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Car Insurance

How do insurance companies determine the value of your car?

After you file a claim with insurance company against the damages of your car in an accident, the company investigates the claim and determines the ‘Actual Total value’ of your car.

Here are the steps followed by the insurance company to determine the ‘totaled value’ of your car:

- When you report a car accident and claim for insurance amount, the company sends an ‘adjuster’ to assess the damage to the car and determine its value.
- He inspects the damage caused by the accident to the car and inspects exterior damage, condition of interiors, tyres, engine, and other mechanical components of the car.
- After inspection, the company decides whether the car should be categorized as repaired or totaled. Generally, a car is totaled if damage is beyond 60-70%.
- The company then determines the Actual Cash Value of the car considering inspection reports, depreciation, mechanical problems, supply and demand of the car in your area.
- You can negotiate with the insurance company with the claim settlement and the acceptable amount.

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