Quote from: "Bruce Dorsi"I have often wondered about settling a "Total" loss claim.
Let's say the value (either stated or agreed) of the vehicle is $15,000.
If the damage is $15,000 or greater, the vehicle is declared a "Total" by the insurance company. .....The insurance company writes a check for $15K, and wants your damaged vehicle.
Can the insurance company declare a vehicle "Totaled" if the damages are LESS than the value (either agreed or depreciated) of the vehicle?
I believe in the past, it has been stated (by Enjenjo?) that the insurance company does NOT have the right to take the damaged vehicle. ......If this is true, how does one challenge the insurance company?
In the above example, if the insurance company declares the vehicle a Total loss, and is willing write a check for $15K while expecting the damaged vehicle to be turned over to them, can I tell them to write the check for $14,999, and I keep the car, since it is now not a Total loss?
Bruce, Unless collector car insurance is different, most insurance adjusters figure the vehicle to be a total loss if the damage exceeds 85% of the value of the car. Now, this may have changed, but in the past, that is how they handled it.