If My Vehicle Is Declared A Total Loss, How Much Must The Insurance Provider Reimburse Me?
The insurance provider owes you the fair market value of your vehicle before the accident in your local area. The fair market value is defined as what a willing buyer would have paid a willing seller for your vehicle in an open market. You can determine this amount by using dealer quotes and/or newspaper advertisements. In addition, you can also rely upon other auto sales publications, as long as the vehicle being sold is comparable to yours in mileage, condition, options, etc.