Is my car totaled or can it be fixed?
Following a car accident, a vehicle may be declared a total loss if the cost of restoring it exceeds a specific percentage of its worth. This is referred to as the "complete loss threshold."
Each state has its own threshold, which differs from one another. Some jurisdictions base the threshold on a percentage of the vehicle's pre-accident worth, while others base it on the vehicle's value after repair. If your vehicle is ruled a total loss, it is critical that you understand the process and your consumer rights.
If your vehicle is totaled, the insurance provider will cover the outstanding loan debt. After that, the insurance company will take possession of the car and sell it for salvage. The insurance company will then deduct the amount they paid for the car from the sum outstanding and repay you the difference.
If your car is considered a total loss, the insurance company will give you a cheque for the estimated value of the vehicle. If you feel this figure is incorrect, you can have a Vehicle Valuation Professional evaluate your car and establish its value.