Auto Insurance Claims: Determining Auto Salvage Value, market value assessment, salvage value

Question
Is there a percentage that insurance companies use to determine salvage value on a car? I've got a vehicle that KBB determined the "good" value at $1750, the trade in value at $925, Retail value at $3300. The repair estimate is $2460. (front end damage, vehicle is driveable)

Answer
Hi Michael,

Since this is obviously an older vehicle the salvage value will be very low. Usually as a rule of thumb you can assume about 10% of the retail value. However in this case you should not use KBB retail value as it is likely inflated. Check www.edmunds.com and do their True Market Value assessment. Then use 10% of what they show as a retail value as a guide.

I hope this helps
Richard Hixenbaugh