by lisaa_ritchie » Tue Sep 07, 2010 11:43 pm
My daughter had an accident and she was not at fault. Her car was totaled and the insurance company wants to pay cash value and NOT replace the car. Is that acceptable. I was under the impression that they had to at least replace my car and the amount they are offering will not replace it.
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Posted: Wed Sep 08, 2010 12:03 am Post Subject:
Do they physically have to replace the vehicle? No. By "replace the car" do you mean give you an amount of money that you could go out and buy the exact same vehicle? Yes... this is the same as actual cash value.
What are the basing their amount on? Have you reviewed their information to confirm that it's correct or not? Keep in mind that "asking" prices are not the same as the price the vehicle will sell for. So seeing an ad for $10,000 does not mean the value of the vehicle is $10,000.
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