Total Loss Payout Calculator Australia

How Total Loss Car Insurance Payouts Work

When your car is deemed a "total loss" (written off), your insurer pays out the market value of the car immediately before the incident - not what you paid for it, and not what it would cost to replace with a new one.

How Market Value Is Determined

Insurers typically reference independent valuation guides (like Glass's Guide or RedBook), recent comparable sales, and the vehicle's condition, age and kilometres to determine market value.

If You Still Owe Money on the Car

If you have a car loan, your insurer typically pays the finance company first, with any remaining balance paid to you. If the payout is less than what you owe ("negative equity"), you may still owe the difference unless you have Gap Insurance.

This is a rough estimate only. Actual payouts depend on your insurer's specific valuation method and your policy terms.