BLAH-car totaled.

[tlbwriter]

So how was it transporting a washer, 64" TV, or a mountain bike in the trunk. A complete breeze I'm sure.

What an odd thing to say. Why would you assume every family needs to transport a washer, big TV, or mountain bike in the trunk? I buy my car to meet my day-to-day needs, not those "I might need to do this someday" possibilities. When I buy an appliance, I have it delivered. If I need to transport a bike, I'd break it down the same way I break it down to transport it in my SUV, which is probably the same thing you'd have to do to transport it in a hatchback.

 

[tvguy]

You misunderstood me. I'm not saying they are required to replace your car with a new car of the same model. They are required to pay what it would cost to replace your car, in your condition. In other words, if you have a 2005 Honda Civic with no body damage and 60K miles, they are supposed to pay you what it would take to BUY another 2005 Honda Civic with no body damage and 60K miles. If there is a state law that says they're allowed to pay what you would get if you traded that car in at a dealership, that's unfortunate, and I would make sure it IS a law rather than just assuming the insurance company is treating you fairly. I know that's not how my state works.

What you paid is irrelevant (unless you have gap insurance).

No, I didn't misunderstand. They are not obligated to buy you a new car.
Again, it may vary by state, but here in California, if you get "actual cash value" not "replacement value" unless you purchase replacement cost insurance. That would be very close to what a car dealer would BUY your car for, not what a car dealer would SELL your car for. You are absolutely correct, know your state laws, and know what kind of insurance you have.
But in many cases here, it is very unlikely you will get what an identical conditon car costs to purchase (the retail price), you get what the trade in value was.

It's also why there are companies that specialize in classic car insurance. A 1965 Mustang is just a 45 year old car to most insurance companies, with a cash value in the hundreds of dollars, if that. Classic Car insurers have a vehicle appraised at market value, and a market value is agreed to with the customer before the policy is written. So in this case, a car with an actual cash value of say $300 could be insured for $25,000.