Car insurance companies in every state must participate in the states assigned-risk pool by taking a certain number of drivers based on the insurers amount of. If you have 16000 worth of damage thats 80 of the fair market value.
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Your insurance company declares your car a total loss when it costs more to fix the damage than the cars actual cash value or when repair expenses are greater than a percentage of its actual cash value also called ACV or fair market value.
. Say your car has a fair market value of 20000.
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Collection Of Auto And Vehicle Calculators State Farm
Collection Of Auto And Vehicle Calculators State Farm
Collection Of Auto And Vehicle Calculators State Farm
