New service provides insurers with ability to use CARFAX data to establish total loss values.
Carfax announced that a new insurance total loss valuation service is now available through its claims-centric web portal. The new product helps total loss adjusters determine a vehicle’s unique pre-accident value using Carfax’s VIN-specific History-Based Value. Carfax utilizes pricing data from millions of used car listings in combination with each vehicle’s unique trim and options, mileage, condition, location and hundreds of other attributes drawn from Carfax’s vehicle history database.
“The existing practice of valuing a total loss vehicle based on the values of a