More than likely if you are involved with a total loss claim there will be a CCC Market Valuation Report involved. CCC is the insurance business equivalent of Experian, TransUnion, and Equifax who determine consumer’s credit scores. Those three credit reporting agencies determine the credit score of consumers and then provide the information to lenders who then use the information to decide how to handle requests from their customers. One of the next things that I did was try and find out some more about this CCC Market Value Report, I came across this article about Total Loss Claims. (A local copy is here in case the original is removed.) Reading the article was like having somebody document what I was going through and filling in the pieces that were not evident to me. It made me aware of the substantial disadvantage that I was at in the negotiations with the insurance company.
I continued to research into CCC and found this News Station investigation into the company’s role in accident claims. Here’s a local copy of the video:
As I learned more and saw how my situation was fitting with what I had read about I became more determined to proceed carefully and give much attention to all of the information I was being presented with by the insurance company and CCC themselves. The more I dug, the worse the reality of the situation became.