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Important Auto Collision Question

  • Thread starter Thread starter Big Jimm
  • Start date Start date
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Big Jimm

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Some of you must be INSURANCE EXPERTS. I’d appreciate your opinions.

When does an insurance company declare a car “totaled?” I know that “totaled” doesn’t necessarily mean that EVERY nut and bolt has been damaged.

So, where is the line drawn? What is their criteria, like State Farm? How much has to be damaged before it’s considered totaled?

And, if it’s a NEW (current model) wouldn’t that mean that LESS actual damage has to occur for it to be declared “totaled” .. because it would be expected to be brought back to NEW again? (After all, you bought insurance on a NEW car, not a rebuilt one.)

Someone told me that “safety” was also a consideration in declaring a car totaled. Ie: how SAFE is that car after it’s been rebuilt.

Further, I understand that there is often controversy over, 1) the "diminished value" that the accident caused and, 2) being brought back perfectly to "pre-accident condition" after the repair.

Thanks for the information.

Big Jimm
So. Fla.
 
I work in a body shop and from what I hear, most insurance companies will total out a car if the damage exceeds 80% of the cars value. This is book value not purchase price.
 
Volkspanzer said:
I work in a body shop and from what I hear, most insurance companies will total out a car if the damage exceeds 80% of the cars value. This is book value not purchase price.

I'm no expert but that sounds about right. Seems I've heard in the past that if it cost more to make repairs than the value of the auto - it's toast.
 

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