Fairly confused about complete losses

By | October 22, 2018

So, I received in a fender bender some time again in my 2004 Toyota Matrix. The man did a quantity to my rear bumper, quarter panel, and my whole hatch wanted alternative as a result of it was crushed. The man who hit me didn’t have insurance coverage. I took it to a store really helpful by my insurance coverage (State Farm) who informed me that there was $2,954 value of harm and he has a couple of $500 leeway earlier than the automotive could be deemed a loss. He known as me on Tuesday and stated that there was about $680 value of extra injury underneath the quarter panel. I used to be like, “so it’s totaled” apparently not, he stated he doesn’t assume it’s a loss but. So, I’m pushing $3700 value of harm on this automotive, but once I take a look at the KBB worth I can see that the utmost worth I can promote it privately is about $3751. So, my query is, why isn’t it deemed a complete loss? I known as State Farm and so they say that it’s up the the whole loss division who received’t converse to clients in any respect until the store sends in a automobile inspection report, which they haven’t. Once I ask the store they are saying it’s as much as the insurance coverage, however they “don’t assume it’s a loss”. From what I perceive, a loss implies that the injury exceeds a threshold of the worth of the automotive. So, what’s up? submitted by /u/tokingtogepi [link] [comments]