Posted August 28, 2017
Our client has a 2013 Dodge Ram 1500 and had driven thru approximately 2 foot of water. The OEM Certified Collision Facility, our client, chose to restore his truck back to its Pre-Wreck OEM Condition issued a repair estimate for $15,743.64. Our client wanted his 2013 Dodge Ram 1500 returned back to its OEM Pre-Wreck Condition.
Our client has Allstate Insurance. Allstate Insurance elected to deem our client’s Ram 1500 a Total Loss. Allstate employed CCC ONE to issue a Market Valuation Report on the 2013 Dodge Ram 1500. CCC ONE arrived at a Market Value replacement on the Ram 1500 for $20,770.00.
The Damage to Loss Ratio at the CCC ONE Adjusted Vehicle Value ($15,743.64 / $20,770.00 = 75%) was 75%. Texas Transportation Department sets the Total Loss Threshold as 100% of the Actual Cash Value. Meaning if the repair cost minus the paint cost and sales tax is less than the Actual Cash Value, said the vehicle is eligible to be repaired.
Our client employed us to issue a damage loss module, explain to Allstate the Texas Total Loss Threshold code, and negotiate with Allstate to repair his Truck. Allstate subsequently agreed to the $15,743.64 repair estimate to restore our client’s 2013 Dodge Ram 1500 back to its Pre-Wreck OEM Condition after presented the facts