Actual cash value matters
FSRA says the insurer will not pay more to repair the vehicle than its actual cash value.
Options can depend on purchased coverage
DCPD, collision, comprehensive and endorsements affect how a loss is settled.
OPCF 43 can change depreciation treatment
For qualifying vehicles and losses, this endorsement can remove certain depreciation deductions.
Keep valuation evidence
Vehicle condition, trim, mileage and comparable-market information can matter in a valuation discussion.
Ontario-specific educational summary. Your actual rights and coverage come from the Insurance Act, regulations, the current Ontario Automobile Policy (OAP 1), your certificate, endorsements and the facts of the claim. Do not change coverage based only on a general web article.