What are the standards for vehicle damage assessment by insurance companies?
1 Answers
It is based on the standards of the insurance company. The damage assessment results may vary between different claim points of the same insurance company, and even different assessors at the same claim point may produce different results, as the damage is usually estimated visually. More information about damage assessment is as follows: 1. Overview: When an insured vehicle is involved in a traffic accident, the first thing the insurance company does is to inspect the scene and assess the damage to the insured vehicle. Vehicle damage assessment involves a comprehensive analysis of the collision and accident scene based on automotive construction principles, using scientific and systematic professional inspection, testing, and surveying methods, along with vehicle damage assessment data and repair data, to scientifically and systematically estimate the cost of collision repairs. 2. Others: After the damage assessment, the repair cost must be paid first. The repair fee must be paid to the repair shop, and then the insurance company will transfer the compensation to the owner's account under the same name. The insurance company will transfer the money to the policyholder's account within three days. In case of major accidents where the accident liability, insurance liability, and damage assessment amount are determined, and it is difficult to provide the compensation immediately, an advance payment application can be submitted. The insurance company will make an advance payment of no less than 50% of the assessed damage amount within 3 working days.
