Insurers use actual cash value, which takes into account depreciation and other factors, to determine how much they’ll pay if ...

which is the same metric used to determine if the car is a total loss. The ACV of the car is determined by its pre-loss market value, less depreciation from when it was new. Ultimately, the ACV of ...

A new report indicates that the share of car insurance claims in which the vehicle was considered a total loss by insurance companies is on the rise. Per a report from Axios, which cites data ...

On a more pragmatic note, is a repair possible and could the car be returned to a near new condition ... the car was immediately declared a total loss. When the repair cost is at and around ...

Your new car smell won’t last forever ... you’re paid out the value of the vehicle after a total loss, not what you owe on a car loan or lease. Gap insurance can help bridge the gap between ...

It may prefer to call it a total loss if the cosmetic damage will be ... if the payout you receive won’t cover the cost of a new vehicle. The question is, are you out of luck in this situation?