Auto Insurance Claims: car was totaled, car was totaled

Question
I was hit by a guy who failed to stop at a stop sign. I'm still waiting for the police report to be able to get his name / insurance company,etc.

 I work at an auto repair shop and had my car taken to a body shop that we use. I was told the car will be totaled.
Its a 1998 Toyota Avalon with 125,000 miles. My car was in great shape with no dents or past body work. Interior clean and free of defects.

 The KBB value is around 5000. I searched online and found three like year and model cars with comparable mileage. The cost of these cars is right on the KBB dealer price of 6900. Which value is usually used? Private party,trade in,retail?

 Am I unreasonable to expect to be able to get closer to the 6900? Just wondering what my chance of getting true replacement value are.

Answer
Hello Tom,

Total loss is determined as Fair Market Value. Insurance does not look at KBB or NADA or anything similar to that.

They look at third party value (actual vehicles for sale) in your local market. They will adjust (often deduct) your damage and/or other things that would make your car be worth less (damages, and/or high mileage).

For a detailed explanation of the process, please see: http://www.auto-insurance-claim-advice.com/totaling-a-vehicle.html

Good Luck,

Anne,
http://www.quirogalawoffice.com/
http://www.spokanebankruptcy.org/