Auto Insurance Claims: Auto damage claim, auto damage, vehicle options

Question
Hello Sir,
My car was recently totaled by a drunk driver. I was not in the car at the time as it was parked. My question is am I entitled to book value of the car or market value. No dealer I am aware of sells cars at book value. It's always higher. Also, am I entitled to recovering sales tax on the new vehicle as well as title fees and registration fees. Why should I pay for that. What am I really entitled to?
Thanks for your time sir.
                                        Fred

Answer
Hi Fred,

When a vehicle is totaled you are entitle to be paid for the fair market value of your vehicle, sales tax on that amount and title fees.

To determine fair market value you should go to www.autotrader.com where yoy can search for vehicles like yours currently for sale in your area. Select vehicles that closely match your vehicle options, mileage and condition. Then average the value information to achieve an average value in your area.

The insurance company may try to low-ball you on the value. You should request that they send you a copy of whatever they used to determine the value. This way you can check it for errors and then use the information you found to make a counter offer. You should only discuss the value of the car. Once that is settled, then you add the tax and title fees.

I hope this helps
Richard Hixenbaugh