Total Loss Payout Calculator
When a car is declared a total loss, the insurer pays its actual cash value minus your deductible, not what you paid or what you still owe. Enter your numbers to estimate the payout and your net position.
Total Loss Payout Calculator
How this works
A total loss happens when the cost to repair a vehicle exceeds a threshold set by the insurer, usually a percentage of its value. In that case the insurer pays the vehicle's actual cash value rather than the repair bill. Actual cash value is what the car was worth just before the loss, based on its age, mileage, condition and local market.
The payout is the actual cash value minus any applicable deductible. That payout does not depend on what you originally paid or on your loan balance. If the loan is larger than the payout, the difference remains your responsibility unless you have gap insurance, which is specifically designed to cover it.
This tool uses only the figures you enter. It does not estimate market values or rates. If you are negotiating a settlement, keep in mind that actual cash value is an estimate you can discuss with the adjuster, and that comparable vehicle listings can support your case.
Frequently asked questions
What does actual cash value mean?
It is the market value of the vehicle just before the loss, reflecting age, mileage, condition and local prices. It is not the price you paid and not the replacement cost of a new car.
Does the insurer pay off my loan directly?
The insurer pays the claim, typically to you and any lienholder listed on the policy. If a loan remains, the lender is usually paid first, and any surplus goes to you.
What if I disagree with the value?
You can provide evidence such as comparable listings, maintenance records and receipts for recent work. Many policies also include an appraisal process for disputes.
Does gap insurance pay the deductible?
Often not. Many gap policies cover the difference between actual cash value and the loan balance, but not the deductible. Check the specific policy wording.
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