One of the unfortunate consequences of any serious car wreck is the possibility that your vehicle will be declared a total loss. In these instances Virginia law requires that the responsible insurance carrier compensate you for the retail value of your vehicle just before the car accident. You are not entitled to the replacement cost of the vehicle.
To calculate the retail value, you can calculate this value for yourself by going to NADA.com or using Edmunds.com to make sure that you are not getting shorted by the insurance company. Remember, Virginia law requires that they use the retail value of your vehicle, not the trade-in value!
If you’re having trouble communicating with insurance companies after an accident caused by the negligence of another person, the experienced and professional attorneys at Winslow & McCurry, PLLC can help! Call us at (804) 423-1382 to set up a FREE personal injury consultation.
