Q: Why is my insurance only offering me ACV instead of replacement value when I was not at fault in a car crash?
I was in a car crash in February, I was not at fault. My vehicle was a total loss. The other drivers insurance accepted liability but the car replacement cost is being handled by my insurance. Even though I was not at fault, my insurance is saying I am only entitled to actual cash value for the car, instead of replacement value. They are being reimbursed by the other insurance. The ACV isn't even half of what I would need to replace the vehicle.
A: That is most likely what your insurance agreement provides----ACV for a totaled vehicle. That said, this is awfully unfair and to protect your interests, you should contact an accident/injury lawyer or a general practice attorney or a bad faith insurance attorney in your area and discuss your specific situation to make sure that your insurance company is handling this properly and also to make sure your rights are protected and that you maximize your recovery whether it's against your insurance company or against the other insurance company. Good luck.
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