How much money will the insurance company pay out for my totaled vehicle?

Answered by Home Insurance, Car Insurance Expert Alexah on February 22, 2021

My Ford Edge has been deemed a total loss after it was hit by a motorist who was texting and driving. How much money can I expect from the insurance company? Will they offer book value or take certain factors into consideration, like the hardship of being without a vehicle?

expert avatar

Alexah

Home Insurance, Car Insurance Expert

Sorry to hear about your totaled Edge. When your vehicle is deemed a total loss, the insurance company will provide you with the fair-market value of that vehicle, which is the amount it would sell for on the open market. They’ll also be able to cover the cost of a rental car for you while you work on getting a new vehicle (within a reasonable amount of time). You may also be able to claim payment for other hardships you might have incurred while being without a vehicle.


Car Insurance

Have an insurance question?

Our insurance agents are ready to help you, for free.

Ask your question, it’s 100% free
Recommended
Thousands of customers saved on average $887/year on their car insurance with Jerry
This app is great, but the customer service is even better! Not to mention convenient! My husband and I got the lowest rate (much lower than the rates I was finding online through my own searches), quickly, and pretty much all through text message! Thank you so much for a hassle free experience👍
Gabriella R.
Find savings (100% Free)
stars4.6/5 Rating on App Store