Wyoming Total Loss Threshold

Wyoming Total Loss Threshold wyoming-state-icon

Wyoming-Auto-Total-Loss-Threshold-By-Law 🔗 (pdf)

 

StateWyoming
Rule75%
LawWyo. Stat. § 31-2-106(v)

Wyoming Total Loss Threshold

31-2-106. Definitions.

(a) As used in W.S. 31-2-106 through 31-2-110:

(i) “Flood vehicle” means any motor vehicle that has been submerged in water to the point that rising water has reached over the door sill and has entered into the passenger or trunk compartment of the vehicle and the actual dollar amount of the damage would not cause the vehicle to be titled as a salvage vehicle. Disclosure that a motor vehicle has become a flood vehicle shall be made at the time of transfer of ownership and the next certificate of title issued after the transfer shall be branded with the word “flood”;

(ii) “Certificate of title, branded salvage” means a motor vehicle ownership document issued in this state to the owner of a salvage vehicle conspicuously branded with the word “salvage” across the front of the certificate;

(iii) “Rebuilt title” means the certificate of title issued in this state to the owner of a rebuilt salvage vehicle conspicuously branded “rebuilt” across the front of the certificate of title;

(iv) “Rebuilt salvage vehicle” means any motor vehicle which was previously issued a certificate of title branded “salvage” and has a decal stating “rebuilt salvage vehicle” affixed as required by W.S. 31-2-108(d);

(v) “Salvage vehicle” means any motor vehicle which has been wrecked, destroyed or damaged to the extent that it has been declared a total loss by the insurance company or, in the event an insurance company is not involved in the settlement of the claim, the total estimated or actual cost of parts and labor  to rebuild or reconstruct the motor vehicle to its pre-accident condition exceeds seventy-five percent (75%) of the actual retail cash value of the motor vehicle, as set forth in the most current edition of any nationally recognized automotive appraisal guide or other source approved by the Wyoming insurance department. The value of repair parts for purposes of this paragraph shall be determined by using the current cost of the repair parts to be used in the repair. The labor cost of repairs for purposes of this paragraph shall be computed by using the hourly labor rate and time allocations that are reasonable and customary in the automobile repair industry in the community where the repairs are to be performed.