Truck flooded
Anyone have any experience with an insurance claim on a vehicle, F150 in my case, being partially flooded in salt water. The hurricane got mine. Water up to top of the tires, plus or minus a couple...
Forum Discussion
Cloud Dancer wrote:
If the cost of fixing it is over 65% of the value, they can legally total it. The rules favor THEM,....IMO
According to this page Nevada is the only state with a 65% threshold. The percentage varies by state and many states use a formula instead.
The variable that the insurance companies always try to avoid is the "supplemental damage" cost. If they don't total it out and agree to pay for repairs instead, then they are responsible for paying all the additional "supplement" charges once the shop tears it down and finds damage that the appraiser couldn't see during the original inspection. That's where the gamble comes in. It's a gamble for the vehicle owner too, because of the "it's never going to be the same" factor.
