How does the insurance company compensate if the car is totaled in a collision?

[DelErin]

The compensation standards for a totaled car are as follows: 1. Claim standard: When the repair cost of the vehicle exceeds 80% or more of the vehicle's value, the insurance company will process the claim as a total loss. 2. Insurance compensation: Compensation amount = New car purchase price - Depreciation amount (if the no-deductible insurance is not purchased, a portion will also be deducted). The depreciation amount for the period the vehicle has been used is calculated based on the market new car purchase price × Monthly depreciation rate × Number of months used. The number of months used is counted from the date of vehicle purchase. The depreciation of the insured vehicle is calculated monthly, and any period less than a month is generally not counted as depreciation.