If there is a loan on the car you will owe this difference. YOu can not get replacement cost on a vehilce. Many insurance companies offer coverage to pay this gap in the loan amout and actual cash value of the car.

There is a difference between value of the car and what you owe.

The insurance company only pays the value of the car. The difference between what you owe and what they pay is your responsibility.

(PS. Never roll negative equity into a new car deal. Never take a loan out for a car. Pay cash. Cars go down in value fast)