Glossary term
Total loss
Total loss: When repair cost exceeds a threshold of the car's value; the insurer pays ACV minus deductible.
Where this term matters
Guides and entries on this site that use the term.
Guide
When You Need Full Coverage
Situations where collision and comprehensive are worth it: financed or leased cars, cars you cannot replace from savings, newer vehicles, high-theft and weather areas.
Guide
Gap Insurance and Full Coverage
What gap coverage does when a financed car is totalled, who needs it, what it costs from an insurer versus a dealer, and when to cancel it.
Entry
$500 vs. $1,000 Full Coverage Deductible: How to Decide
Compare a $500 vs. $1,000 deductible for full coverage car insurance. See how premium savings, out-of-pocket risk, and break-even math affect your decision.
Entry
Totaling a Financed Car with Full Coverage: How Payouts Work
Learn what happens when you total a financed vehicle with full coverage insurance, how actual cash value payouts work, and when gap coverage protects you.
Entry
The 10-to-1 Rule: When to Drop Full Coverage on Your Car
Learn how the 10-to-1 rule helps you calculate whether collision and comprehensive car insurance are still worth paying for as your vehicle depreciates.