Question: Who decides if my vehicle is repairable or "totalled"?
Submitted by: Frank, 07/29/2007
Answer:The insurance company who is liable for payment can decide that your vehicle is not worth repairing. If the cost of the labor and parts exceeds the market value of your vehicle, the company can declare it a "total loss" and pay you the market value. Market value is determined by the fair market value of similar vehicles in your area, or from an independent source such as the Kelley Blue Book. If you want to keep the vehicle after it has been declared a total loss, you will have to pay the salvage value to the insurance company.
Answered by:Bache and Lynch , Sun Jul 29 2007 4: 35 am Bache and Lynch
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