Estimate the actual cash value (ACV) your insurer may pay if your car is declared a total loss, after your deductible.
Estimates only.
When an insurer totals a vehicle, they pay the actual cash value (ACV): what the car was worth on the open market just before the loss. ACV is not what you paid for the car, what you owe on it, or what a new replacement would cost.
Your payout is ACV minus your collision or comprehensive deductible. If you owe more on the car than its ACV, gap insurance covers the difference. These are rough estimates only -- not financial or legal advice. Always review your insurer's written valuation report and negotiate if comparable vehicles suggest a higher value.
Insurers use valuation databases (CCC, Mitchell, Audatex) to find comparable vehicles sold recently in your area, then adjust for your car's condition, mileage, and options to arrive at an actual cash value.
Yes. If you find comparable vehicles that sold for more than the insurer's figure, present them to your adjuster. Most insurers will reconsider when given documented comparables. These are estimates only -- not legal advice.
The gap between what you owe and the ACV is called negative equity. Gap insurance is designed to cover this difference. Without it, you are responsible for paying off the remainder of the loan.
You can negotiate, request a second appraisal, or invoke your policy's appraisal clause. An independent appraiser or a public adjuster can help if there is a significant disagreement.
Your deductible is subtracted from the ACV payout. If the other driver was at fault, you may be able to recover your deductible through their liability insurer.
In many states you can keep the vehicle for a reduced settlement. The insurer will deduct the salvage value, and the car will receive a salvage title, which affects insurability and resale.