My partner recently had an accident in a 2005 Toyota corolla (not at fault) and I want to know the likelihood of it being determined a 'total loss'. The insurance company has stated that it will be about 10k damage or more, the suspension was snapped and the wheel positioned at 45 degrees, the car nearly rolled and the motor has dropped on one side, transmission seems shot and lhside front quarterpanel looks like foil. Will it be a total loss ? do the Ins co take a recommendation from the repairer? can this be disputed? help would be appreciated.
2007-02-12 19:44:48 · 3 answers · asked by R B 2 in Cars & Transportation ➔ Insurance & Registration
The repair shop will notify the insurance of the estimate of repairs after tear down and if they believe the car to be a total. The insurance company will run reports letting them know for sure if its a total or not. Based on what you write, it most likely is.
2007-02-13 15:59:32 · answer #1 · answered by bundysmom 6 · 0⤊ 0⤋
You won't know if it's a total loss (officially) until the repairing-garage issues an estimate of how much it will take to fix the vehicle.
1. Look up the current market value of your 2005 Toyota Corolla in http://www.nada.com
2. Compare the resulting value against the amount ($$) of the repairs.
3. If the repairs equal to 80% of the number (or higher) than the amount you valued your vehicle at -- then the answer is YES.
You can sing "Bye Bye Miss American Pie..." to your car.
2007-02-13 00:36:20 · answer #2 · answered by rob1963man 5 · 1⤊ 0⤋
My friend you know the answer to this. Yes.
2007-02-12 19:50:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋