Does the insurance just decide your car is totaled and that’s it? Can you appeal? What are the consequences of having a car being declared totaled?
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You are insuring your car for its market value (where market value is determined by the insurance company, more or less). The insurance company will not pay you more than that amount to repair damages – thus if cost to repair car exceeds market value they take your car (and sell it to a junk yard, typically) and give you a check for market value. A real killer in this is airbags which are quite expensive to replace – they are one time use only, of course and if you’re in an accident where one or two deploy that right there by itself can be a significant chunk of the car’s market value unless the car is less than a few years old.
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