- Local time
- 6:20 PM
- Joined
- Sep 15, 2009
- Messages
- 22,619
- Reaction score
- 47,623
- Location
- State of insanity
While state laws vary on specifics, the term "total loss" is a financial term. Cost to repair less salvage value exceeds the value of the vehicle. They must supply you with the method of valuation, and a guaranteed buyer for the salvage value. Are you using a standard indemnity policy, or do you have a stated value or guaranteed value policy ?