Posted by oldtanker on July 11, 2012 at 17:59:33 from (66.228.255.239):
In Reply to: Why do they do that? posted by rrlund on July 11, 2012 at 08:51:42:
OK as a former adjuster..... If the value of salvage added to the cost of repairs comes within 10% of the value of the car it's a total. Reason being is that someone thinks their car should be totaled and they are told no they will try to sue the insurance company for making them having it fixed rather than the check for a total. Like they get rear ended and then dive the car 50K and the engine fails......they try blaming the insurance company.
It's the lawyer action that makes insurance so expensive. Good example is a woman who was a passenger was injured. She had about used up the limit of liability from both companies. She had a lawyer tell her she could sue. She did and got paid about 3,700 dollars because that was the limit. Funny part was that had she not sued she would have received a check for that amount without having to pay the shyster.
If a vehicle is rare the salvage value goes up. Sometimes way up. Don't take much damage to wind up with a total.
Rick
This post was edited by oldtanker at 18:00:05 07/11/12.
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