If repairs to your vehicle would cost more than 70% of the value of the car – e.g., the car is worth $10,000 and the repairs are $7,001.00 — expect the insurance company to offer you the fair market value of your vehicle, as it will be considered ‘totaled’ or a ‘total loss’.
Fair market value is the Private Party Kelley Blue Book (?KBB?) value of your vehicle. If your vehicle doesn’t appear in KBB, then an estimate of what your vehicle would sell for by a private party will be done. Newspaper ads, Craigslist, Auto Trader, etc. may be used for this.
The injury attorneys at Phoenix Accident and Injury Law Firm near you have significant experience in helping clients who need help settling their personal injury claim after an auto accident, after being a DUI or nursing home abuse victim, or after having experienced a drug recall. Our offices are conveniently located in nearby Chandler, Peoria, and North Phoenix, and we can meet in-person at our nearby offices, over the phone, or video call. You can contact us for a free consultation, or read on to find out more.
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