Retinoblastom - Forum

Travis · Mitglied Beiträge: 153

While I am not familiar with Pennsylvania laws for insurance, the last part is right and wrong.

A person is entitled to Actual Cash Value (ACV), which for a vehicle is Fair Market Value (FMV). Basically, what it would cost to buy the same make, model and year in similar condition and with similar mileage. And that will include tax, title and license as those fees would be required to buy a similar vehicle. For older and/or rarer vehicles, this can be more difficult to establish, which is where the adjuster gets to work for his pay.

Now, fair market value is what vehicles actually sell for, not what they are listed for. So even though the exact same car may be listed on Cars.com for $5000, when reviewing transactions it actually sells for more like $4500. Then FMV would be $4500 plus tax, title and license.