Since your 1996 vehicle was declared a total loss in the accident caused by the other party their insurance company should settle with you for the actual cash value (ACV) of the vehicle. The ACV is determined by the fair market value of your vehicle in the condition it was in immediately before the accident that totaled it out, which is not normally the amount you paid for the car when you purchased it.

Their may be exception if you just purchased the car before the accident occurred, then the value may be determined to be what you paid since if you recently bought the car then the adjuster may determine that is what fair market value is.

If you bought the car many years ago, perhaps as a new car in 1996, then the usual way would be used to determine its value.

The ways in which insurance companies determine the actual cash value of a vehicle vary in their methods. The typical ways in which the claims adjuster will calculate the actual cash value are: comparing your vehicle to local sales of the same model car in similar condition and with similar mileage, blue book or Nada guide values and/or a computerized evaluation process.

Every insurance company has their own internal rules that are used to determine actual cash value (ACV) of a car that is a total loss. As mentioned earlier the adjuster determining ACV will take into account the effect of depreciation due to wear, condition and age.

The claims adjuster for the at-fault party's insurance company should be able to give you details on how they will determine your car's value for the settlement since they have decided to total it out.