A vehicle is considered to be a total loss when the cost of repairs, open items, and the anticipated salvage value exceeds its actual cash value.
The Main Street America Group uses CCC Information Services total loss evaluation software as a guide to settling vehicle total loss claims.
Local market surveys provided by CCC Information Services, Inc. will be our primary evaluation source to determine the actual cash value of a vehicle. This means that comparable vehicles will be located of the same type, same year, comparably equipped, and in the same geographic area as the total loss vehicle in question. A condition rating further takes into account the vehicle’s mileage, condition, and unrelated prior damage in order to arrive at a fair determination of the ACV of the vehicle at the time of the loss.
Other evaluation sources are used when necessary. The Main Street America Group conforms to all state regulations for the handling of total loss settlements. When multiple sources are required, all evaluations will comply with state regulations.
All total losses are settled by a claim adjusting staff that has the expertise and experience to properly evaluate and negotiate these types of losses.