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What constitutes a total loss in terms of a vehicle in need of repair? When the cost of repairs needed on a vehicle exceeds the value of the vehicle, it is deemed a total loss. However, in some cases, the value of a vehicle extends beyond the cost of the vehicle. Even in the case of a total loss, you still have options. This is especially true when working with an experienced and reputable auto body shop.
Reasons for a Total Loss:
Many people assume that total losses are only from severe damage. However, your vehicle may just need a number of cosmetic repairs that add up to a cost that is more than the vehicle’s worth. In the case of an older vehicle, what is essentially cosmetic damage can cost more to repair than the vehicle’s value, or an insurance company may choose to “total out” your vehicle if the cost to repairs approaches a certain percentage of its retail value. If you love your vehicle and would like to keep it on the road, you may still have options.
Should you Repair or Replace a Total Loss:
If your vehicle has been deemed a total loss, the choice of repair or replace will come down to the amount of value the vehicle has to you. You may find that after the inspection and repair estimate, it will cost more to repair your vehicle than to replace the vehicle. In most cases, it is a good idea to take the insurance money offered when a vehicle is a total loss. You should go through with the repairs if your insurance company will cover it. You should also consider repairs if you have the means to cover them without it causing you any problems. Sentimental value can play a big part in whether you repair or replace your vehicle.
What About Insurance Coverage:
Depending on your insurance coverage, there is only so much you can and cannot do with a total loss vehicle. If you want your insurance company to pay for the collision repair, it must be a part of your coverage or that of the party that damaged your vehicle. You should know your insurance limits, as your company can only pay out up to your limits.
No matter what direction you go, it all starts with bringing your car into a reputable auto body shop. You will want a shop that can tell you the extent of the damage, and let you know how much it will cost you to repair it all.
Resurrecting a total loss is often possible. At Shepard’s Automotive Center, we can help you figure out if you should repair or replace your vehicle. Call us today for a free estimate.
About Shepards Automotive Center
David L. Shepard, Inc. was founded in 1978 by its namesake, David L. Shepard. Our commitment to providing exceptional automotive and marine repair service allowed us to grow immensely throughout the first decade. Shepards Automotive Center’s expanding, loyal customer base proved to be too much for our downtown waterfront space. We look forward to providing you with outstanding automotive and marine repair services. Contact us at 978.465.5973 we are open, Monday – Friday 8:00 am – 4:00 pm. Visit our website here.