![]() Full settlement: Going forward, your insurance company is responsible for the vehicle and pays you damages. ![]() Although insurance companies (and even individual insurance policies) vary regarding total loss settlement agreements, usually you can expect the following: LA Salvage Vehicle OptionsĪfter your car insurance company declares your car a salvage, you’ll then need to choose between accepting a full OR partial settlement. Once your insurance company declares your vehicle a total loss, you have 30 days from the insurance claim settlement to apply for a salvaged title IF you decide to keep the car. The Louisiana Office of Motor Vehicles considers your car salvaged-or a “total loss”-if it’s damaged so badly that it would cost 75% or more of the vehicle’s fair market value to restore it to a safe and legally operable condition. You might be able to rebuild the vehicle and hit the road again, or at least make a buck or two off of it. ![]() A salvaged car might seem like a big loss, but the Louisiana Office of Motor Vehicles (OMV) provides you with a few options for dealing with the vehicle.
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