Auto Insurance Claims: car, equitable value, damage history

Question
I got in an accident. The car turned in front of me, my right away.  My cat is a 2004 Ford focus sedan. It has been salvaged titled previously buy was repaired. I have a new insurance company. Will the salvage title affect my pay out? Thank you

Answer
Amanda,

Thank you for the question.

I believe it the vehicle’s loss/damage history will likely have a direct affect on the appraised “replacement value” of the vehicle.

A once damaged and repaired vehicle will suffer what is referred to as "diminished value" (which is collectible from the at-fault party) and in cases where the vehicle was previously considered a total loss and repaired, the Actual Cash Value (ACV) will often be substantially less than an identical vehicle which had no such loss history.

I would caution you to do some research on your own as to the "replacement value" (or the amount it would have taken to purchase your vehicle just before the loss) to ensure the insurer provides you a fair and equitable value for your vehicle. They owe what the cost will be to replace it with another just like you had...history, condition, mileage, maintenance history and all.

Additionally, depending upon the laws in your state, they may also owe you sales tax and registration fees (transfer of tags) etc.

Hope this answers your question and good luck in your settlement.