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Jim Eh.

Write off ratio

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Anyone know what the approximate write off damage/value of a vehicle is for MPIC?

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Sort of depends on the vehicle/situation. If the cost to repair (minus the value of salvage) is higher than the ACV (actual cash value) of the vehicle just before the loss, it will in most cases be written off.

Other factors include parts availability and loss of use costs. 

 

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I should have said approximate ratio.  50% = common/70% = someplaces ?

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They just wrote mine off for about 75% of replacement cost.

It was on the new car coverage.

Edited by Paceman

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Sorry, I read it as you only received 75% of replacement not that the 75% threshold triggered a full price award.

That ~$30- 40 extra premium was a good investment for you. Hope you found a suitable replacement.

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I’ve been told it’s 60 - 75%. It’s adjuster and vehicle dependant. If it’s something the adjuster has had flagged to “rid the system of” like cars with rust or high risk cars they may flush them. 

My 99 corolla was at 65% and they wouldn’t write it off unless I took a lower payout, to bring mpi’s loss value down, which I opted to at the time. 

 

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