SOLUTION: following an accident, jeff's Ford pickup was replaced by his insurance company because the damage was so extensive. before the damage, the blue book value of the truck was $21000.

Question 1109559: following an accident, jeff's Ford pickup was replaced by his insurance company because the damage was so extensive. before the damage, the blue book value of the truck was $21000. how much would it have cost to repair the truck?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
Most traditional car insurance policies cover vehicles using actual cash value, deciding it�s not worth repairing your vehicle if the repairs will cost more than a certain percentage of the damaged car�s value, generally 60% to 80%. This is called the Total Loss Threshold and it varies from state to state and some states don't have it. If the TLT is not dictated by the state, an insurance company will usually default to something known as the Total Loss Formula (TLF) which is:
Cost of repair + salvage value = actual cash value
:
Good luck dealing with the insurance company.
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