What is the claim calculation method for vehicle damage insurance?
2 Answers
Vehicle damage insurance claim calculation methods vary slightly depending on the circumstances. Below is a detailed analysis of claim methods for different situations: 1. Total loss: Actual compensation amount = (Actual value at the time of loss - Residual value) × (1 - Deductible rate). Actual compensation amount = (Insurance amount - Residual value) × (1 - Deductible rate). 2. Partial loss: Compensation amount = (Actual repair and rescue costs - Residual value) × (1 - Deductible rate). (Actual repair and rescue costs - Residual value) × (Insurance amount ÷ New vehicle purchase price) × (1 - Deductible rate).
I've been driving for many years and have filed several claims for vehicle damage insurance. The calculation method is actually based on the cost of repairing the damaged car, and the insurance company will assess the extent of the accident loss. For example, when my car was hit last time, the insurance company sent someone to inspect it and decided whether to repair it or pay the full amount. If it's repairable, the compensation is the repair cost minus the deductible—the portion you have to pay yourself, usually ranging from a few hundred to a few thousand. If the car is totaled, they compensate based on the car's actual market value, taking into account its age, mileage, and current market price. The key is to take photos promptly, report to the traffic police, and communicate clearly with the insurance company to avoid unfair deductions. After each claim, the premium might increase, so I always remind myself to drive carefully—preventing accidents saves more money.
