Can I replace my damaged car with a new car if I get into a not-at-fault accident?

I want to get a new car and was just in a not-at-fault accident. Last time this happened, the other driver's insurance just paid for repairs. Will the insurance company pay me for the value of my vehicle? How long should I wait before going to the dealership?

“Whether the other party’s insurance will pay for the actual cash value of your vehicle or the cost of repairs depends on a few different factors.
The car insurance company will first need to determine who was at fault.
If the other party’s insurance does claim liability, they will send out an adjuster to assess the damage on your vehicle. If the cost to repair the damage is greater than the actual cash value of your vehicle, they will pay you the actual cash value of your vehicle.
If it will cost less than the actual cash value to repair the damage, they’ll typically pay for the repairs.
You’ll need to wait until they have made their decision before moving forward with a new vehicle. If they do decide to repair your vehicle, you can always trade it in or sell it to get a new vehicle. “
Emily Maracle
Answered on May 07, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.

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