The insurance will pay the lesser of either the value that the insurance company puts on the vehicle or repair cost a vehicle that has been in a collision.

Name: The insurance will pay the lesser of either the value that the insurance company puts on the vehicle or repair cost a vehicle that has been in a collision.
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Question

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This statement is true. Insurance companies will determine the actual cash value (ACV) of a vehicle and will pay either that amount or the cost of repairs, whichever is less.

The Insurance Will Pay the Lesser of Either the Value