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what is the percentage for a car to be considered a total lo
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PostPosted: Thu Jun 18, 2009 5:54 pm   Post subject: what is the percentage for a car to be considered a total lo  
I was told that my car was not quite at the total percent. So far the estimated damages are $4755.82, what percent to actual cash value is considered totaled?
cmagee7
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PostPosted: Thu Jun 18, 2009 9:36 pm   Post subject:   
Usually 80% but I've heard of some companies going as low as 70%.
tcope
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PostPosted: Fri Jun 19, 2009 3:50 am   Post subject:   
Hi Cmagee7,

What state are you from? Every state has different threshold for considering vehicles as totalled. So if you can let us know the name of your residing state we can offer information relevant to it.

Quote:
So far the estimated damages are $4755.82,


What is the ACV of the car?

~Jeremy
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Jeremy Holter
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PostPosted: Fri Jun 19, 2009 4:09 am   Post subject:   
Hi cmagee7

Like tcope said
Quote:
Usually 80% but I've heard of some companies going as low as 70%.


I would just like to add that your car will be termed totaled if:

  • It is beyond repair and not conforming to safety terms
  • It costs you far more money to repair your car than to buy a new one
  • Your state auto insurance laws determine your car totaled

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sil
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PostPosted: Mon Jun 22, 2009 4:08 pm   Post subject: percent of repairs to ACV  
I live in GA and I'm not sure of the ACV on my vehicle. I looked it up on KBB but wasn't sure which value should be used.
cmagee7
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