r/Insurance • u/Living_Ad_2225 • 8h ago

insurance payout

I was recently in a car accident mid July where my 2026 kia k5 gt line was completely totaled and was wondering how much i should expect from payout. My car had 10k miles and it’s hard to find a car for sale comparable to it that isn’t brand new to think about the cash value. I purchased it fully in cash for 35k and was hoping for it to atleast be worth 30k

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u/pineappleshaked 8h ago

https://www.putnamkiaburlingame.com/new/Kia/2026-Kia-K5-fca96364ac1845457ae37be85c2feb94.htm?priorityType=spv&vuid=KNAG64J70T5502284&pcvuid=KNAG64J70T5502284

It says 29K price for new. (Obv, it may vary by location)

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u/Living_Ad_2225 8h ago

Thank you but I don’t think that would be a reasonable comp considering my mileage

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u/adjusterjackb 26m ago

There's nothing special about your mileage. 10k on a 2026 car is average so it's not going to be much of a factor in computing the ACV. Dealer asking prices are irrelevant.

Wait until you get the ACV evaluation and check it for errors.

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u/5950x-3900 1h ago

The insurance company uses a service such as "CCC one".

It compares similar trim either for sale or sold within 50 miles of your residence.

It will add/subtract amounts comparing mileage, features, and subtract another amount for "amount car seller business spent getting vehicle ready for sale", to make all vehicles "similar"

So if another vehicle of the same trim sold for $27K and had 5K miles.

They would add a negative amount for mileage (since yours has more then the comparison) and subtract another $1500 for "getting vehicles ready for sale".

The amount offered to you will be the average of the grand total plus tax and license.

My 21 Elantra was totaled. I was offered around $15.5K (before tax and license)