Auto Insurance Total Loss
Estimates auto insurance payout for total loss by FIPE table Brazil.
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Auto insurance total loss
In Brazil, an auto insurer calls a car a "perda total" (total loss) once the repair bill goes past 75-80% of FIPE market value. The indemnity then comes to 100% of the FIPE Tabela figure for the month of the loss, with the franchise deductible taken off. The rules come from SUSEP Circular 256/2004, and the insurer has 30 days to pay once your paperwork is complete.
Once the indemnity is paid, the salvage belongs to the insurer through sub-rogação (CC art. 786). You have to report the accident within 7 days or you risk losing coverage. At DETRAN the vehicle gets reclassified as "sucata" code 7, meaning parts only, and it can never be relicensed.
Applications
SUSEP, ANSP (Academy of Insurance Studies), B3 Resseguros, Susep Resolução CNSP, mediation via Susep.
FAQ
How long does the insurer take to pay? 30 days counted from full documentation. If the insurer misses that window, SELIC interest kicks in under SUSEP rules.
Can I keep the wreck? Yes. You get the value minus the salvage estimate, and a 75-80% loss can count as "perda parcial" if you hold on to the vehicle.
Does it cover non-paid installments? The lien holder, usually the bank, is the first beneficiary up to whatever was financed.
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