To get an idea of the total value of your car, calculate the value of the Kelley Blue Book in good condition. Calculate the reasonable condition value of 20 to 40 percent. According to CarBrain, depending on the amount of damage caused to your vehicle, it's likely to come closer to 20 percent range. The value of your car is key to determining whether your damages justify a total loss classification, but how do you determine that value? It turns out that most insurers only consult their securities database.
These values are created with your benefits in mind. When they declare your car a total loss, they'll pay you the value of your car minus your deductible. Then they'll scrap the car and sell it in exchange for parts, keeping all the money they earn that way.
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