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If my car is totaled in a collision, will I get treated fairly on the property damage claim?

On Behalf of Atwood Law | Jun 9, 2017 | Car Accidents |

Unfortunately, often the answer is no. When another driver wrecks your car beyond repair, his or her insurance company should pay you the actual cash value of your car before it was totaled. The industry standard definition of actual cash value is “replacement cost” minus “depreciation.” Replacement cost is the amount of money it would take to replace your vehicle with a similar one. Depreciation is the amount of money your car has devalued over time. The insurer also should pay for the sales tax on the new vehicle that you purchase with the insurance money.

If you want to learn more, have questions or to get more tips and have your case evaluated free of charge, call us at 402-476-4400 or go to our car accident page.

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