What Is a Totaled Car?

A totaled car is a car that would cost more to fix than it is worth, or a car that cannot be repaired safely or cost-effectively. For example, if a car is worth $10,000 and the repairs would cost $11,000, the insurance company would declare the car totaled because the repairs cost more than the vehicle's value. The insurer may then reimburse the vehicle’s “actual cash value,” which is what the car was worth prior to being damaged.

Key Things to Know About Totaled Cars

• Insurance adjusters are the ones who determine whether a car is totaled.
• Totaled cars can be covered by comprehensive, collision, or property damage liability insurance, depending on the situation.
• If your totaled car has a loan or lease balance, your insurer will first reimburse your lender or lessor.
• You may have the option to keep a totaled car, but it’s unlikely to be worth it.

Capital One SavorOne Credit Card Review Summary

The Capital One SavorOne Cash Rewards Credit Card is a very good option for saving money on what you eat, provided you have the good or excellent credit needed for approval. SavorOne gives you 3% cash back on entertainment and restaurants of all types, 3% back at grocery stores and on popular streaming services, and 1% back on everything else, in addition to a $200 bonus for spending $500 within 3 months of account opening. It doesn’t charge an annual fee or a foreign transaction fee, either. In contrast, the average cash rewards card offers 1.11% back on all purchases, plus an initial bonus of about $209.

What Is Uninsured Motorist Property Damage?

Uninsured motorist property damage, or UMPD, is a type of auto insurance that pays for damage to your car or other property if it is damaged by a driver without car insurance. UMPD can cover damage to the policyholder’s vehicle as well as stationary objects that they own, including their house and fence.

Uninsured motorist property damage insurance is commonly purchased with underinsured motorist property damage insurance, which applies when the at-fault driver is insured but does not have enough liability insurance to cover the policyholder’s expenses.

What Is a Car Insurance Deductible?

A car insurance deductible is the amount of money you’ll pay out of pocket for an accident before your insurance company pays the rest. For example, if you file a claim for $1,500 and you have a $500 deductible, you will have to pay the $500 deductible before your insurer will cover the remaining $1,000 balance.

Key Things To Know About Car Insurance Deductibles

• The average car insurance deductible is $500.
• Not every type of car insurance uses a deductible.
• The higher your car insurance deductible is, the lower your car insurance premium will be.
• If you’re at-fault in a collision, you can’t avoid paying your deductible.
• Most drivers pay a deductible when they’re not at fault, but there are some exceptions.

The cheapest cars to insure are the Subaru Forester, Dodge Grand Caravan, and Honda Odyssey, according to WalletHub’s analysis of 26 popular vehicles.

Cheapest Cars to Insure in 2021

• Subaru Forester
• Dodge Grand Caravan
• Honda Odyssey
• Ford Escape
• Toyota Sienna
• Toyota Highlander
• Toyota Tacoma
• Jeep Grand Cherokee
• Chevrolet Tahoe
• Nissan Versa

Comparing cars based on expected insurance costs is important for anyone shopping for an affordable vehicle, as the difference in annual premiums between the cheapest and most expensive cars to insure could be as much as $1,500 per year. In other words, the car with the cheapest sale price might not be the cheapest overall, with all costs considered.

EDITOR’S RATING

0 / 5

PROS

• Relatively low APRs: 6.79% - 21.99%
• Up to 72 months to pay loans off
• Quick funding
• Available nationwide

CONS

• Origination fee of up to 2%
• Requires good or excellent credit

Axos Bank Personal Loan Review Summary

Axos Bank personal loans are an option for people with good or excellent credit, as the minimum credit score required is 700. The loans have a very reasonable APR range, at 6.79% - 21.99%, and the bank offers up to $50,000 in funding. Axos Bank personal loans do have the possibility of an origination fee, which is quite uncommon for loans that require good credit, but the fee only ranges from 0% to 2% of the loan amount.

Delta Platinum Amex Review Verdict

The Delta SkyMiles® Platinum American Express Card is a valuable addition to any frequent Delta flyer’s wallet. In return for the $250 Platinum Delta SkyMiles annual fee, cardholders get an annual Delta companion certificate, a free checked bag on Delta flights, and a fee credit for either Global Entry or TSA PreCheck, among other benefits.

Delta Reserve Review Verdict

The Delta SkyMiles® Reserve American Express Card is a high-end travel card that’s best for high-spending loyal Delta Air Lines customers who enjoy airport lounge access. In return for the card’s $550 annual fee, Delta Reserve cardholders get a free first checked bag and priority boarding on Delta flights. Moreover, cardholders are rewarded with complimentary access to The Centurion Lounge and Delta Sky Clubs with the purchase of a Delta flight charged on the card, a 20% rebate on most in-flight Delta purchases, and a regular fee credit for either Global Entry or TSA PreCheck, among other perks.

Milestone Credit Card Review Summary

The Milestone Credit Card is a pretty good unsecured credit card for people with bad credit. The Milestone Mastercard has a $300 credit limit, does not require users to place a refundable security deposit, and charges lower fees than many other credit cards for building or rebuilding credit.

EDITOR’S RATING

2.4 / 5

PROS

• No credit check
• Accepts people with bad credit
• No prepayment fees
• High BBB rating

CONS

• Extremely high APRs: 59% - 160%
• Small loan amounts: $1,000 - $4,000
• Not available to people without SSN
• No joint applications
• Only available in 37 states & D.C.

OppLoans Review Summary

OppLoans offers expensive, unsecured installment loans for people with bad credit. OppLoans does not do a hard credit inquiry as part of their application review process, making it easy to get approved, and funding is fast, taking just 1 to 2 business days. But OppLoans is far too pricey to consider, as their interest rates range from 59% to 160%.