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When the cost required to repair the car to be fully operable and safe are greater than the market value of the car. In some cases, insurance companies will declare a "total" if, in their opinion, it cannot be restored to a safe condition, regardless of cost.
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∙ 12y ago
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Who decides if a car is totalled?
The insurance company.
Can you still drive your car if insurance company has title?
Um, why does the insurance company have the title???? The only reason that the insurance company would have the title is because the car was totalled from damage. Something is very wrong here.
Do you make an insurance payment if your car is totaled?
You should check with your insurance company. If you still have a policy open for the car the premium is still due. But I'm not sure why you'd have a policy if the insurance company said the car was totalled
What would it mean if a car was 'totalled'?
If a car is "totalled" then it means that the cost of repairing the vehicle makes no financial sense to spend money on it so the insurance company give cash for the vehicle.
How do you get what is owed for a car that is totalled in accident?
The insurance company pays you once all formalities are taken care of.
If a car was stolen and found in bad condition do you have to accept the vehicle back or can you reject it and have the insurance company pay it off?
I am sure that theft insurance functions just like collision. The insurance company has the option of repairing the car or declaring it "totalled" in which case they give you fair market value for the car (they do not have to pay it off)
Do insurance companies pay according to who was found at fault?
Yes, or if you carry uninsured motorist coverage, you may get some help from your own insurance company. If the car is totalled, you may receive close to Blue Book value--not the amount of the loan you owe. The car then will belong to the insurance company as salvage.
Do you have to let the insurance company total your car if you were not at fault?
Liability, or whether or not you are at fault, has nothing to do with your vehicle being deemed totalled. If the repair cost exceeds the local market value of your car, it is a total loss.
Can you appeal to car insurance for more money for crashed car after first offer has been cashed?
If hidden damage is discovered during the repair of the car, generally the insurance company will pay the increased amount (in fact, usually the repair shop just handles it with the insurance company and you don't even find out until you pick it up) If the car was totalled or you just cashed the check and didn't fix the car, not gonna happen.
Can an insurance company allow you to put liability only on a car that hasn't been paid off?
Your lender has to approve any changes in insurance on your car until it is paid off. You may also opt to have them cover the remaining amount owed so that if the car is totalled, your debt is cleared.
You had no insurance and an uninsured driver hit you so now what should you do Will gap insurance cover?
I'm sorry to say that you are going to pay out of pocket for the damage to your car or try to sue the uninsured driver that hit you for the money. Gap insurance only covers the difference between what you owe on the car and what your insurance paid you when your car was totalled. Since you don't have any insurance your gap coverage is useless. Furthermore if the car wasn't totalled in the accident then gap insurance wouldn't come into play regardless.
Does the insurance company have the right to total your car even if their insured was at fault for the accident?
Your car being deemed a total loss does not have anything to do with the liability of the accident. Your vehicle becomes totalled when the repair cost exceeds the local market value of your vehicle.
