if insurance totalledmy car what will they pay trade in value or dealer / retail selling price
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
if insurance totalledmy car what will they pay trade in value or dealer / retail selling price
Asked on July 3, 2009 under Accident Law, Ohio
Answers:
L.M., Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
They will pay what is referred to as Actual Cash Value, or ACV. Insurance companies differ, but many base the ACV on Kelley Blue Book or similar resources, comparing the same year, make, model and features. If you disagree on the value, you can dispute it by providing documentation from dealers, ads on the Internet and newspapers.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.