How is a vehicle determined a “total loss”?
The insurance company determines this, not the Body Shop. It used to be that if the cost of repairs exceeded 70% of the vehicle’s value, the car would be considered a total loss. Now, some Insurance Companies in Indiana will go as high as 100% of the value of the vehicle, before they consider it a total loss. This really varies from Company to Company, so take a look at your Insurance Policy, or talk with your agent would be prudent to find this out before an accident occurs.
When your insurance company determines the repair costs will exceed your vehicle’s value, this is known as an “economic total loss”. If the damage to your vehicle is so severe that it cannot be safely repaired, this is known as a “structural total loss”. The vast majority of total loss situations are “economic total losses”.
When your insurance company determines the repair costs will exceed your vehicle’s value, this is known as an “economic total loss”. Even if the vehicle’s frame has been damaged, our highly trained technicians can return your vehicle to its original factory specifications. If the damage to your vehicle is so severe that it cannot be safely repaired, this is known as a “structural total loss”. The vast majority of total loss situations are “economic total losses”.
