Cash value after total???

Hey guys, and girls,

My adult daughter had her car stolen. It was used in a theft, damaged, and found after about 4 days. Police are releasing it in a day or two. Insurance company said they would pay cash value minus deductible if they totaled it. I think it’ll be 50/50 on what the insurance company decides regarding totaling. It doesn’t look that bad, but private party KBB is only spabout $7.5k

My question is... what value is most relevant for “cash value”. Is it trade in, private party, black book?

Thanks

 

Depends on your insurance company mine is almost always private party with additions/subtractions for mileage and condition. Seen a few nicer vehicles get totaled for more than private party book. A lot will depend on the particular market area

 

Appreciate it. I don’t know who she carries, but she did get the notice that they totaled it. Waiting now on their offer.