Whatever the percentage, the insurance company will add up the total of your car if the estimated repairs exceed that percentage of fair market value. Other states use a “total loss” formula, which is based on whether the cost of repairs plus the scrapped value of a vehicle equals or exceeds the actual cash value of the car. For example, a car with damage equivalent to 75% of its value is considered totaled in New York, but not in Texas, where the damage must equal 100% of the car's current value. Insurance companies consider car repair costs, residual value, and actual cash value when deciding whether they should be totaled, in accordance with applicable state law.
In these states, Progressive will add your car if the cost of the repairs plus the dismantling value of the car is equal to or greater than its actual cash value. If your state doesn't have a specific total loss threshold, your vehicle will be considered a total loss if the cost of repairs plus the residual value is greater than the car's actual cash value (ACV). In these states, GEICO must add up the total of your car if the cost of repairs plus the vehicle's scrapped value equals or exceeds its actual cash value.