Are there key points/places on a vehicle that are looked at closer that others.
2007-04-23 04:33:27 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
My understanding is it is considered totaled when it would cost more to fix the car, then the car is actually worth.
2007-04-23 04:37:16 · answer #1 · answered by Anonymous · 3⤊ 0⤋
The damages DO NOT have to exceed the value of the car for it to be a total loss. That is an overly simplified statement made by people who I assume are not in the insurance claims business.
In MOST states a vehicle has to be considered a total loss by law if the damages are in excess of 70% of the actual cash value (ACV) of the vehicle.
Sometimes a car will be totaled if the drivetrain or frame are severely damaged. In some of these cases the damages could be repaired for under the 70% figure but the insurance company doesn't want to risk putting an unsafe car back out on the road.
2007-04-23 05:46:42 · answer #2 · answered by fighting saints 6 · 0⤊ 0⤋
That is a purely economic decision. If the cost of repairs exceeds a certain percentage of the fair market value, it's considered a total loss. Typically that's between 75% and 80% of FMV. A newer vehicle can sustain considerably more physical damage than an older vehicle and still be classified as repairable simply because of the difference in FMV.
2007-04-23 04:39:41 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
A vehicle would be considered "totaled" when the cost of repairing it would be greater then what the vehicle is worth.
............Transmissions, being one of the most expensive things to fix, usually cause a vehicle to be totaled.
2007-04-23 04:39:14 · answer #4 · answered by mrshinytooth 3 · 1⤊ 0⤋
Repair cost more than Blue book value of car=total
Airbag deployment on an older car.
Excessive large panel damage (Hood, roof, fenders)
Engine damage
2007-04-23 04:36:59 · answer #5 · answered by wizjp 7 · 2⤊ 0⤋
Generally, when the damage equals more than the car is worth.
2007-04-23 04:37:49 · answer #6 · answered by amandafofanda66 6 · 2⤊ 0⤋
when it will cost more to repair it than it would to replace it.
(actually, I think its 10% under that where the 'total' it)
2007-04-23 04:37:09 · answer #7 · answered by bilko_ca 5 · 2⤊ 0⤋
When it either doesn't run or it is so banged up you can hardly recognize it's your car.
2007-04-23 04:45:22 · answer #8 · answered by dude, what? 2 · 0⤊ 0⤋
when they are to expensive to fix or the frame to mes up
2007-04-23 05:00:22 · answer #9 · answered by rod_chef 2 · 0⤊ 0⤋