1. 200 POINTS
    Sean Mooney
    Broker, Mooney Insurance Brokers, Philadelphia, PA
    Every insurance company and policy is different but in general if you have a vehicle that sustains a total loss, the insurance company will issue you a check for the actual cash value (ACV) of the vehicle minus your deductible. What is ACV and how does the insurance company calculate this amount? They will take the amount to replace your vehicle and depreciate that amount based on age and condition. Basically, it's the amount that you could get if you sold the vehicle on your own.
    Here are some common sites that insurance companies will use to calculate the value:


    You might also want to check out Ebay because you can look at what similar vehicles sold for in your area. And this should give you a real good estimate for the amount you should expect to receive from the insurance company. And in the end, the more homework you do, the more money you can save.
    Answered on April 4, 2014
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