Legal Question in Personal Injury in Virginia

Insurance Settlement 1/3 of Replacement Cost

I Purchased a used 1985 Mazda 626 for my son less than a year ago. Paid $1,300 plus $400 to get it up to my standards. While it was in the shop a UPS truck backed up and hit it. Their Insurance agent says damage is $1,500. And after deducting for the appearance of the car assigned a value of $600 to the car. That's what they're offering. It will be impossible to replace the car for that cost. I figure I'm out $1,000, minimum. Any recourse? They said if we kept the car (it's running) they would only give us $480.


Asked on 4/10/01, 6:53 pm

1 Answer from Attorneys
Bruce Marshall Durrette, Irvin & Bradshaw, P.L.C.

Re: Insurance Settlement 1/3 of Replacement Cost

Your car was "totalled" and you are entitled to its fair market value. Go to the library and get the retail "Blue Book" value. That is the best source and will be the strongest evidence of the value (subject to adjustments as set out in the book and any unusual wear and tear).

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Answered on 6/12/01, 12:41 pm


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