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I work for a major insurance co. in NC as an adjuster. There are many things that I consider when evaluating a wrecked car and if it is repairable or not. First is the cost of repairs in relation to value of the car. Each state has its on rules on this, but 75% damage to value makes it a total by law in most states. I also look at the chances that there is hidden damage that can't be seen until the car is torn down. IF it is close and I think there could be hidden damage, I total it. If it is a third party claim(one of our customers hits another car) then I would tend to total it quicker. I would have rental costs and diminished value claims to consider. Human nature also figures in to it. If a car is borderline and I can push it either way, I will try and go with what he owner wants to do. That is, if he has not been a jerk to deal with. The op wanted to know about a water salvage car. RUN from this car. I would not touch a water damage car with a ten foot pole, unless I was buying it for parts. Most of the time the real damage on 90% of these cars will not show itself until 6 months or a year down the road.
As far as the value goes, when I am settling a total loss claim on a car with a salvage title, the absolute most I would pay is trade in value. Most of the time you would be looking at 60 to 65% retail. As long as you know what you are getting and get it at a bargain price, nothing wrong with a salvage car caused by an accident. BUT, if it is salvage because of water, DO NOT BUY IT.
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surf40 
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