How to Claim for a Total Loss Vehicle?

1 Answers
SanRemington
07/30/25 9:53am
Insurance vehicle suffers total loss. If the insured amount is higher than the actual value at the time of the accident, the compensation will be calculated based on the actual value at the time of the accident. The compensation is calculated according to the insured amount, i.e., Claim Amount = (Insured Amount - Residual Value) * Accident Liability Ratio * (1 - Deductible Rate).
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