Nobody would ever love to be involved in a car accident but being in one where your car is totaled is more worse than anyone can ever imagine. Asides from having to deal with insurance companies, paying for medical bills, finding out about insurance coverage and also filing a claim, having a car that has been totaled simply means you have to go through the stress of getting a new one. This repair cost more than car value insurance tells you how a totaled car is determined and the next steps that you should take.
You might not suffer any injuries but what about the damages that your car has suffered. If the accident was clearly the fault of another driver then you are entitled to be paid for the personal belongings you have in the car as well as being paid compensation for the damages that has been done to your car. You would find this article helpful when it comes to resolving a car that has been totaled. You can also contact an attorney for more advice while dealing with an insurance company.
You can be left frustrated and confused if your car has been totaled and this is why we want people to know more about cars that are totaled so they would not find it very challenging or difficult if they find themselves in a similar position. The nest question on your mind would be how to identify a totaled car and this is done simply when the worth of the car is not worth the amount that would be used in its repair. This is where the car is considered to be a total loss. It could also mean suffering so many damages and being unable to repair.
Repair Cost More Than Car Value Insurance
Only state laws and insurance adjusters have the ability or power to declare a vehicle as a total loss but if you have been involved in a car accident and your car hasn’t been totaled then it simply means that it can still be repaired. If this is the situation that you are in then you can begin your claims process so your car would be fixed and be able to hit the road soon again. However, there are some steps that needs to be taken before an insurance company would declare a car as a total loss. These steps include;
Having the vehicle inspected by a claims adjuster. A claims adjuster is going to check a lot of things and there are also key questions that a claims adjuster will ask if he wants to determine if your car is a totaled car or can still be repaired. These questions includes;
If there are state laws that decide when a car is a total loss or declares a car to be a total laws due to amount or extent of damage that the car has suffered
What is the ratio of the cost of repair to the value of the car
The possibility of repairing the car getting done safely
What Happens To A Car That Has Been Totaled
There are two ways this can actually go down and the first involves you wanting want the car cost before the accident happened. This is the point where the owner of the car would sign over the ownership title to the insurance company that paid for the damages the car suffered and then the insurance company goes ahead to sell the totaled car or its parts at an auction price. Whatever money is made from the auction price of the car or its sold parts is referred to as salvage value.
On the other hand, if you are so into this car that you don’t want to easily let go of the memories you have with it then you can opt for the value of the car before the accident minus the salvage value. If this is the road you want to take then the totaled car is going to have a salvage title but this clearly depends on the age of the car. Due to added risks, insurance companies find it difficult to insure a salvage title or they may end up treating your coverage differently.
Totaling a car isn’t an entirely bad situation but one thing is for sure, if you have the right insurance company beside you then helping you get back on the road can be done sooner than you think. One thing you should not fail in doing is keeping up with what your insurance policy requires and once in a while, make sure a review of your insurance coverage is done. This would make you stress less if you ever find yourself in the case of a totaled car.
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