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How do you value your car for car insurance?

I’m curious as to how I estimate the value of my car. How can I figure out the value of my car so that I know my insurance is getting it right?

avatar
Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! Your insurance company measures your car’s worth by its actual cash value or ACV.
Your car’s ACV is your car’s pre-collision value as determined by the company, minus whatever
deductible
you’re required to pay for your comprehensive or collision coverage.
Your insurer takes into account things like usage, past accidents, and general wear and tear, meaning that the ACV they come up with will often be much less than what you paid. This is part of why some drivers choose additional coverage to make sure their car is covered no matter what.
Most companies use industry formulas to calculate ACVs so it’s hard to predict. However, you can still make sure that you’re getting the best deal possible through the
Jerry
app—we’ll get you customized quotes from top insurers in seconds, so that all you need to do is pick the one that works best for you. And once you choose one, we’ll even help you switch!
Best of luck with getting the best deal on your insurance—you’ve got this!
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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