How does the vehicle scrapping insurance company pay compensation?

The following is the compensation situation of insurance companies when the vehicle reaches the scrapping standard: 1. The vehicle in the traffic accident caused damage: the insurance company will advocate the "repair-oriented" standard. If the vehicle does not meet the scrapping standard, it will Compensation will be made in accordance with the terms of the contract and the amount of compensation will be used to repair the vehicle. 2. The vehicle damage has reached the scrapping standard: that is, when the estimated repair cost of the vehicle is the same as or higher than the actual value of the vehicle, the insurance company will settle the claim according to the vehicle scrapping insurance. 3. Traffic accidents caused by lack of experience: The cost of repairing one or two parts of many vehicles can reach thousands of yuan. Therefore, many car owners can get some compensation if they purchase car damage insurance reasonably, ranging from deformation of the body part to the scrapping of the vehicle.