Your vehicle's been written off? How does SGI decide its value?

When your vehicle has been damaged in an accident and isn’t feasible to fix, or stolen and not recovered, SGI assesses the actual cash value of your vehicle and pays you for your loss (less your deductible, if applicable).

When SGI writes off a vehicle, the decision is based on four factors:

1. The cost of repairing the vehicle;
2. The estimated salvage value of the damaged vehicle;
3. The market value of the vehicle immediately prior to the loss; and
4. Loss of use (rental) costs.

How do we value your vehicle?

We use a comprehensive database from ADP Autosource, an independent provider of valuation services, to help determine the market value of your vehicle. ADP Autosource has valued millions of cars, trucks, classic and specialty vehicles since 1981.

SGI uses the Autosource database because it offers values on over 30 million vehicles annually, with over 750,000 vehicles added per week. The database evaluates all factors to come up with an accurate vehicle price.

Before SGI submits the vehicle information to ADP for valuation, the adjuster will go over your vehicle’s options and condition with you to reach agreement on the condition of the vehicle, including mileage, etc. The adjuster will also want to see copies of repair bills for your car, excluding regular maintenance, as this can play a role in valuing the vehicle.

Factors used in the calculation of value include:

• Exterior condition
• Interior condition
• Condition of mechanical components
• Condition of tires
• After market equipment
• Options
• Mileage

What do we need from you?

Any recent invoices (within one year) for major repairs to motor, transmission, steering, brakes, suspension, exhaust system, electrical system or repainting of the vehicle should be brought to the attention of your adjuster as they may impact the market value of your vehicle. The value of your vehicle could also be affected by any aftermarket speciality equipment you may have added. Please provide your adjuster with the original invoices. Normal maintenance such as oil changes, tune ups and belt and hose replacement would not affect the market value of your vehicle.

The SGI adjuster reviews the value received from ADP to ensure it is appropriate and then contacts you with the offer of settlement.

The adjuster will provide you with a copy of the ADP valuation package for your information so you can see how the vehicle was valued, including examples of similar vehicles that have been offered for sale.

If you’re not happy with the price offered, you may use arbitration to resolve the situation. Two appraisers – one appointed by you and the other by SGI – will choose a mutually acceptable umpire and the three individuals will render a decision.

It is important to remember that you can represent yourself in the arbitration process.

Both you and SGI share the costs of the umpire equally. SGI cannot regulate the costs of the umpire, however costs range from $50 to $150 each. If the parties cannot agree on an umpire, either party can ask the courts to appoint one.

The decision reached is binding upon both SGI and you.