A vehicle’s “market value” is the amount it could have sold for locally, prior to the accident. To determine that amount, compare similar vehicles on the local market, want ads, or “blue book” values. (“Blue books” publish average car and truck values for a given geographical area, which include “low book” (wholesale) and “high book” (retail) values.) You don’t have to accept blue book values if you don’t feel they are reasonable.
If you plan to shop locally for another car, be sure to rely on local values. Watch for hidden costs such as towing and storage of the wrecked car – be sure those costs are part of your agreement with the insurance company.