Will insurance companies cover depreciated value from an accident that is not your fault if they decide not to consider your car a total loss?

Answer

I am not sure what you mean by "cover". If the car is totalled, it depends on your carrier, as to whether they will charge for depreciation. Most top A++ carriers list cars at "Agreed Value", which means you get the full replacement value for the car, regardless of depreciation.

Answer

Geico and Alstate insurance would not cover the depreciated value of my car, even though it was not my fault. I was told no one does... I don't see why, but they say there is no way to figure out how much was actually lost because your vehicle is now considered to have "one accident". I did ask several dealers if that information matters to them and they said they do take off money for accidents. sorry for the bad news, just another unfair thing in life.

First answer by Terri Mlotek. Last edit by RoyR. Contributor trust: 3208 [recommend contributor]. Question popularity: 89 [recommend question]