What happens to my car if my claim is a total loss?
If there's considerable damage to your car, or the repair cost assessed is uneconomical, it may be written off (also known as a 'total loss').
If this happens:
- Depending on your policy and the age of your vehicle, we'll either replace your car, or we'll pay you your car's agreed or market value minus any excess, on-road costs1 (like unused registration and CTP Insurance), input tax credit and unpaid premiums
- Your policy will end and there will be no refund or transfer of your premium. If you pay your premium in instalments, we'll deduct any unpaid amounts from your settlement. If there's secured finance on your car, we'll pay the outstanding loan to the credit provider, and any remaining balance to you
- We keep your damaged car.
The amount we pay you and any deductions that apply will be different based on your level of cover.
We understand that a total loss claim can be unexpected. We'll explain the next steps in detail if we settle your claim this way.
For more information, see our Product Disclosure Statement.
Things you should know
1 Due to different state registration refund processes, no on-road cost deductions apply to cars registered in QLD.