Yes.
Ultimately, the decision to declare a vehicle a total loss belongs to the insurance company. If the insurance company is unable to have one of their own adjusters look at the vehicle, they will usually hire an independent. The repair shop can write an estimate and take pictures, but the insurance company will decide (based on state law and their own policies) whether or not the vehicle is a total loss.
nationwide Answer- Best insurance means those insurance that provides total risk coverage or total loss replacement in case of vehicle insurance with low premium. You can search various insurance companies on internet, review their offers and can ask for quote to get best deals.
Insurance companies will determine that your car is totaled if the cost of the damage approaches or exceeds the car
hotel
If your vehicle it considered a total loss, your Total Settlement Value will include Taxes, Transfer Fees, Deductible and your Loan/Lien. *This is with State Farm Insurance, I am not sure about other companies.
In the event of a insured total loss, the insurance compnay, not you, has the rights to the parts. This is called salvage rights.
It depends on the adjuster. Most companies have a percentage chart set up, like if repairs are over 80% of what the car is worth then they will total it out. I have seen a few cases though where the adjuster has gone way over the amount of the vehicle to have it repaired.
As far as i know the not at fault Insurance decision will prevail over the the one at fault. Besides there are certain "rules" that all insurance companies goes by when they take a determination whether or not a car is totaled. If by any chance the insurance companies can't agree they go to an arbitrary service provided by state for insurance companies and they can come to a decision.
Insurance co. have the right to declare a vehicle total loss based on a few factors, Blue Book value, costs of repairs, etc. However, if you don't agree with their decision you have the right to: 1). Have the vehicle inspected by an independent shop and make sure that it is in fact total loss. 2). If it is a total loss, you have the absolute right to pursue a claim against them and even take them to court. Usually Insurance co. try to avoid being sued by their insured for any issues, it presents Bad Faith. Before you do anything talk to your Insurance co. and try to resolve the issue with them. If they give the run around, contact your state's Department of Insurance and file a complint, then get an attorney.
"Accident year loss ratio" is a term insurance companies use as an abbreviation for "the total amount of money lost to claims divided by the amount of premiums earned in a given calendar year."
Insurance covers the direct exposure to the insured. Re-insurance covers insurance companies against the aggregated loss. Earthquake insurance is a good example. You might have EQ insurance on your home or commercial building. If you have a loss your insurance pays your claim. That insurance company that insures you might have re-insurance with a bigger insurer if total claims exceed a very large number. Lloyd's of London and Swiss Re are big re-insurers.
Occasionally