Talk to us first before you decide to keep it
Peggy Claytor
What does it mean when a car is totaled?
Typically cars are totaled when damage exceeds 65% or 70% of the vehicle’s market value. There is a good reason why car insurance companies are cautious about fixing badly damaged cars. Cars are complicated. All damages are not visible. Once you start dismantling, often you find additional damage.â€
Can you keep your car if it’s totaled?
If you decide to accept the insurer’s decision to total your car but you still want to keep it, your insurer will pay you the cash value of the vehicle, minus any deductible that is due and the amount your car could have been sold for at a salvage yard. It then will be up to you to arrange to make repairs.
Finding car insurance for a totaled vehicle.
You may run into trouble when you seek auto insurance for a car that has been declared totaled. Your ability to buy collision and comprehensive coverage may be affected. “That is really up to each individual company, Before you decide to fix your car, check to see if that is an issue.†Some insurers will not accept a car with “a branded title.
