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 Posted: Fri Mar 27, 2009 10:13 pm Post subject: Car a total loss? When is it OFFICIAL???? |
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Hi again,
Insurance adjuster from lady who hit me said he was going to declare my car a total loss? It was by word of mouth he said I could drive my car because everything works light ,mirrors, signals , horn ect..., but if I am pulled I will get in trouble? only minimal cosmetic damage. Now when is it Official total Loss? I have not had a settlement agreement nor have I signed any papers agreeing to anything . My car is legal as far as up to date with Inspection and registration before the accident. Can I drive my car or not and I need to work I live in NH and work in MA ? anybody Help Please? :  |
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smileyme4
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| Posted: Fri Mar 27, 2009 11:45 pm Post subject: |
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States usually require an insurance company to consider a vehicle a total loss when the cost of repairs are 80% of it's value. This amount varies a little in some states. Its very possible on older model vehicles that a dent in a quater panel or the like is going to cause it to be a total loss.
As far as it being driveable, this is up to the state/city you live in. You need working tail lights. You need working headlights to drive at night. The vehicle needs to be in safe operating condition. Other things like a working horn as you mentioned are required. |
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tcope
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| Posted: Sat Mar 28, 2009 8:25 am Post subject: |
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Even with minor cosmetic damages an old car may be deemed as totaled since the cost of repair would cross the ACV of it. You can check its value on the NADA site. It’d give you some idea about its fair market value. Further, you should wait for them to make the first offer. And, then may decide whether you’d be better-off by retaining it or not.
Thanks,
Rupert |
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RupertWBradson
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| Posted: Sat Mar 28, 2009 9:21 am Post subject: |
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Hi,
| Quote: | | Now when is it Official total Loss? |
I guess you got your answer from tcope.
| Quote: | | Can I drive my car or not and I need to work I live in NH and work in MA ? |
I don't think we got enough information to suggest everything regarding this. Whether you may drive it between NH and MA would still depend on a number of factors other than the norms.
How long does it take you to drive to your workplace? How long ago did this mishap take place? See, when it comes to your life and safety we'd need to be absolutely sure of everything.
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ArindamSenIndies
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| Posted: Sat Mar 28, 2009 1:23 pm Post subject: |
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Sounds to me like your vehicle is perfectly legal to drive...I don't understand this 'word of mouth' thing...the adjuster will (soon I would think) let you know the ACV (actual cash value) of your vehicle..You will have first option to buy it back (they would subtract the salvage value and you keep the car) or they can take it...sounds like you'll likely want the money less the salvage value and keep it..
Many states do not require reporting of totaled vehicles to the DMV if they are over a certain age...could well be the case in your state...where you work doesn't matter only the state it is registered in...
When the adjuster calls back with the figures she/he should know the rules in your state.
Let us know if we can help in any way
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Lori
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| Posted: Sun Mar 29, 2009 4:52 am Post subject: |
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it seems like your vehicle is still in rather good condition and highly driveable. however, the vehicle is likely to be considered as a total loss when the repair cost exceeds the ACV of the vehicle. like lori mentioned, the adjuster should let you know the ACV of your vehicle soon. you should get the adjuster to brief you on the regulations in your state.
on much older models, smaller damages may result in declaration of total loss of your vehicle. do keep us updated on the latest situations so we can help you better. i think lori's given rather good and detailed advise. |
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seven7
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| Posted: Mon Mar 30, 2009 4:26 am Post subject: |
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| Quote: | | on much older models, smaller damages may result in declaration of total loss of your vehicle |
many a times depreciation value of the vehicle plays a major role deciding the ACV of the vehicle. in this scenario the car may be or may not be typically 'old' category so we can't predict exactly how much money she will be getting as a compensation.
but it is possible that she should get it done (repairs) through the third party as she has mentioned the damages are only minimal.but still depreciation cost does matter over it.... 
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amit
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