Exactly How is Your Total Loss Payout Figured?
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If you’re in a bad auto accident that causes extensive damage to your car, your insurance company may decide to declare the vehicle a total loss – in other words, that your car is “totaled.”1
This means that the insurance company has decided it’s not worth the cost to repair it. But what does “not worth it” mean, and what factors are taken into consideration?
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: Emily Delbridge
Original Article Posted on: February 10, 2020
Link to Original Article: https://www.thebalance.com/how-is-total-loss-value-calculated-527264
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