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Economical total loss ? | by scissors | 2004-03-17 02:10:41 |
| Bad luck! |
by fore_deck |
2004-03-17 04:44:40 |
I hope no-one was injured?
I'm afraid my only experience of this is as a Total-Total loss...
I had a Vauxhall (Opel) Nova years ago, which got dramatically shortened (it ended up 1M shorter than normal!) when I hit a car head-on and got pushed backwards into a fence.
In the UK, the situation should be handled by the insurer of the car that hit YOU. You are liable for the guy in front &c&c. what would in fact happen is that your insurer pays the guy you hit & reclaims that from the guy who hit you &so on until the chap who started it ends up paying for all the damage.
Since you won't be claiming on your policy for YOUR car, you need to deal with the other guy.
In general 'economic total loss' means exactly that - it'd be cheaper to buy another car, the only case where it MIGHT be worth repairing anyway would be if it's a classic car or something...
You can contest the valuation, if you can show that the same car (same age & condition) would cost more than they say, but the insurers normally have standard price guides that they use (normally Glass's Guide in the UK).
I'd say that any attempt to repair will DEFINITELY leave you out of popcket & your best bet is to try for a better valuation & then buy another car... |
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