Cash Value² means the value of the Vehicle on the Date of Total Loss, prior to its physical damage or theft, as determined by Your  Physical Damage Insurer, plus any amount subtracted from that value due to pre-existing damage to Covered Vehicle, condition  adjustments, and/or the following items if subtracted from the settlement amount: storage charges, towing, recovery fees, salvage payments, and/or other fees and deductions; less Your Physical Damage Insurance deductible up to $1,000, if applicable.

If You do not have Physical Damage Insurance or Your Physical Damage Insurance has either a stated value or a limit of liability that is less than the value of Covered Vehicle on the Date of Total Loss, or does not cover the Total Loss, the Cash Value² is determined by the Program Administrator using the average retail value for a used vehicle in the National Automobile Dealers Association (“NADA”) Official Guide applicable to Your Unit Type, or its equivalent, based on the best information available on Covered Vehicle’s options, age, and condition as of the Date of Total Loss, less Your Physical Damage Insurance deductible up to $ 1,000, if applicable. 

 If We show You that the Physical Damage Insurer failed to pay a fair actual cash value for Covered Vehicle, as determined by the Program Administrator using NADA value or its equivalent at the Date of Total Loss, You may be required to contact the Physical Damage Insurer to request a higher actual cash value and payment.