When is car considered a total loss?

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When is car considered a total loss?

Asked on January 19, 2016 under Accident Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

It's an economic question. The law does not make people "waste" money. So at the point at which it would cost more to repair a car than the car's then-current fair market (or "blue book") value, the car is considered a loss and insurers will "total" it, because people (or insurers) are not required to spend more to fix something then it is worth. 


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