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Do you pay taxes on insurance proceeds for a totaled business vehicle?
Wiki User
∙ 15y ago
No, (or a personal one)...but you can't also deduct the casualty loss - up to the amount of the payment...so if they paid you "in full"....thats it.
Wiki User
∙ 15y ago
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How do you determine if vehicle is totaled when burned?
A vehicle is totaled if it cost too much to repair it. Usually, insurance companies determine whether or not a vehicle is totaled.
Why would an insurance company declare a vehicle totaled?
An insurance company declares a vehicle totaled when the cost to fix the vehicle exceeds 70% or more of its market value.
Does an auto insurance company have to pay for a deaf interpreter to find a new vehicle after yours has been totaled?
What. Why would you think this is required? An insurance company will not find you a new vehicle is your is totaled, they will pay you the actual cash value of the vehicle you had.
If your loaner car was totaled and you do not have insurance what should you do?
get a good job............you will (assuming you are at fault for this loss) be require to pay for the totaled vehicle.........
How do you declare the title of a vehicle you own as salvage?
can be done by insurance company at time it is totaled out by them
Does the ticketed motorist insurance Co have to replace your totaled vehicle?
'ticketed' really doesn't matter.........what matters is who is responsible or liable for the loss...........and no they do not have to 'replace' your totaled vehicle they owe you the acv (actual cash value) of your vehicle........
Can a totaled vehicle be insured again?
Once a car is totaled it is gone. Usually the insurance company takes the car for them to sell and get some extra money and if it is claimed as a totaled vehicle I would not recommend driving it on the street where you can hurt yourself or someone else.
What makes a motorcycled totaled?
When a vehicle covered by insurance gets wrecked, the insurance company looks at how much it will cost to repair. If repairing the bike costs more than it is worth, then the insurance company declares it totaled and pays for a replacement.
How do you get a car after your vehicle is damaged?
most time if the car was in an accident and is totaled you will have to by it back from your insurance company
What will insurance pay for your car if totaled?
It will pay the sum your vehicle is worth according to BLUE BOOK
Your wife is not on your auto insurance policy She has rear ended another driverand his vehicle was totaled by his insurance company What are your responsibilities?
If she was driving your vehicle, with your premission, it would fall under your insurance and they would have to pay for the other drivers vehicle
CAN you BUY MY Car back after its totaled?
In some cases you can buy your car back from the insurance company or from the scrapyard if the vehicle is totaled. You will need to check your insurance policy to see what type of stance they take on this purchase.
