Actual cash value is generally what your vehicle was worth just before the loss, based on comparable vehicles in your market, adjusted for mileage, options and condition. Insurers often use a third-party valuation report, and in Virginia you're entitled to a copy on request (14VAC5-400-80).
A valuation typically starts with comparable vehicles of the same year, make, model and trim, then adjusts for mileage, equipment, condition and location. Small errors, like the wrong trim level or a missed option package, can move the number.
Confirm the trim, options and mileage. Look at each comparable: is it really similar, and is it local? Check condition ratings and any deductions, and ask how they were determined. Virginia regulations require deductions for betterment or depreciation to be itemized in the claim file (14VAC5-400-80).
Send your evidence in writing: maintenance records, receipts for recent tires or upgrades, pre-loss photos, and listings for truly comparable vehicles. If it's your own policy and you still disagree on the amount, the appraisal clause usually provides a formal way to resolve it.
Your own policy's appraisal clause won't apply to their insurer. Documentation still matters, and you may want to talk with a Virginia attorney.
Three sides to every claim. I've worked all of them. Geoffrey C. Albach has spent 33 years in the industry as an independent appraiser, a former insurance staff adjuster, and a collision repair operations director.
By Geoffrey C. Albach, independent auto damage appraiser · About Geoff
Related guides: Total loss offer too low? · The Appraisal Clause Umpire Process, Step by Step · What Documents to Gather for an Auto Damage Claim · All guides
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Generally, what the vehicle was worth just before the loss, based on comparable vehicles and adjusted for mileage, options and condition.
Yes. Virginia regulation 14VAC5-400-80 requires insurers to provide a total loss valuation on request.
Yes. Send evidence in writing. Under your own policy, the appraisal clause usually provides a formal way to resolve a disagreement over the amount.
General information, not legal advice. Talk to a Virginia attorney about your specific claim.
Call or text Geoff at 434-665-6059. Lynchburg, VA.
