CARFAX, a leader in vehicle history and valuation and part of S&P Global Mobility, announced on April 3, 2025, an enhancement to its Total Loss Valuation Report. The report now includes automated calculation of taxes and fees, streamlining the claims process for insurance professionals.
This improvement, made possible through a partnership with Claim Toolkit, allows claims professionals to more efficiently and accurately incorporate these costs into final settlement amounts. The Total Loss Valuation Report has been widely adopted by insurance companies across the United States since its launch in 2020.
The report helps adjusters determine a vehicle's unique pre-accident value using CARFAX's VIN-specific History-Based Value, which considers factors like trim, options, mileage, condition, and location. This enhancement is available for use in 48 states and the District of Columbia, further solidifying CARFAX's utility in the insurance sector.
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