•
A vehicle is considered economically impractical
to repair, or a total loss, if the cost to
repair the vehicle equals or exceeds the vehicle’s
pre-accident value on the date of the loss.
In many instances, an insurer will total a
vehicle if the appraised damages equal 80%
of the vehicle’s pre-accident value
because often, once repairs are begun, additional
damages or “hidden damages” are
found which would render the vehicle a total
loss by definition. (This is sometimes referred
to as a “constructive total” loss).
Brought
to you by the Public Relations and Education
Sub-Committee, Insurance Council of St. Lucia
Insurance
Council of St. Lucia
Brazil Street
Castries
