Rutshelle di li pa ka bliye Roody paske misye marel

                                          Rutshell di li pa k bliye roody paske misye marel

[07:14, 2/11/2017] evans: A car is declared a “Total Loss” when the cost of repairs would exceed the actual cash value of the car. This type of claim is slightly different from other more minor claims, and requires a bit more effort on the part of the insured. In this article we will go over all the aspects associated with a total loss. 

First of all, to be covered for “Total Loss”, you will need to have property damage liability (PD) or comprehensive or collision insurance in your policy. PD is mandatory in every state, but the only way to receive a pay out from PD is to file a claim against another driver’s PD. The other driver will also need to have been negligent in the accident for you to see compensation. The easiest, and most assured way of seeing payment for total loss is through your own insurance company, which you can do through collision insurance. With collision, it does not matter if you were at fault. 

Next, provided you are not immediately injured, you would file a claim with your insurer as you would any accident. A claims adjuster will come to inspect the vehicle to assess the damage. It is here where the total loss designation will be made. 

If the adjuster determines the cost to repair the damages to the car is more than it is "worth" to them - that is, repairs exceed the Actual Cash Value of the car - then it will be a total loss. It is not always as simple as “X” being greater than “Y” however. What constitutes a total loss actually varies between states. Some states go by a Total Loss Threshold (TLT), where damage only needs to exceed a certain percentage of a car's value to be determined a total loss. About half of states use what is called the Total Loss Formula (TLF), where if the sum of the cost of repair plus the salvage value of the car exceeds the car’s ACV then it is considered a total loss. 

Per the table above, if you were to crash a Toyota Camry valued at $4,800 in Oklahoma, at least $2,880 (60%) of damage would qualify as a total loss. If it were in Colorado on the other hand, there would need to be at least $4,800 worth of damage to be considered total loss.