When A Car Is Totalled What Does Insurance Pay

Do you still have to pay a deductible if your car is totaled?

Yes, whether your car is being repaired or totaled, you'll always be responsible for paying your car insurance deductible. If the car is repaired, your insurance company will cut a check for the amount of repairs, minus your deductible.

How does an insurance company determine if a car is totaled?

An insurance company determines the value of a totaled car by evaluating how much it costs to repair the car versus the amount the insurance company must pay if it declares the car a total loss. Each insurance company calculates a totaled car's value differently, according to AutoTrader.com.

Should you buy back your totaled car?

If a state does allow individuals to buy back totaled vehicles, which have a salvaged title or a rebuilt title, you can negotiate with the insurance company to see if they will allow you to buy back your vehicle. However, you need to act right away after the car is totaled and before it is sent to a salvage yard.

How much will I get for a totaled car?

The amount you will be paid after your car is totaled equals the fair market value minus your deductible. So, if the total market value of the vehicle was calculated as $9,000 and you had a $750 deductible, you will receive a check for $8,250.

When A Car Is Totalled What Does Insurance Pay

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