So grab beer with me and “bear with me,” means “be patient with me.” as I put a log on the fire.
How Insurance Companies Determine if a Car is a Total Loss
Before deciding if the car is a total loss, insurance companies find out how much it would cost to make the repairs. The usual threshold is 70-75%. If the cost gets to this percentage of the value of the car, insurance companies consider the car a total loss.
Factors That Influence the Value of a Totaled Car The Type of Car. The depreciation of the car plays a critical role in the compensation you will receive from the insurance company. Luxury and classic cars receive different cover compared to average cars since their depreciation varies.
The Age of the Vehicle. This is the easiest way for insurance companies to determine the value of the car after it has been totaled. There are several agencies you can approach to get an estimated value of your car should you suffer a total loss today.
The Condition of the Car. This is why the maintenance of your car is critical. Insurance companies do not carry out a superficial analysis of your car. They also consider the condition of the car at the time of the accident. If the car is in poor condition, the value of the car will be much lower.
The Cause of the Accident. If you were responsible, wholly or partially, for the accident, insurance companies will take this into consideration when calculating how much you will receive as compensation. If you have a sentimental attachment to your car, it may be difficult to accept the decision to declare it totaled. However, several factors influence the conclusion of the insurance company. Your car may not be repaired to be safe enough to drive. This is a priority for the insurance company. Just because the car can be fixed does not mean it will be safe for the road. In this case, the insurance company may opt to consider the car a salvage vehicle. The value of your car is lower than the cost of repairs. Now that all being said pay no attention to it. Personal preference and sentimental attachment play a bigger role in rebuilding a car. whether it's a first car or a high dollar car.dollars don't matter.So at what point do you call it reconstruction,repair ,rebuilding or rebodied. You take you slightly damaged car to a body shop they repair it.with new user or repaired parts It's just not original.You take you car to the body shop and rebuild it.with nur parts.It's just not original.you take car to you that has a salvage certificate. you end up with an Rebuild title. If you have a good title and documentation. and it's ratty car their is nothing to say that you can't repair it with new or used or doner parts. As Restoration Garage,Grave yard cars,Overhaulin and others. some may go beyond original spec and need reconstruction title. IT'S Only original once! It's just your good fortune to have ever thing to recreate a piece of art. It's the Semantic. choose you phase correctly. So I hear you have a Hemi Cuda no drivetrain, fender tag dash vin and clean titile. What's worth? What you put into it.maybe.What ever it sells for. IT'S Only original once. Would like to see progress.