How does your insurance company value your car after a total loss?

GOD forbid this should happen to you, but if your vehicle is treated as a total loss (also know as a “write-off”), it is because the cost for the repair is higher than 75% of the actual cash value of the vehicle, or it has sustained so much damage, making it unsafe and not roadworthy.

We really hope you won’t ever be involved in this situation, so it is best to be aware of some important aspects, and to be really clued up. For example, Liberty Seguros recommends contracting third-party with theft, fire and total loss, because, in cases where the client has third-party coverage only and it is their fault, you will have no right to compensation.

However, in the event that the loss is due to the fault of another person, you would be entitled to compensation for total loss, even if you have only contracted third party cover.

Most insurance companies compensate the total loss with the sale value of the vehicle, but bear in mind that after three years of your car’s life, depending on the car, it may have depreciated by up to 50% or more, so your compensation won’t be that good!

On the other hand, choosing the right insurer can make a big difference. In the case of Liberty Seguros, within the first two years after buying your new vehicle, you will be compensated with the value of your car as if it were new. And from that point on:

If the vehicle is up to three years old: you will be compensated with 80% of the value of your car when it was new

If the vehicle is up to four years old: you will be compensated with 70% of the value of your car when it was new

If the vehicle is more than four years old: you will be compensated with the cash value, plus 30%

What’s more, in case of total loss, Liberty Seguros does not deduct any type of excess. Although no one wants to lose their car because of an accident, it’s always better to think about what different insurance companies can offer you, especially if you have just bought a new car!

Just think, you will feel more content knowing that your car will still be worth the price you paid for it, for up to two years after you bought it. Apart from all these advantages, Liberty Seguros has an extensive network of over 300 brokers and agents that are dedicated to providing unbiased, friendly and expert advice.

Speaking your own language, too, these brokers are available to discuss your needs, face-to-face, and which is the best cover to suit you.

With insurance, not only for car and home, but also life, pet, business, commercial, leisure, public liability and personal injury, today Liberty Seguros is considered, by far, the expat’s number-one choice in Spain. To find out more, or to receive a no-obligation quote, visit or to find out the location of your nearest broker, simply call 91 342 25 49.



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Posted by on May 25 2018. Filed under Motoring. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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