Under What Circumstances Can a Vehicle Be Declared a Total Loss?

[VanColin]

Actual total loss refers to the complete destruction of the vehicle, making it irreparable. Below is a detailed introduction: 1. Loss after total loss: According to the conventional formula, the loss amount for a total loss = [New vehicle purchase price at the time of the incident - Market price of undamaged new parts] × (1 - Depreciation period × Depreciation rate) - Residual value. 2. Compensation details: Includes repair costs incurred due to damage to the insured vehicle caused by an insurance-covered accident, as well as reasonable rescue expenses (towing fees when the insured vehicle loses normal driving capability, reasonable expenses for using non-professional firefighting equipment during the rescue process, and compensation for damage to third-party property caused during the rescue that should be borne by the insured).