How is the compensation for vehicle damage insurance calculated?

[McNathan]

Vehicle damage insurance calculates the compensation amount based on the insured amount and the proportion of accident liability. Here is a relevant introduction regarding the compensation for vehicle damage insurance: 1. When the insured amount is higher than the actual value of the vehicle at the time of the accident: The compensation should be calculated based on the actual value at the time of the accident. The specific calculation formula is: actual compensation amount = (actual value at the time of the accident - residual value) × (1 - deductible rate). 2. When the insured amount is equal to or lower than the actual value of the vehicle at the time of the accident: If the insured vehicle suffers a total loss and the insured amount is equal to or lower than the actual value of the vehicle at the time of the accident, the compensation should be calculated based on the insured amount. The specific formula is: actual compensation amount = (insured amount - residual value) × (1 - deductible rate).