Auto Insurance Total-Loss & GAP Worksheet
Auto Insurance Total-Loss & GAP Worksheet
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Versioned calculationFormula v1.0.0
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Calculated with the versioned 1.0.0 model.
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Method and test recordFormula v1.0.0
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- Not recorded
- Publisher
- CalculatorGeek
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- Definition fixtures
- 1 configured scenarios
- Published examples
- 1 shown below
Recorded method
No tool-specific review method has been recorded.
These records describe the published model and reference tests. A test-case count is not a certification of every possible input or an independent specialist review. Editorial policy
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Method sources
Reference inputs and expected results
Up to 12 examples from the configured definition fixtures are shown. Expected values use the stated output units; invalid inputs are intended to be rejected.
| Case | Inputs | Expected result |
|---|---|---|
| Reference case | Market and currency: us; Insurer-approved vehicle value: 25000 currency; Covered positive adjustments: 500 currency; Collision or comprehensive deductible: 1000 currency; Primary policy payout limit: 100000 currency; Vehicle loan or lease payoff: 28000 currency; Remaining GAP benefit limit: 5000 currency; GAP exclusions and unpaid amounts: 500 currency | Modeled primary insurer payout: 24500; Loan shortfall before GAP: 3500; Modeled GAP payment: 3000; Remaining loan or lease shortfall: 500; Value not paid by primary coverage: 500 (allowed numeric tolerance: 1.0E-6) |
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What this calculator answers
A total-loss payout and a loan payoff are different numbers. This worksheet applies entered valuation, adjustments, deductible and limit, then tests a separate GAP benefit against the remaining shortfall.
Model a total-loss settlement from written valuation and coverage terms without estimating vehicle value or claim eligibility.
Method and calculation order
Primary payout is capped written value plus covered adjustments less deductible. GAP then applies only to the remaining payoff shortfall after entered exclusions and its own limit.
Worked reference example
A 25,000 valuation plus 500 adjustments less a 1,000 deductible produces 24,500. Against a 28,000 payoff, the shortfall is 3,500; a 500 GAP exclusion leaves a 3,000 modeled GAP payment.
How to use the result
Obtain the valuation report, comparable-vehicle evidence, payoff statement, primary settlement and GAP contract. Keep add-ons, late payments and negative equity visible.
What the calculator cannot know
The tool does not value the vehicle, determine liability or coverage, calculate tax, replacement endorsements, salvage, betterment, rental, injury or legal remedies.
Frequently asked questions
Why can I owe money after a total loss?
The payoff can exceed the covered vehicle value and GAP can have limits or exclusions.
Does GAP pay my deductible?
Some contracts do and some do not; enter the written treatment through adjustments or exclusions.
Primary sources and review status
Sources and model boundaries checked 2026-10-08. This new opportunity-map expansion has automated formula, fixture and source QA but has not been represented as human editorial review. Keep the route noindex until CalculatorGeek records a completed YMYL editorial review.