_blank">https://law.justia.com/codes/oklahoma/2014/title-36/section-36-1250.8/</a></p><p></p><p>2. An insurer may elect a cash settlement based upon the actual cost, less any deductible provided in the policy, to purchase a comparable motor vehicle, including all applicable taxes, license fees and other fees incident to a transfer of evidence of ownership, or a comparable motor vehicle. Such cost may be determined by:</p><p></p><p>a.the cost of a comparable motor vehicle in the local market area when a comparable motor vehicle is currently or recently available in the prior ninety (90) days in the local market area,</p><p></p><p>b.one of two or more quotations obtained by an insurer from two or more qualified dealers located within the local market area when a comparable motor vehicle is not available in the local market area, or</p><p></p><p>c.the cost of a comparable motor vehicle as quoted in the latest edition of the National Automobile Dealers Association Official Used Car Guide or monthly edition of any other nationally recognized published guidebook.</p></blockquote><p></p>
[QUOTE="inactive, post: 3158729, member: 7488"] Some use Kelley but more often NADA. Most skip books and use [URL='https://www.cccis.com/insurance-carriers/apd-claims/evaluate-review/valuation/ccc-one-valuation-private-passenger-vehicle/']CCC One valuations[/URL]. Statute here: [URL]https://law.justia.com/codes/oklahoma/2014/title-36/section-36-1250.8/[/URL] 2. An insurer may elect a cash settlement based upon the actual cost, less any deductible provided in the policy, to purchase a comparable motor vehicle, including all applicable taxes, license fees and other fees incident to a transfer of evidence of ownership, or a comparable motor vehicle. Such cost may be determined by: a.the cost of a comparable motor vehicle in the local market area when a comparable motor vehicle is currently or recently available in the prior ninety (90) days in the local market area, b.one of two or more quotations obtained by an insurer from two or more qualified dealers located within the local market area when a comparable motor vehicle is not available in the local market area, or c.the cost of a comparable motor vehicle as quoted in the latest edition of the National Automobile Dealers Association Official Used Car Guide or monthly edition of any other nationally recognized published guidebook. [/QUOTE]
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