If the car meets the following three standards, the insurance company will compensate all the losses.

1, the approved repair fee is greater than or equal to the actual value of your car at the time of the accident.

2. (Estimated rescue cost and approved repair cost) is greater than or equal to the actual value of your car at the time of the accident.

3. It is estimated that the rescue cost is greater than or equal to the actual value of your car when it is in danger.

4. If you have a bicycle accident; Car damage compensation = the actual value of the car at the time of the accident-residual value; In addition, the actual value at the time of the accident = the purchase price of the new car at the time of the accident x( 1- months of use x monthly depreciation rate).

Extended data:

On the ownership of auto insurance claims when the vehicle is scrapped during the loan period;

According to the special agreement in the insurance policy, it is indicated that the first beneficiary of the insurance policy is the company that lends money.

Of course, this is only available in the commercial insurance policy, and, in theory, it is only stipulated in the commercial car damage insurance, and the commercial third insurance is not within this scope. General insurance companies will not separate car damage insurance from commercial insurance.

Insurance companies will ask for proof of repayment, proving that they can repay on time, and they can pay if there is no debt. Generally, the loan company will ask for a copy of the loss list of the vehicle and other materials (just ask the insurance company for these), and then issue a loan repayment certificate or a certificate of agreement to pay.

Who will pay for the insurance when the mortgage car is scrapped?

If it is determined that it has been scrapped, the vehicle loan must be paid off first, and then the mortgage is lifted, and then the vehicle formalities are handed over to the insurance company, which will make economic compensation to the individual. Buying a car by mortgage generally stipulates that the first beneficiary of insurance is a bank or financial company. Because the property right of the loan vehicle is mortgaged to the bank or financial company. If the borrower fails to repay the loan as agreed, the bank or financial company has the right to dispose of the vehicle.

Legal basis:

Article 22 of the Regulations on Compulsory Liability Insurance for Motor Vehicle Traffic Accidents is under any of the following circumstances, the insurance company shall advance the rescue expenses within the liability limit of compulsory liability insurance for motor vehicle traffic accidents, and have the right to recover from the victims: (1) The driver has not obtained the driving qualification or is drunk; (2) The insured motor vehicle was stolen during the accident; (3) The insured intentionally creates a road traffic accident. Under any of the circumstances listed in the preceding paragraph, if a road traffic accident occurs and property losses are caused to the victim, the insurance company shall not be liable for compensation.

What should I do if the car that has not paid the car loan is hit and scrapped? Do you need to repay the mortgage car in advance when it is scrapped?

The car bought by the loan, which was damaged and scrapped in the accident, will not affect the loan contract signed between the lender and the bank. If the car loan has not been paid off by this time, the loan contract with the bank still needs to be continued. In other words, even if the vehicle is scrapped due to a traffic accident, the lender still needs to repay, otherwise it is suspected of breaking the law and should be investigated for legal responsibility.

According to the Civil Code, the borrower shall repay the loan within the agreed time limit. If there is no agreement or unclear agreement on the loan term, the payer may return it at any time; The lender may urge the borrower to return it within a reasonable period of time. If the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest according to the agreement or relevant state regulations.

As for the scrapping of vehicles caused by traffic accidents, you can claim compensation from the insurance company if you buy the corresponding insurance. When the vehicle is scrapped, the insurance company will give relevant compensation according to the price of the vehicle, but this compensation belongs to the lending institution, because when the loan is used to buy a car, the lending institution will fill in the first beneficiary of auto insurance as the lending institution, and all the compensation from the insurance company will solve the car loan problem. If there is any excess, it will be returned to the owner.

What if the mortgage car is scrapped?

If the vehicle meets the following three criteria, the insurance company will pay according to the total loss.

1, the repair cost after damage is greater than the actual value of the vehicle when it is out of danger;

2. The approved expenses plus the estimated rescue expenses are greater than the actual value of the vehicle at the time of the accident;

3. It is estimated that the rescue cost is greater than the actual value when the vehicle is in danger. If it is a unilateral accident, the compensation for car damage shall be based on the actual value of the car at the time of the accident. In addition, the actual value at the time of the accident = the purchase price of the new car at the time of the accident (1- months of use x monthly depreciation rate).

This is the end of the introduction about the scrapping of cars bought with loans and how to scrap cars bought with loans. I wonder if you found the information you need from it?