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In general, a vehicle is declared a total loss when the repair cost exceeds some percentage of its actual cash value; that percentage may differ by state and is usually provided by law.
Actual cash value is measured by market value of the vehicle prior to the collision. It takes into account make, model, age, condition, equipment, mileage and related factors.
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If my car is considered a total loss by my insurance company can I sell the parts?
In the event of a insured total loss, the insurance compnay, not you, has the rights to the parts. This is called salvage rights.
If a car is considered a total loss after an accident and the insurance company pays you for what the car is worth do you still have coverage on that vehicle if you contnue to drive it?
Usually if the car is a total loss, the insurance company will pay you and take the car. They then sell it for parts/salvage. If they let you keep the car, all you have to do is check on the current status of your policy and see if it is listed.
Can a insurance refuse take your car when they claimed total loss on your car in California?
Yes, insurance can refuse to take your car when they claim a total loss on it. They would just have to take it to a junkyard from there anyway.
At what point considering cost to repair vs market value is a car considered a total loss?
Typically when the cost of repair reaches 80% and for sure at 90% on the initial appraisal.
What type of insurance will pay for damage to your car or to replace your car if it is declared to be a total loss?
collision coverage
Is a deductible due when the auto is considered a total loss?
Yes, if your own insurance is paying for an accident that you were at fault for provided you had full coverage and they are paying for your car. If the accident was not your fault, no you will not pay a deductible.
If the other party's insurance says that your car is totaled can it be repaired?
Yes. Here's what will happen: The insurance company will still total your car, but since you own the vehicle, you have the option of retaining the salvage. You can then take the settlement money and repair your car with it. If you have a lien on the car, however, the carrier might send some or all of the total loss payment to your lienholder. Of course, if you car is a total loss, it's unlikely that the settlement amount will cover all of the repairs. That's why it's considered a total loss. In every state, once a vehicle's repairs reach a certain percentage of the vehicle's actual-cash-value, it's considered a total loss. The actual-cash-value is all an insurance carrier would owe you. Your best bet? Review the insurance company's total loss offer very carefully. Make sure their valuation of your vehicle considers all the options, the correct mileage, and any refurbishments (new engine, transmission, etc.) that you've had done in the past year or so. Don't count on getting the retail book value for your car. That value is based on the exaggerated price a dealer sticks on a vehicle, and as we all know, only a very misinformed person would walk onto a dealer lot and pay full price for a vehicle (specialty vehicles notwithstanding). Also, once a vehicle is a total loss, your own carrier will likely remove the full coverage on it. You'd have to have it repaired and inspected -- sometimes by the state -- to have it considered roadworthy again and to have your own carrier put the full coverage back on. And, depending on the valuation service that the other carrier uses to determine the value of your car, it's likely your car will always be considered a total loss because it's marked as a total loss. This can affect is value if, say, you have another accident in the future and total the vehicle again (because, let's face it, would you pay the same amount for a vehicle that had been deemed a total loss in the past?). Your state might even require you to obtain a salvage title on your car, which is no fun when you're trying to sell it. My recommendation: Review the carrier's total loss offer as I mentioned, and go get a new car. You'll be glad you did.
Are insurance companies the only ones that can declare a car a total loss?
Yes.
Can you ask the insurance to deem your car a total loss?
you can ask but you probably will not get the answer you want.
What happens if someone gets in a car accident not with another car?
Its considered a collision loss. If you have Collision coverage your car would be repaired less your deductible. Your insurance carrier will also pay for property damage you may have caused in the collision. If the collision is with a animal it could be considered a comprehensive loss.
What if a car is repaired and later determined a total loss?
The total loss would be paid based on the findings of the insurance company, you can take the money regardless of whether you had repairs done.
Does an insurance company have to pay your taxes when your car is a total loss?
No. That would still be your responsibility.
