If you have been involved in a car accident, you are entitled to receive compensation for the cost of repairing your vehicle to the condition it was in before the accident.
A car is considered a total loss when the cost of fixing it is more than the car is worth. If you think the insurance company is not offering you a fair amount, you may take the car to two repair shops for estimates; you can also find the fair market price for your car in the Kelley Blue Book.
If your car is totaled, and you find that you owe the bank more than the car is worth, the bank still has the right to demand that you pay the loan in full.
If you have a sentimental attachment to the car or think you can fix it yourself, you may keep what’s left of the vehicle by asking the insurance company to deduct the salvage value of the car from their payment to you.