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 Posted: Mon Dec 28, 2009 5:00 pm Post subject: 2003 Ford Taurus Wagon SEL (everything but sunroof) 795000m |
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roof - 79500mi. My left front and back doors and rocker panel was hit. Progressive wants to total it.
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| Posted: Mon Dec 28, 2009 5:18 pm Post subject: |
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My question is "How do I keep them from totalling my car?"
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anonymous Marsha
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| Posted: Mon Dec 28, 2009 5:18 pm Post subject: |
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My question is "How do I keep them from totalling my car?"
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anonymous Marsha
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| Posted: Mon Dec 28, 2009 7:56 pm Post subject: |
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| If the repair cost exceeds the vehicle's value, or is not feasable to repair because of severe damage they have no alternative but to total it. However, you have the option to "buy" it back from Progressive minus the settlement amount and keep type vehicle. |
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Trench
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| Posted: Tue Dec 29, 2009 12:17 pm Post subject: |
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| Quote: | | Progressive wants to total it. |
The only reason they would want to total it, is if it costs more to repair than to total it, and/or the repair costs reaches the state mandated percentage of a total (ie cost of repair meets or exceeds 75% -80% of the vehicles ACV).
If Progressive is the 'other guys' insurance company, you always have the option to use your carrier and collision coverage. Maybe your carriers requirements for a total loss are little different. IMO, it is ALWAYS a good idea to have both carriers determine a vehicles ACV in the case of a total loss, and go with the higher of the two (duh)..
As Trench stated you always have the option of retaining the vehicle. They will subtract the salvage value from your vehicles ACV and you keep the car. Assuming of course that you do not have a lein or if so, your leinholder will allow it (which rarely if ever happens unless you can pay it off). States differ on what will happen with your title, (if you retain)..In my state your vehicle is old enough that the ins. carrier is not bound by state law to notify them or 'brand' your title. But all states are different. If you do decide to retain it, make sure you KNOW what your state requires BEFORE you agree to retain it.
Progressive probably told you the cost of repair, and the ACV (actual cash value) of your vehicle. They also likely have explained (or will) the process of a total loss.
There really is nothing 'you can do' to keep it from totaling.
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Lori
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