What happens when the repair cost of a vehicle exceeds it's current market value? Keeping in mind, the car is still driveable but only has exterior damage.

 

I'd call it a "Write Off".

 

ok.

insurance company is a business. right?

like all businesses, cut down on cost to keep the profit margin high.

apparently, they will give you the lesser of the two values.

welcome to economics 101 for people hiding under rocks

 

total lost ur car ! so they pay u less and they make money !
that's insurance

 

I was actually wondering whether they would cut me a check for part of the repair costs.

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Not all business perform in that manner. Sometimes long run profit is minimized in order to promote long run profit. It's nice how you tried to generalize that behavior to all businesses. But let's not get more off topic than we already are. I'd like to discuss economics with you, but unlike some people, I just don't have the time to be living in front of the computer and watching my post counter increase. 10000+ is impressive though.