How do insurance companies value totaled cars?

High end and classic cars will be treated differently to average cars as they depreciate in value differently, which will be taken into account by the insurance companies. Age of Car. The totaled car insurance value will depend on the age of the vehicle, as it is easy to determine the value of the vehicle according to its type and age. read more

If it costs more to fix the damage minus your deductible than the market value of the car and what the insurance company thinks it can get selling the wreck at the salvage yard, the insurance company will declare it a total loss. read more

The insurance company calculates the total loss ratio, or damage ratio, of the vehicle, which is whether the cost of repairs exceeds the actual cash value of the car. Cars are usually totaled when repairs cost more, but this is not always the case. read more