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How much value does a car lose with hail damage?
I was hoping to sell my car, but a hail storm just rolled through my town and left some serious damage on my car. How much value can I expect my car to lose from hail damage?
Matthew Macgugan · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s always frustrating when factors outside of our control impact our ability to live our lives. While it’s impossible to determine how much value your car would lose without seeing the damage, the value will drop by however much repairs cost. So, if the hail caused $2,500 worth of damage to a car worth $15,000, then the car’s new value would be $12,500.
If you choose to
repair the hail damage
, then you could restore your vehicle back to its original value. While you could save some money by handling minor damage, major repairs should be left to professionals. Luckily, your comprehensive coverage should cover a good chunk of the repair costs—though you’ll likely have to pay your deductible. Unfortunately, your premium will usually increase when you file a claim. To make sure you’re still getting the best rate for the coverage you need, try
Jerry
. A licensed broker, the Jerry app can help you compare personalized quotes from over 50 top providers like Progressive and Nationwide for free. When you find a better plan, Jerry can help you buy your new coverage and even help cancel your old policy.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
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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