You are correct that your collision part of your insurance policy will cover the damages, minus your deductible. Your insurance company will use its own internal rules to determine the actual cash value (ACV) of your vehicle.

The basic guidelines for calculating an ACV is by comparing your vehicle, before the accident, to vehicles in like condition and mileage. This usually includes getting information from local auto dealerships and recent private or dealer sales. The Blue Book or NADA value is also taken into account. To get a good idea of what your car will be valued at look into local sales or a site like Edmunds.com and look up a 1997 Honda Accord in the same trim as what you had.