Last updated on May 16th, 2017 at 02:41 pm
In the world of driving, sometimes misfortune strikes and an accident leaves your car in rough shape.
Whether your car resembles an accordion (hopefully not) or the damage is under the hood and therefore less obvious, your car could be considered a total loss.
When your car is damaged to the extent that repair costs exceed the Actual Cash Value – the market value of your car based on factors like pre-loss condition, model and mileage – insurers might determine your car a “total loss.”
To give you an idea of what this phrase means, we’ve created a video that – we feel – correctly illustrates what insurers mean when they assess a “total loss.” Consider this an attempt to find humor in an otherwise un-humorous situation.
Want more information?
Familiarize yourself with the total loss procedure and what it means for coverage options with your Plymouth Rock auto insurance policy.
And, as always, be sure to visit our online dictionary of Auto Insurance Terms and Definitions for meaningful information and videos on common industry terms.
Click here for more information about insurance in your state.