284-30-391  <<  284-30-392 >>   284-30-393

WAC 284-30-392

Information that must be included in the insurer's total loss vehicle valuation report.

The insurer's total loss vehicle valuation report must include:
(1) All information collected during the initial inspection assessing the condition, equipment, and mileage of the loss vehicle;
(2) All information the insurer used to determine the actual cash value of the loss vehicle;
(3) A list of the comparable motor vehicles used by the insurer to arrive at the actual cash value. This list must include:
(a) The source of the information used;
(b) The date of the information;
(c) The contact information for the seller, the comparable motor vehicle's vehicle identification number, or both;
(d) The seller's asking price;
(e) The sold price, if available; and
(f) The location or contact information for each comparable motor vehicle at the time of the valuation.
(4) When the insurer uses a computerized source for determining statistically valid actual cash values after meeting the requirements of WAC 284-30-391 (2)(b)(iv):
(a) The source must provide a list of comparable motor vehicles used to determine the actual cash value. If more than thirty comparable motor vehicles are used, only thirty must be listed.
(b) Any supplemental information must be clearly identified with a separate heading.
(c) Any weighting of identified vehicles to arrive at an average must be documented and explained.
[Statutory Authority: RCW 48.02.060 and 48.30.010. WSR 09-11-129 (Matter No. R 2007-08), ยง 284-30-392, filed 5/20/09, effective 8/21/09.]
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