Auto Insurance Claims: Damage to car, bookvalue, side doors

Question
I backed my backhoe into my 1997 mercedes.  I damaged the two side doors, the the door supports and roof.  I only bought it two or three months ago.  i paid $12,500 and had just put $1,100 into the steering alone.  The nada bookvalue is $8,500 to $12,500....how does a company decide if it should be totaled or fixed?  If totaled, how do they determine the value?

Answer
Hi Patrick,

Most insurance companys will total a vehicle if the cost to repair it is 70% to 80% of the cars value. They use several sources to value the car. You should be paid the fair market retail value of the vehicle. Insurance companies will often make low offers on totaled vehicles. It is your responsibility to prove them wrong. You should look at several sources as follows:

1) www.nada.com
2) www.kbb.com
3) www.edmunds.com
4) www.autotrader.com

The last one, autotrader.com, will allow you to research currently for sale vehicle like yours in your area. These should give you a good idea of what your vehicle is actually worth.  

I hope this helps
Richard Hixenbaugh