Value or replacement cost for my totaled boat trailer.

Under an auto policy, can I only be paid value of my 2002 boat trailer and not the replacement price I had to pay? He unhooked all safety ties and his boat came off his trailer while backing down a steep boat launch ramp, totaling my boat trailer and hitting 2 other vehicles. Looked for used boat trailer, but none to be found. Had to purchase a new one, was being charged $25 a night for me boat at the marina.

Asked on June 2, 2009 under Accident Law, California


L.M., Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If this is your policy, without reviewing the policy, it is difficult to say, but most policies that cover damage to vehicles provide actual cash value (ACV) for the vehicle, not replacement cost.  Whatever the value of the boat trailer was on the day it was damaged would be what the insurance company would pay you, less any salvage value if you kept the salvage.  If it is the responsible party's policy, they, too, are only responsible to pay you the ACV.  They should also pay for your storage of your boat which resulted from the accident.

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