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K_dub

Total Loss Threshold in OK

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Okay, everywhere I have read states that the TLT for OK is 60%. Meaning that if the estimated repairs are deemed to be greater than 60% of the value of vehicle, then the vehicle is determined to be a total loss. My vehicle has been through field inspection, and been through the body shop inspection. The body shop has turned their final estimate back over to the field adjuster, and the field adjuster just informed me that the actual rule is that it has to be 70% to determine total loss, or, 60% plus paint and labor. Right now, based on all the numbers we sit at 65% (including paint and labor). Can someone tell me if what the adjuster is saying is true, or, are he and the insurance company trying to get by not totaling the vehicle? Also, I really need to be able to find the actual written OK law on this so that I can print it out and send it to the adjuster and my insurance company if it is not true what the adjuster is telling me. To me, it sounds suspect, but I need to have proof in writing. Any help in this matter would be greatly appreciated. Thank you. 

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 I really need to be able to find the actual written OK law on this so that I can print it out and send it to the adjuster and my insurance company if it is not true what the adjuster is telling me. To me, it sounds suspect, but I need to have proof in writing.

 

Some states have laws about the percentage, most don't and it's up to the insurance company to determine when a car is a total loss and even that will vary between insurance companies.

 

Total loss is addressed by OK statute 47-111 and says:

 

""Total loss" means a loss which is equal to the fair market value of the vehicle immediately prior to the damage to or theft of the vehicle;"

 

Theoretically, then, an insurance company can elect to repair the damage if the repair cost is up to 99% of the market value.

 

The statute goes on to say what happens if or when the damage exceeds 60% of the market value but does not obligate an insurance company to total out a car at 60%.

 

Read the statute at:

 

http://oklegal.onenet.net/oklegal-cgi/get_statute?98/Title.47/47-1111.html

 

Bottom line: Your insurance company calls the shots on whether your vehicle is a total loss.

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