Were you involved in a motor vehicle collision in Kansas City? Did your car sustain major damage in the wreck? You need it repaired as soon as possible—and if it cannot be repaired, it needs to be replaced. In both Missouri and Kansas, your car may be declared a “total loss” if the cost to repair it is too high given the actual vehicle of your vehicle. Here, our Kansas City auto accident attorney explains what it means for your vehicle to be totaled in a crash.
A Totaled Car is One Not Worth Repairing (Economically)
Was your car declared a total loss after an accident in Kansas City? It is a classification that essentially means that repairing the vehicle would not be economically reasonable, given the extent of the damage. Insurers often use a simple formula:
- If the cost of repairs plus the salvage value of the car exceeds its Actual Cash Value (ACV) before the accident, it is considered totaled.
The “Actual Cash Value” or “ACV” is What Matters
The key figure insurance companies consider when deciding whether a car is a total loss is its Actual Cash Value or “ACV.” Broadly explained, a vehicle’s ACV is its value immediately before the accident, considering factors such as age, mileage, and overall condition. Insurers calculate ACV using industry guides, comparable vehicle sales, and even third-party appraisers. It is imperative that your vehicle’s pre-crash ACV is accurately calculated.
The Law for a Totaled Vehicle Varies By State
An important thing to understand is that a vehicle can be declared totaled in Kansas City even if the cost to repair it is below 100% of its ACV. The law for what counts as being “totaled” for a vehicle after a car crash varies by state. Here is what drivers in Kansas City should know:
- Missouri Law (80 Percent): In Missouri, the total loss threshold is 80%. If the estimated cost of repairing your vehicle is 80% or more of the ACV, your insurance company will likely declare it a total loss. For example, if your car’s ACV is $10,000 and the repairs cost $8,000 or more, the vehicle would be totaled under Missouri law.
- Kansas Law (75 Percent): On the other hand, in Kansas, the threshold is slightly lower at 75%. Here, if the repair costs are 75% or more of the ACV, the vehicle is deemed a total loss. So, for a vehicle with an ACV of $10,000, repair costs of $7,500 or more would meet the Kansas threshold for declaring a car a total loss of insurance claims purposes.
Set Up a Free Consultation With Our Kansas City Personal Injury Lawyer Today
At House Law LLC, our Kansas City car crash lawyer is standing by, ready to advocate for your rights. Was your vehicle declared totaled after a crash? You deserve compensation for the full extent of your damages, including any injuries. Contact us today for a free, no-obligation initial case review. We represent car crash victims throughout the Kansas City Metro area.
Tags: brain injury, personal injury, traumatic brain injury
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