What is Blue Book?
The Blue Book is a widely recognized resource for determining the market value of used vehicles. Originally published by Kelley Blue Book (KBB), it provides up-to-date information on the trade-in, private party, and retail values of cars, trucks, and other vehicles. This is especially useful for individuals looking to buy or sell a car and for insurance companies when determining the value of a vehicle in the case of a claim.
For insurance purposes, the Blue Book value can be used to assess the replacement cost or payout value in the event of an accident or total loss. Insurance companies may use this guide, along with other valuation tools, to provide accurate settlements for vehicle owners.
It is also a valuable tool for individuals who want to ensure they are getting a fair deal when trading in or purchasing a car, as it reflects the current market trends and demand for specific makes and models.
The Blue Book helps both insurance professionals and car owners understand the true market value of a vehicle, making it easier to evaluate repair vs. replacement options or to determine fair compensation for claims.