Laws Governing Total Loss Vehicles

Definitions as defined by the State of Virginia.  Click here

Customers should pay particular attentions to "Diminished Value compensation".  If you've been involved in an accident chances are you won't be able to sell your vehicle for what it would be worth if it were not involved in an accident. 

What makes my car a total loss?

According to the Division of Motor Vehicles of Virginia, your late model  vehicle is considered a "Total Loss" if damage to the vehicle exceeds 75% of the value of the vehicle. Check out what DMV says about salvage titles...click here.

What if my vehicle is older than 6 years...or is worth more than $7,500.00 when it was involved in an accident.  If the vehicle is worth more than $7,500 at the time of the accident then your vehicle falls into the late model category...even if it is older than 6 years.  This happens all the time to classic vehicles.  But most of us do not drive classic vehicles...what about us?  I drive a 1995 Honda Civic.  Last year my vehicle was involved in a fender bender on Midlothian Turnpike.  Since my vehicle was older than 6 years, the insurance company could repair my vehicle up to 100% of its value.   Unfortunately, the cost of the repair exceeded the value of the vehicle and the insurance company paid me for the loss at a market rate.  What did that really mean?  They came up with what they wanted to pay me and I had to argue with them about the value.   Currently , there are no laws governing how  the insurance company comes up with their figures.