The insurance company will make you an offer.
Get a new car. == If someone hit your car you will be paid the actual cash value of the car. If you totaled the car and had collision coverage you will be paid actual cash value, too.
I think it depends on your insurance company. A friend totaled a car and they based the value of 3 or 4 values. Things like Kelly Blue Book and such.
If the accident was your fault you're out of luck. If you were hit by someone, their insurance will total your car and pay you for its actual cash value.
When repair costs exceed 50-75% (depending on the state you live in) of the car's actual cash value before the accident.
If you have the proper insurance or you were hit by someone you will surrender the car and the title to the insurance company and they will pay you the actual cash value of the car before it was hit.
You need to file a claim with your auto insurance carrier. The insurance adjuster will physically examine the vehicle's damage. If the estimated cost to repair all damages exceeds the total value of the car, then the insurance company will total the car. This means they will write you (or the lender) a check for the total value of the car before damages.Most of the above is true but a car is considered totaled when the repair costs exceed 50-75% (depending on the state you live in) of its actual cash value. If it is totaled you will sign the title over to the insurance company and they will take ownership of the car after they pay you.
You will get actual cash value for the car and will sign the title and car over to the insurance company, unless you wish to buy it back for a reduced payout.
Total loss payoff
I don't know if there's a provision but, depending on which state you live in a car is totaled when the repairs cost more than 50-75% of the car's value.
Assuming your question is, "If you have full coverage do you get the full value of the car if it is totaled", the answer is yes. It is important that you understand the what the definition of value is in car insurance. When ever your car is totaled you will get actual cash value at the time of loss. The best resource for determining this is the NADA Guide, www.nada.com. Actual cash value is determined by looking at a combination of items including, determining the pre-loss condition of the vehicle, the book value, and what cars of similar condition sell for in your geographic location. If you have a loan on the vehicle this is not part of the equation.
Your car is considered totaled when it would cost more to fix it than it is worth. when your insurance company says it is or it cost more to fix than it's worth == When the repair costs exceed 50-75% (depending on what state youre in) of the actual cash value of the car.
If you have collision insurance, they will pay out up to 40-70% of the value of the car in repair costs. Over that amount, it is considered totaled., and they cut you a check for the value of the car. The percentages vary with companies, vehicle, etc. You don't have any say in it. If you have only liability insurance, you're on your own for the repairs.