How do you know how much damage needs to be done for a car to be considered totalled?
2007-12-12 07:27:08 · 5 answers · asked by jesus_is_my_prozac 3 in Cars & Transportation ➔ Maintenance & Repairs
I have heard that it is a percentage of what the car values at, not if it exceeds?
2007-12-12 07:33:00 · update #1
If the estimate for repair exceeds the market value of the car.
2007-12-12 07:30:03 · answer #1 · answered by soaplakegirl 6 · 2⤊ 1⤋
Generally, the body shop will prepare an estimate and present to the insurance company... is the estimate is greater than 50% of the current blue book value for the vehicle very often the insurance company will total it out and settle that way. Some factors can enter into it such as low mileage and so but basically thats how it goes down.
2007-12-12 15:37:02 · answer #2 · answered by 7 5 · 1⤊ 0⤋
The insurance companies have varying criteria to establish this. I believe the rule of thumb is damage exceeding 75% of the value of the car but don't take that as gospel. Call your company to find out.
2007-12-12 15:36:47 · answer #3 · answered by Otto 7 · 1⤊ 0⤋
If it costs more to fix it, than the Blue Book value, it's totalled....
2007-12-12 15:35:00 · answer #4 · answered by Sophie B 7 · 1⤊ 1⤋
If it cost more to fix it, then what its worth , its totaled.
2007-12-12 15:34:39 · answer #5 · answered by krennao 7 · 1⤊ 1⤋