Question
Will my insurance have to pay more than the car is worth?
I backed into a 94 Mercedes E320 with a blue book value of less than $1000. Repair bill estimate is over $4000. Will my insurance pay the book value or the higher repair bill?
Answer
Ava joined The Zebra in 2016 as a licensed insurance agent and writer. She now serves as director of insurance content, leading coverage strategy and…
Credentials
- 9+ years of Experience in the Insurance Industry
This can depend. In California, a car is deemed totaled if the cost of repairs plus the scrap value of the vehicle is greater or equal to the actual cash value of the vehicle. Meaning, if your insurance company agrees with the Kelley Blue Book value, it is likely your vehicle will be totaled. If you have collision coverage, you would receive the value of the vehicle minus your deductible, assuming this vehicle is yours.
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