Total Loss of Car


My Car Was Totaled. What Is The Insurance Payout?

My Car Was Totaled. What Is The Insurance Payout?

No one wants to see their car totaled. First, let’s fully clarify what it means if your car is “totaled”: After an accident, if the cost of repairs exceed 70% of the value of the car, insurance companies would deem it a total loss. For example, if the car is worth $20,000 today, and the total cost of repairs tallied by the auto shop exceeds...

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