BUSINESS + ECONOMY

Is your car more likely to be totaled during the winter?

Jan 12, 2024, 8:00 PM | Updated: May 29, 2024, 11:33 am

Cars drive through a snowstorm in Salt Lake City on Jan. 10, 2024....

Cars drive through a snowstorm in Salt Lake City on Jan. 10, 2024. With used car prices high and winter making roads dangerous, is your car more likely to be totaled by insurance companies after a crash? (Marielle Scott, Deseret News)

(Marielle Scott, Deseret News)

SALT LAKE CITY — With used car prices still high and winter weather making roads more dangerous, is your car more likely to be considered totaled by insurance companies after a crash?

According to Alex Meade with Miller Insurance Group, car value has gone up around 52% since 2020. He said he’s seen a slight bump in total losses. However, it’s not as simple as we think.

“It’s shifted … because the values have gone up,” he said. “Typically, vehicles aren’t totaled until they reach a certain percentage of [their] value. That value varies by company.”

Meade has seen anywhere from 75% to 90% of the total value depending on the company. Factors to be considered are the inflation of prices of parts, shop labor and availability of those parts.

So the answer is- it depends on how bad the wreck is, but snowy roads increase the risk.

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Is your car more likely to be totaled during the winter?