What is the definition of a totaled car?

Answer When an automobile suffers excessive damage higher than its replacement cost, the insurance company would choose to pay the fair value than to pay for costly repairs. This is a totaled car. There i... Read More »

Top Q&A For: What is the definition of a totaled car

The Insurance Definition of Totaled?

Some people think that a car has to be completely crushed for insurance companies to consider it "totaled." The truth is that a car is totaled when it has any damage that would cost more to fix tha... Read More »

What happens when my car is totaled?

After your car is totaled, the insurance will sell it at a salvage dealer auction. With the title branded as salvage, the salvage dealer may repair and resell the vehicle or sell it for parts. You ... Read More »

What happens when a car is totaled?

After a car is totaled, the insurance company pays the named insured the fair market value of the vehicle. If there is an outstanding loan, the first payment is to the finance company to settle the... Read More »

How is the value for a totaled car determined?

After an insurance company deems a car a "total loss," it then sets out to determine the value of the car by calculating a number of different factors.ACVFirst, the insurance company must determine... Read More »