How Much Damage Makes a Car a Total Loss: The Threshold, the Formula, and What Happens Next
A car is declared a total loss when the estimated repair cost reaches or exceeds the insurer’s total loss threshold, which is typically 70 to 80 percent of the vehicle’s pre-accident Actual Cash Value (ACV), though the exact percentage varies by state law and insurance company: with some states setting thresholds as low as 60 […]