Vehicle Appraisal & Insurance Valuation in Mississippi

The measure of automobile physical damage in Mississippi depends on the applicable policy and claim circumstances. For total-loss claims, the relevant measure is generally the ACV of the vehicle immediately before the loss — the fair market value a willing buyer would pay a willing seller in the applicable market.

Mississippi Insurance Department guidance addresses how insurers handle automobile physical-damage claims, including the use of ACV and repair cost in determining the appropriate settlement. An independent appraisal can examine the available evidence and develop an objective opinion of value.

If the applicable automobile insurance policy contains an appraisal clause, that contractual provision governs the availability and procedure of the appraisal process for disputes about the amount of a loss. Mississippi does not establish a universal statutory automobile Right of Appraisal independent of policy provisions.

A typical policy appraisal clause allows each party to select an independent appraiser when there is a disagreement about the amount of a loss. If the appraisers cannot agree, they select an umpire. The appraisal process addresses the amount of the loss — not coverage questions.

Mississippi has rules governing a policyholder's right to choose a repair facility. The Mississippi Insurance Department provides guidance on repair-shop choice in the context of automobile physical-damage claims. The current MID guidance sets out the specific requirements applicable to a given claim.

Whether a Mississippi automobile insurance claim supports a diminished-value recovery depends on the applicable policy, the type of claim (first-party or third-party), and the facts of the case. Mississippi does not establish automatic diminished-value entitlement independent of applicable law and policy provisions. Questions about legal entitlement should be directed to a qualified attorney in Mississippi.