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 Posted: Thu Mar 13, 2008 4:45 pm Post subject: T-boned 99 Civic |
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| The estimate for the damage is at 6900 and the mv is 7700. Is it likely that the insurance company (state farm) will total it out? |
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fwoggee
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| Posted: Thu Mar 13, 2008 6:09 pm Post subject: |
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| Pretty much. That amount is pretty much near the value of the car. When you get an estimate from a garage and they haven't done the work quite yet then they don't know if there is more damage they may not see until they actually start doing the work. $800 doesn't leave much room for play with the price of car parts. Hopefullt for your best interest they will total it out. |
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fireyone
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| Posted: Thu Mar 13, 2008 7:14 pm Post subject: |
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oh yeah this one is gone
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Thu Mar 13, 2008 11:27 pm Post subject: |
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| Since the OP brought up the subject how do they figure out total loss? Is it a percentage? Like say if it cost 60% of the cars value to repair or something along that nature. |
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fireyone
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| Posted: Thu Mar 13, 2008 11:40 pm Post subject: |
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There are about three or four ways to total a car, (or that a car will total) one is an ''economic'' total...ACV, minus the salvage value, is how much you can spend on the repair, one cent over that amount it's totaled. a 'percentage' total most states have laws on the books now, that require a vehicle to total if the cost of repair is a certain percentage of the ACV , lowest I've ever seen is 70% highest I've seen is 80% but some states this percent rule is very complicated (mine included) only certain year vehicles are included, and when using the percent rule, airbags, their labor and sales tax come out...then there is the ''obvious'' total (or OTL) this is a total burn, severe structure damage (ie non serviced firewall, some states full frame replacement)...then the seldom used (anymore) 'political' total...for whatever reason a 'big wig' says total that car...(I haven't seen one of these in over 15 years)....Also some companies have certain rules aside from these like if the vehicle is eight years old and 75% of the sheet metal needs replaced etc..or flood water line reaches the dash, but these are company specfic...
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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Location: Missouri
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| Posted: Fri Mar 14, 2008 10:42 pm Post subject: |
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| Wow there really is alot more to it than I originally thought. On my truck they really wasn't a question. That little car knocked out my drive shaft, put the frame through the bed, deployed all airbags and so on. I knew it was a loss when I literally crawled out of it after the accident. Amazing what too much speed mixed with wet roads can do. My advice to any speeder...SLOW DOWN. |
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fireyone
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