The insurance company will search recent sales in your area of vehicles similar to yours and compare them to current listings to find your car's ACV. Investopedia explains that the actual cash value (ACV) is the resale price of your vehicle before it was involved in a major accident. The insurance company will consider the actual cash value given by both adjusters to decide what your vehicle is worth. A third-party adjuster will also be consulted to ensure that a fair price is given. If they do decide it's totaled, they will appraise its value based on its condition immediately before the accident occurred. They will assess the damages done to your vehicle to determine whether or not it will be considered a total loss. In the end, it's up to the adjuster, but it may be open to discussion.Īn adjuster will be sent by your insurance provider when you report an accident to them. This gives you an idea of what your totaled vehicle is worth.Īlthough, you should keep in mind that there's no clear-cut method for determining the value of your totaled vehicle. Depending on the amount of damage done to your vehicle, it's likely going to be closer to the 20 percent range, according to CarBrain. Figure out what the 20 to 40 percent fair condition value is. To get an idea of what your totaled car is worth, find the Kelley Blue Book value for it in fair condition. Arm yourself with information so you can be well-prepared for dealing with your insurance provider when and if your car is totaled. State regulations may dictate the amount of damage your vehicle can have before it's totaled.īeing involved in an accident is stressful enough.If it will cost more to repair your vehicle than it's worth, they will total it.If the damage is severe and the vehicle can't be safely repaired, it's considered totaled.There are three main factors that insurance companies use to decide when to total a vehicle. This formula may vary from one provider to the next, but not by much. Each insurance provider has a formula for determining whether or not to total your car. They will declare your car totaled if it's not worth the cost to repair it. If you've recently been involved in an accident where your vehicle was badly damaged, you may be wondering how much insurance pays for a totaled car.
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