My car is totaled, and my insurance company cut me a check that is more than KBB value. How do I record this in Mint?

My 2005 Toyota Avalon (all paid for) was listed in Mint as $7,273 automatically before the accident, but State Farm cut me a check for $10,034.06 after deeming it a "total loss". Should I just "delete" the car as the check is deposited?

Answer

Hi adachi86,

Do not delete the car, as this will remove its historical record from your account and throw off your past net worth. Instead, simply set its value to 0 as it is no longer in your possession and the check is deposited into your account - if the account it was deposited into is also being tracked in Mint, it will record this amount and total it into your net worth appropriately.

Regards,
Mint Mike

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