Car a total loss? When is it OFFICIAL????

Posted: Fri Mar 27, 2009 11:45 pm Post Subject:

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.

Posted: Sat Mar 28, 2009 08:25 am Post Subject:

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

Posted: Sat Mar 28, 2009 09:21 am Post Subject:

Hi,

Now when is it Official total Loss?

Can I drive my car or not and I need to work I live in NH and work in MA ?

Posted: Sat Mar 28, 2009 01:23 pm Post Subject:

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

Posted: Sun Mar 29, 2009 04:52 am Post Subject:

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.

Posted: Mon Mar 30, 2009 04:26 am Post Subject:

on much older models, smaller damages may result in declaration of total loss of your vehicle