The car has to come in contact with the insurance company's designated threshold for replacement. contact with a non-driveable vehicle will be considered totaled if it is more than 50% of its vehicle value and the collision needs significant repair work. contact with a push bumper will be considered totaled if any damages are not over half of its estimated cost of repairs. the company considers all replaced parts, pre-ownership use, modifications, cosmetic damage or other factors for assessment before declaring it as “totaled”.
github repo for this project lives here: https://github.com/angelakang63/april1
how much damage does it take to total a car?
the site www.fair isaac offers a free calculator for determining your auto insurance rates, so if you are not sure about the cost of repair it is worth checking the website.
with continued use, it will start to lose its value faster than if you are repairing it according to care guidelines. if you do not have the money or time to fix your car then it may be best just to roll with whatever diagnosis but either way keep in mind that there is always an opportunity cost associated with choosing different modes of transportations.
how do insurance companies decide to total a car?
insurance companies generally do one of two things to a car that they deem “stuffable”:
– have it checked out by their own mechanics
– have it checked out by another insurance company's mechanics. the latter is considered the more ethical thing to do. if the other insurance company deems your vehicle fit for repair, even if you claim total loss, you are being awarded salvage value for your vehicle. insurance companies have no desire to re-sell junkers or subpar cars, so they use this as an opportunity to test drive other businesses practices.”
it's important not believed every mechanic who tells you something must be replaced because there are some corrupt ones in any industry! be smart with what you come across
is it better to have a car totaled or repaired?
it depends on the cost of fixing it. for example, if you total a car with $5000 remaining in liability coverage where the cost to repair is $1000, you might be better off totalling it (assuming you don't want to pay for post-repair damage caused by your negligence). if it costs an arm and a leg to fix because of low funds or misplaced possession of vehicle, you might be better off paying out the balance. generally speaking though, it's always best that your car is repaired if possible just in case something else goes wrong later down the road.
answered by leandro lopes
i have been told this too many times not to believe it myself. the risk lies when you
what considers your car totaled?
if the vehicle has sustained structural damage in excess of 75% of its market value (which usually indicates, but is not limited to, extensive frame damage or significant rust) the insurer will consider it totaled.
