If ones car is written off in an accident, a statement such as "We have used the Glass's guide for valuation of your vehicle" is expected from the insurance company one is dealing with. Looking at the Glass's web site, there are at least 3 different potential valuations:
Here, apparently the price it would fetch at a car auction like this:
Comparison of average auction sales price and Glass's trade residual values
Here, apparently the price a customer would be offered by a car dealer as part of a trade in deal:
Get the right trade-in price every time with Glass’s tried, tested and trusted data applications that help you identify used vehicles.
Here, apparently the price a customer would purchase a car from a car dealer:
Our live retail pricing is the market's most powerful data set. It combines our most accurate, real-time values.
I am confident all three of these values would be different.
Does Glass's produce multiple valuations? Is there one of these values that is more usually used in insurance valuations? Does it matter if you dealing with your own as part of a fully comprehensive insurance policy or with someone else's as an injured party?
