A motor vehicle is considered a “total loss” if the cost of repairs plus any supplemental claims (such as towing, storage fees, and rental car expenses) equals or exceeds 75% of the vehicle’s fair market value prior to the accident. How Is the Value of a Totaled Vehicle Determined? If the vehicle is determined to be a total loss, the insurance carrier is required to pay the owner of the vehicle the fair market value of the vehicle prior to
