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Old 01-16-2012
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SloopJonB SloopJonB is offline
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I think the thing about this situation that confuses people is how insurance companies value things. Most of us regard a "total loss" of something as essentially meaning it is damaged beyond repair. Insurance companies instead look at the cost of professional repairs plus an additional factor averaged in for "re-do's", hidden surprises and so forth. Once these, plus any recoverable scrap value add up to equal or exceed the insured value payable by them, it is a "total loss".

It actually has little to do with the repairability of the insured item, it has only to do with minimizing their cash outlays. Another thing to consider is that most professionals, when they know they are dealing with an insurance company, jack up the price over what an individual would pay out of his own pocket - this even applies to dentists and so forth. I imagine that $13K to replace a toe rail has some of that in it.

I've seen cars totalled over a creased fender - the cost of repainting it exceeded the market value of an otherwise perfectly good car.
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