How Does Insurance Determine The Value Of A Totaled Car?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    The company looks at the cost of repair and compares it to the wholesale value of the car to determine whether or not to total the car in the event of an accident.  Each company may have a different evaluation in this regard but as a general rule of thumb, that is what they will look at.
    Answered on May 23, 2013
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  2. 7647 POINTS
    Mark Bartlett CLCS
    Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
    In most cases the value of a totaled car is determined by market value. A great way to get an assessment of the value of your vehicle is to go to any online website like Auto Trader and look up a car or several cars (in your area) similar to your own to see it's value. Other factors that may be taken into consideration is how well your car is maintained.
    Answered on September 3, 2013
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  3. 225 POINTS
    James Golden
    Market value (what others would pay for same car) with plus or minus depending on features, condition of vehcle, age, mileage (thats a big one), type of car, quality of car, car been wrecked or under water.....As much as they cost now I recommend that you always get REPLACEMENT COST COVERAGE and you get GAP COVERAGE. ALSO, GET EXTENDED WARRANTY FROM THE DEALER. I have been involved in these issues so many times that I still sit down and cry like a baby. People get it in the back so many times just because they are ignorant of coverages that are available to them...shame shame agents and shame shame tightwad idiots
    Answered on September 4, 2013
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