What is considered a "total loss" in Texas?

11 Comments

1. admin says:

   June 22, 2009 at 6:15 pm

   Insurance companies go by the resell value of the vehicle. If it costs more to fix it than it would sell for, they total it.

   Bought son a pickup for $2,500 and did about $3,000 of fixing it up and made him a great truck. About a year later he was rear-ended, and because of the age of the truck the insurance company "totalled" it because it would only sell for $1,900. So that's all he got for it even though we had about $5,500 invested in it.
2. admin says:

   June 22, 2009 at 6:15 pm

   anything in any state, considers it a total loss if it cost more to fix it than its worth in blue book price. best tip-take the money and you want to keep the auto
3. admin says:

   June 22, 2009 at 6:15 pm

   Condition and/or options (and upgrades) don't matter; the insurance companies have a set guideline that tell them how much your vehicle is worth. If the repairs are at least 80% of the total value, they will probably total the car. Good luck!