How does insurance compensate for a car that has been totaled in an accident?
2 Answers
Insurance can provide corresponding compensation for a car that has been totaled in an accident according to relevant regulations. Here is some knowledge about insurance compensation: 1. First Category: When the repair costs exceed 80% or more of the vehicle's value, the insurance company will settle the claim as a total loss. 2. Second Category: The vehicle meets the mandatory scrapping standards. According to Article 4 of the "Mandatory Scrapping Standards for Motor Vehicles," registered motor vehicles that fall under any of the following circumstances should be mandatorily scrapped: if they still fail to meet the national safety technical standards for in-use vehicles after repair and adjustment, or if they continue to emit pollutants or noise exceeding national standards after repair, adjustment, or the application of control technologies. 3. Compensation Standard: Compensation amount = New car purchase price - Depreciation amount (if no deductible waiver insurance was purchased, an additional portion will be deducted).
My car was totaled in an accident, and I just finished handling the insurance claim. After reporting the accident, the insurance company sent an adjuster to inspect the car and confirmed it was completely totaled. I had comprehensive coverage, so they compensated me based on the car's market value at the time, but deducted my deductible of 2,000 yuan. The other party was fully at fault, so their insurance covered that part directly. The whole process was quite fast, and the compensation was paid within a week. A reminder to everyone: after an accident, take photos immediately as evidence and call the police to avoid greater losses from delays. Also, when choosing insurance, pay attention to the coverage amount and don’t just go for the cheapest option. Now when buying a new car, I pay more attention to safety features.
