Expert: Ron Cercone - 4/3/2009

Question
The insurance co. says the cost of repairs (mostly cosmetic) will exceed 75% of FMV of my vehicle and it must be declared total loss.  I would be happy with much less extensive repairs (i.e., replace the damaged door, don't bother with matching paint).  Can the insurance company insist on using this high repair estimate?

Answer
Hello Susan,

1. Nobody can take your car, even if it is "totaled out". They would owe the FMV less the salvage value if you keep the car.

2. And whose estimate of FMV, theirs or yours? Its very likely their FMV is a lowball figure based on a CCC or ADP report.

For all the detailed answers on how to get a reasonable FMV and how not to get screwed on the salvage value (if you decide to keep the car) consider the http://www.uclaim.com/ eBook "TOTAL LOSS AUTOMOBILE INSURANCE CLAIM ADVICE AND HELP - FOR INSUREDS". It has a money back guarantee.

Don't fret over their repair estimate. Just concentrate on getting the FMV value up. If it gets high enough, they will start thinking about fixing the car, since they are only going to pay the smaller amount, to repair or replace.

You can take your "total loss settlement" and get the car fixed cheap, if you are not picky.