Loss and the CCC Report

CCC

CCC (Certified Collateral Corporation) Information Services Inc. is a company that provides vehicle value repots to insurance companies. They utilize there own methods and develop a value for your vehicle.

CCC Report

Many CCC reports starts with a basic claim header area where the information about the vehicle owner, insurance claim, and vehicle are located. There is the summery section where the report reflects the final dollar value assigned to your vehicle.

Trust the CCC to reflect an accurate value?

There is the condition assessment details section where, there will be a brief comparison between a typical vehicle and subject vehicle.  The comparison will impact the value in a manner that is not completely explain anywhere. But nevertheless results in a dollar value assigned to the increase or decrease in value that the condition of the subject vehicle merits in the eyes of whoever inspected the vehicle. The adjustments in this area of the CCC vary widely with different vehicle conditions & descriptions.

Next, there is the market comparable vehicles summary. This part of the CCC report is clear. They list out all the prices of vehicles that they found. Then they adjust them to “comparable”. The adjust value of the vehicle is averaged out to come up with the market value of your vehicle. Outside of the baseline adjustment, there are mileage and option adjustments. These adjustments can vary widely based on the year, make, model, and location of the vehicle. So pay close attention to these numbers and ask for explanations on them as well.

Reality

The amount in dispute with most total loss claims is not enough for an attorney to get involve and insurance companies know. It can be difficult to persuade a greenhorn or brainwash adjuster that the CCC report is not the gold standard for vehicle values. That they may have been taught that it is. When an adjuster really thinks for themselves. They must realize that CCC only markets to insurance companies and work exclusively for insurance industry.