How is the compensation for a total loss water-damaged vehicle calculated under insurance?

[DylanRose]

If the vehicle has reached the point of being scrapped, the insurance company will compensate based on the actual value of the vehicle. The actual value is the new car purchase price minus the depreciation rate according to the years of use.

[IvanAnn]

My car was flooded last summer, and I filed a claim under the total loss insurance. The whole process went quite smoothly. I immediately called the insurance company to report the incident, and they sent an adjuster to assess the car's condition. After confirming the total loss, they compensated me based on the car's market value at the time of insurance purchase minus the deductible, and I paid 1,000 yuan out of pocket. The key is to keep good evidence, such as photos of the car damage and the flood situation, and avoid moving the car hastily to prevent additional risks. I suggest friends check the flood coverage terms carefully when buying comprehensive insurance and not skimp on basic coverage. If you handle a flooded car quickly, you can get the compensation sooner and replace it with a new car, which is very helpful for safe driving. In short, actively cooperate with the insurance company and keep communication open.