How will a claim and potential lawsuit go for a vehicle which is only booked on Nada at $17k high retail, but would cost $25k - $35k or more to find a replacement in average condition/poor condition? How would I prepare to fight this should I need to make a claim? What are the insurance company's obligations?
I contacted my insurance company for peace of mind and got none. They claim a total loss on this vehicle would be $15k-$17k at most regardless of how difficult it is to find. They may budge a little with things like aftermarket upgrades.
I have contacted Nada about the inaccuracy of their data. They will continue to misrepresent value because "most people do not find this specific engine type material when buying this vehicle" - True most do not. But there are enough which do, that the vehicle will sell for double what Nada's price is. There are only a dozen of these vehicles for sale in the country right now, all over $25k and for more miles than mine. Nada has slowly increased their price over the last 2 years, but is still off by half of what real replacement cost is.