Understanding the Term ‘Totaled Vehicle

You've had an accident and your vehicle is in bad shape. After you report your claim, the insurance company sends out an adjuster to determine if it is worth paying out for the required repairs or instead of paying you for the value of the vehicle at the time of the accident. If the cost of repairs exceeds the value, the insurer may tell you the car is "totaled," even if it doesn't look that way. Before an accident occurs, it is wise for you to learn how insurance companies determine the value of your vehicle, which will mean one…

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