When the cost of repairing or rebuilding a vehicle exceeds the value of replacing it, insurance companies will declare the vehicle totaled. once determined as totaled, an insurer will pay you for what they valued your total loss at and file with their declared value before issuing final payment. to complete the paperwork process you'll need to fill out form vc-10 declaring how much you're both willing to accept for parts and labor prior to getting repairs started on your car. this will allow each party involved in this process (insurance company, auto dealership that committed these services) an opportunity to submit proposed rates that can be taken into consideration accordingly. if no agreement has
Can you keep your car if it's totaled?
If a car is totaled, it's always best to ask an insurance company.
it depends on the jurisdiction and the type of coverage you have, but generally speaking if your car can't be fixed then it won't be worth anything – which means that the insurer would either demand repayment from you for their costs based on how much they paid for your car at auction or they will simply provide you with a cash settlement equal to the amount for which they insured your risk minus any salvage value. i hope this answered your question. thank you!
Do you get a new car if your car is totaled?
If it's totaled, you'll get a settlement from your vehicle's insurance company.
someone has already asked this question and i don't want to plagiarize.
What happens when your car is totaled and you still owe money?
Hitting a car with your car is called “total mayhem.” when this happens, you're usually screwed. and no, i'm not being overly dramatic – but by the time you read this, at least one person probably will have gotten into an accident that results in their car being totaled. as for whether or not you'll owe money on it when it's all said and done? that mostly depends on who has insurance and how bad the other person was at hitting their brakes (and you weren't paying attention because blah blah blah). if they were pretty bad about regaining control of their vehicle before hitting yours though… well then there's a good chance they don't have insurance, which means we can safely say that if
What happens when your car is totaled and it's not your fault?
if your car is totaled and not your fault, icbc will take a moment to review the report from the other insurance company detail. if their assessment determines you were at-fault for the incident, they will charge you the price of a total loss plus charges for licensing and related fees. if it turns out that you were not at-fault, then icbc still pays fair market value for the total loss– but without all those added costs. quite often in cases where there was no contact between cars and one driver drove away while another driver was in pursuit, we find that the person who left did so because they felt threatened and panicked. the reality is that this never means they are at-fault– just
