Determining If A Vehicle Is Totalled....
05-17-2006, 09:31 AM
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Determining If A Vehicle Is Totalled....
Damn, just got into my first MAJOR accident!!! Bascially to advoid t-boning a vehicle that pulled in fornt of me, I swerved off onto an uneven grassy median and smacked a low guard rail.
Anyway, how does the insurance company determine whether or not to total a vehicle? Is it based on the cost of the repairs (if it can be repaired) vs. the valuation of the car? My Z is an '05 base and the value I pulled up on Kelly Blue Book is around $21.5k.
Anyway, how does the insurance company determine whether or not to total a vehicle? Is it based on the cost of the repairs (if it can be repaired) vs. the valuation of the car? My Z is an '05 base and the value I pulled up on Kelly Blue Book is around $21.5k.
05-17-2006, 09:52 AM
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When you "total" your car, you cause substantial damage, and your insurance company has the right to decide that your car isn't worth fixing. The decision to total is a function of the car's worth. Minor damage to a 15-year-old Buick might result in totaling the car, while major damage to a brand-new Saab might not. Auto insurance claims adjusters usually determine a car's actual cash value by using their company's proprietary database of prices. When you "total" your car, you cause substantial damage.
05-17-2006, 10:03 AM
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Originally Posted by mchong75
Some companies total vehicles at 51 percent of its actual worth; some total at 80 percent. The insurance company will pay you the car's actual cash value, minus any deductible on your coverage.
Unless you puchased GAP insurance when you bought the car, and it makes up the difference.
05-17-2006, 11:05 AM
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Yeah generally 80% the value of the car. Judging by your reaction I dont think thats the case. Unless you have frame damage 80% is usually a pretty messed up car.
p.s. sorry to hear about your accident. Sadly the way things are these days its almost better to get in the car to car accident then hitting a stationary object. At least insurance wise it is. In some cases the insurance comp also makes you crashing into a object off the road a at fault accident as opposed to you running into someone who cut you off ( or something where fault can be placed on them ). So in the end you get screwed both ways. Premium and having to repair instead of replace.
p.s. sorry to hear about your accident. Sadly the way things are these days its almost better to get in the car to car accident then hitting a stationary object. At least insurance wise it is. In some cases the insurance comp also makes you crashing into a object off the road a at fault accident as opposed to you running into someone who cut you off ( or something where fault can be placed on them ). So in the end you get screwed both ways. Premium and having to repair instead of replace.
05-17-2006, 01:16 PM
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Well I read through my long a$$ policy which I didn't think would necessarily have the answer. It says they determine a total loss by factoring in the value of the car minus the "difference" of what the value would be after it is repaired. If the cost of repairs exceeds this amount it's considered totalled.
As far as frame damage goes the only thing that's apparent (to me) is the parts that the bumper brace mounts to. It's totally pushed to one side (drivers side). It looks like the pieces are lighter guage steel than the actually frame rails that span the length of the car and are just tacked welded on there. Being optimistic about this whole ordeal, maybe this is something they can replace relatively easy.. Who knows!!
As far as frame damage goes the only thing that's apparent (to me) is the parts that the bumper brace mounts to. It's totally pushed to one side (drivers side). It looks like the pieces are lighter guage steel than the actually frame rails that span the length of the car and are just tacked welded on there. Being optimistic about this whole ordeal, maybe this is something they can replace relatively easy.. Who knows!!
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05-17-2006, 01:32 PM
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Well the good thing is that when you dont deal with fixing a bent frame you might be able to get out with the car not having that "its not the same feel". Especially if they replace 90% of the stuff that needs to be with brand new items.
As far as the airbags comment that is only a 2-3k loss the car would still have to sustain severe damage.
As far as the airbags comment that is only a 2-3k loss the car would still have to sustain severe damage.
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