Totaled Car Value Calculator
All insurers use a different totaled car value calculator, but the Kelley Blue Book totaled car value calculator gives an estimate. Each state's total loss threshold laws vary, but many require repairs exceeding 75% of a car's value to be a total loss. Below, you'll learn how to use a total car loss calculator.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
UPDATED: Oct 24, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 24, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
After an accident, your insurance company uses a totaled car value calculator to determine your car’s actual cash value (ACV) and decide if it’s a total loss. Often, insurers check state thresholds to decide if repair costs exceed a certain portion of a car’s ACV. 70% to 75% is a common threshold.
The best auto insurance companies use Kelley Blue Book and the CCC Market Value Report to determine ACV.
So, can you find a total loss car value calculator? Do insurance companies use a car insurance valuation calculator? We’ll explain this and how to use a salvage title car value calculator below.
Enter your ZIP code into our free tool above to compare car insurance quotes from top providers.
- There is no universal totaled vehicle value calculator
- All insurers use a different totaled car calculator
- You can use Kelley Blue Book as an ACV car calculator
Total Loss Formula Calculator: What Insurers Consider
Insurance companies will only pay to repair a car if the repair costs would be less than a certain portion of the fair market value. Unfortunately, the industry has no specific total loss calulator for this, and the approach may vary widely depending on each insurance company’s specific car ACV calculator and some state rules.
There's no uniform insurance total loss payout calculator that will apply to every situation. For example, the State Farm car value calculator will be different from the Progressive total loss payout calculator.Michelle Robbins Licensed Insurance Agent
So, how do insurance adjusters determine the value of a vehicle?
To determine the insurance value of a car that has been damaged, insurance companies use services such as Kelley Blue Book (KBB) as their total loss vehicle calculator. They may also use the CCC car value calculator, more commonly known as the CCC Market Value Report.
Alternatively, a professional appraiser may be used as an insurance car total loss value calculator. Other amounts may be added to the equation, such as the cost of title, registration fee, or sales tax.
Read More: How do insurance companies determine car value?
Many insurance companies may have proprietary formulas to help assist as their totaled vehicle calculator. You may get an indication of its approach by looking at the fine print in your policy.
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How State Laws Impact Your Insurance Car Payout Calculator
Certain states employ total value thresholds or total value formulas, and insurance companies that market within those states must consider these rules in their totaled car payout calculator. An insurance company will then use its own ACV car value calculator to determine if it will repair the vehicle or write it off as a loss.
Sometimes, the state will insist on issuing a salvage title for a vehicle if its salvage car value calculator determines damage exceeds a particular threshold. Each insurance company is free to make its own decision if the vehicle repairs fall below the state’s automatic “salvage title threshold.” However, this may determine whether the vehicle is now classified as salvage or whether it retains a clean title.
Hover over your state below to see the total loss threshold percentage:
For example, Indiana state law says that if the vehicle’s repair cost exceeds 70% of its fair market value, it must become a salvage vehicle. This rule also applies if the decision-makers at the insurance company opt not to repair it. In Nevada, the threshold is 65%, and other states use their own formulas.
Read More:
How to Know Who Gets the Residual Value of a Totaled Car
If a company decides that it won’t pay for the damage after using its total car value calculator, it will give you the actual cash value of the vehicle instead, less any deductible you have. If you have leased the vehicle, it’ll make the payment directly to your bank or financing company. If you owe more than the determined value, you’ll need to pay the difference between the insurance payout and your remaining loan balance.
Read More: Replacement Cost vs. Actual Cash Value: Car Insurance
Since a new vehicle can depreciate as soon as you drive it off the lot, you may be at risk if you lease or finance a car that is quickly “totaled” by an insurance company. If you don’t pay off the vehicle as quickly as its value depreciates, you should consider buying gap insurance from your insurance provider. This type of insurance would pay off the difference between your balance and the insurance payout in this situation.
Using a Totaled Car Insurance Payout Calculator at Home
You can get a general idea of what the insurance company is likely to say by comparing the repair estimate to figures that you find in the Kelley Blue Book. This car insurance payout calculator will give you a car value estimate for free, based on your make, model, year, and condition before the wreck.
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More About Using a Car Value Calculator for Insurance
Each insurance company uses its own total loss formula calculator when determining whether a vehicle will be a total loss. Sometimes, the company will consider state minimum thresholds in its car total loss calculator, too.
If you’re planning to file a claim, you can use a totaled car calculator on your own by comparing the mechanic’s repair bill to an online resource like KBB.
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Frequently Asked Questions
Is there a totaled car price calculator for your car?
No, there is no uniform total loss vehicle value calculator that applies to every situation. Each insurance company uses its own formula to calculate the total loss value.
However, you can use Kelley Blue Book as an insurance total loss calculator to estimate the actual cash value (ACV) of your vehicle.
Do insurance companies use a vehicle total loss calculator?
Insurance companies typically compare the damaged car to similar vehicles in the area using databases like the Kelley Blue Book (KBB) or rely on professional appraisers to determine the value. They may also consider additional costs such as title, registration fees, or sales tax.
How does insurance calculate value of a totaled car?
To determine ACV with an actual car value calculator, insurers often subtract depreciation from its market value.
What input do states have in the total loss calculation process?
Some states have specific thresholds or formulas that determine whether a vehicle should be classified as salvage. If the repair cost exceeds a particular threshold set by the state, the vehicle must be issued a salvage title. However, insurance companies can still use their own car totaled calculator to make decisions regarding repair or totaling the vehicle.
Who receives the residual value of a totaled car?
If the insurance company determines that the car is a total loss, they will provide the actual cash value of the vehicle, minus any deductible. If you have a lease or financing, the payment may be made directly to the bank or financing company. If the determined value is less than your remaining loan balance, you’ll need to pay the difference.
Where can I find an insurance payout for totaled car calculator at?
While there is no specific total loss value calculator, you can get a rough idea of the insurance company’s car insurance write off calculator by comparing the repair estimate to resources like the Kelley Blue Book (KBB).
Is my car totaled calculator free?
Yes, services such as Kelley Blue Book offer a totaled car value calculator for free.
Do they use a total loss car value calculator at Progressive?
Yes, companies such as Progressive often rely on data from databases, such as Kelley Blue Book, to determine the fair market value of your totaled vehicle.
What is the State Farm actual cash value calculator?
State Farm, and many other top providers, consider many factors when estimating a car’s value, such as online databases, car age, car make/model, and its condition.
What is the Ohio total loss formula calculator?
Insurers in Ohio use a total loss formula to determine whether a car is a total loss, which is the vehicle’s value minus the salvage value. Providers also consider the extend of damages when using their car salvage value calculator.
Learn More: Ohio Auto Insurance
How do I find the salvage value of my car?
To find your car’s salvage value, contact your insurance company since they have their own insurance car value calculator for salvage vehicles. You can also use an online insurance value of car calculator, such as Kelley Blue Book.
Can you buy back a totaled car, and where can I find a car insurance buy back calculator?
If your car is a total loss, you can use Kelley Blue Book as an insurance buyback calculator to estimate how much it’d cost to buy your car back from the insurance company.
Who has the best insurance total loss value calculator?
The best total loss estimate calculator is subject. However, Kelley Blue Book, Edmunds, and the National Automobile Dealers Association are all respected sources where you can use a vehicle actual cash value calculator.
What is the formula for calculating total loss?
Looking for a totaled car calculator? Many states use the total loss formula to decide if a car is totaled, which is calculated by subtracting the car’s salvage value from its actual market value.
Why do insurance companies deduct salvage value?
Insurers deduct salvage value from their vehicle total loss calculator to determine the amount they can recover by selling the damaged vehicle.
Read More: What do auto insurance companies do with totaled car?
Is a car totaled if air bags deployed?
No, your air bags being deployed won’t be the sole factor in determining whether your car gets totaled. However, if the cost to replace your air bags and other components exceeds a certain portion of your actual cash value, your car could get totaled.
Generally, insurers use their own totaled car insurance payout calculator to decide whether to total your car.
Is actual cash value the same as retail value?
No, your actual cash value is your car’s retail value minus depreciation. Your insurance company will use an insurance car value calculator to determine your car’s fair market value.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
