[JonW]

Insurance replacement or payoff is a tricky thing. I once had an Intrepid totaled. Farmers Insurance sent me a list of comparatives from area dealers for a similar configuration to what I had. They averaged the price and would give me that as a payoff, or they would arrange that I could buy one of the comparatives at their price. The catch though is that they get a reduced rate (wholesale) price from the dealers. Thus, technically they would replace my vehicle with a similar one or I could take the money they were offering which is below what I could replace it for myself. They're covering their ass by offering the replacement vehicle, but if you take the cash, you get less than the retail cost of replacement.

Had it been a 300C, I would tell them to just replace it. That would have left them paying whatever the market required of them to get me the new vehicle. I'm sure other insurance companies have different ways of handling their replacement vehicles.