Vehicle owners should ensure that they are not under-insuring a vehicle that has appreciated in value due to changes in economic conditions resulting in the inability to replace it in the case of total loss. Care should also be taken to ensure that they are not over-insuring a vehicle that has deteriorated in condition or value resulting in the paying of unnecessarily high Insurance Premiums. Many Jamaicans have learned through experience that many vehicles for sale may actually be incorrectly registered, (Click here for More Info) or may have been tampered with (Click Here for More Info). Being informed of the correct market value prevents conflict with your Insurance Company should a claim situation arise.
The Jamaican Automobile market comprises
Insurance Companies also require owners to do regular valuations due to the high incident of fraud in Jamaica with all types of vehicles. As such, they need to verify that the car you are insuring is still the same car as originally registered and that it is roadworthy.
So safeguard yourself when investing in the purchase of a vehicle!
Visit MSC McKay for information on how to get you valuations reports today.