WAC 284-30-3901   Definitions for settlement of vehicle claims.  In addition to the definitions in WAC 284-30-320, the following definitions apply to WAC 284-30-3901 through284-30-3916 .

     (1) "Actual cash value" means the cost to you to replace your vehicle with a comparable vehicle.

     (2) "Comparable vehicle" means a vehicle that is the same make and model, same or newer year, similar body style, similar options and mileage as your vehicle and in as good or better overall condition as established by current data. To achieve comparability, any deductions or additions for options, mileage or condition can only be made if they are itemized and appropriate in dollar amount. An insurer must consider information supplied by you when determining deductions or additions.

     (3) "Current data" means data no older than ninety days from the date of loss.

     (4) "Principally garaged" means the zip code where the vehicle is normally kept.

     (5) "Settlement" means when the payment is actually made to you and/or your lien holder.



[Statutory Authority: RCW 48.02.060, 48.30.010. 03-14-092 (Matter No. R 2002-06), § 284-30-3901, filed 6/30/03, effective 10/1/03.]