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Here's what it means when your car gets totaled in an accident and who receives the payment afterwards. Subscribe to GEICO: http://on.gei.co/2kvNnOw Step 1: You car is declared a total loss when its repairs cost 80% or more of the total value or are unsafe to complete. Step 2: GEICO calculates your car's value based on its before-accident condition. Step 3: Your GEICO adjuster informs you that your car is totaled and asks you to remove your license plates and possessions. Step 4: Payment. If you own the car outright, you get paid. If you financed or leased the car, the leasing or financing company receives the cash value of the car less the deductible. More info on total losses - https://www.geico.com/claims/claimspr... Start a quote today - https://www.geico.com/landingpage/go4... RELATED VIDEOS: • What to do after an accident - • What to do after a car accident - GEICO • How to report a claim - • How To Report A Claim - GEICO Insurance • How to get your car fixed - • Видео GEICO's been saving people money for over 75 years. See how much you could save: http://on.gei.co/quote Connect with us on... Facebook: / geico Twitter: / geico Google+: https://plus.google.com/+geico Youtube: / geico One more time: subscribe to the GEICO channel to get all the latest commercials automatically! http://www.youtube.com/user/GEICO?sub