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What does total loss mean in a car insurance?

There are various phrases you should be aware with before purchasing a car insurance.

Total loss refers to a situation in which a vehicle has sustained extreme damage.

Here, repairing the damaged car would cost more than 75% of the car's IDV.

IDV is the agreed-upon market price that is less than the car's ex-showroom price. 

It displays the automobile's current market value and gets cheaper over time.

The calculation of IDV is important to a total loss of an automobile.

 An automobile is considered a total loss when it is damaged beyond repairable limits.

Click here to know more about total loss.

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Total loss refers to a situation in which a vehicle has sustained damage to the extent that repairing it would cost more than 75% of the car's IDV. Continue reading to know more about total loss, IDV and its calculation in detail.

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What does total loss mean in a car insurance?

Total loss refers to a situation in which a vehicle has sustained damage to the extent that repairing it would cost more than 75% of the car's IDV. Continue reading to know more about total loss, IDV and its calculation in detail.

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