Was Your Car Declared Totaled After an Accident?
Through smoke and squealing tires, your accident has left your car a wreck. As much as you'd like to prevent it, there's no way to go back. You survived, and that's what's important. But what happens if your car is considered totaled? If the insurance company deems your car a "total loss," you may be left without transportation. There are several factors that determine whether or not your car is totaled, especially if you own an older model.
We'll help you understand the steps your insurance company follows to arrive at whether or not a car is totaled and how they determine its overall value. Knowing their process can help you negotiate a fair price and keep you informed of how long it may take to get reimbursed for your accident.
As always, if you're injured in an accident that totaled your car, contact our legal professionals for a free case review. It's quick, easy, and costs you absolutely nothing to speak with our experienced legal team. There's no obligation to use our services when you call. We're available 24/7 at 1-866-943-3427 or contact us online by completing the form located to the right.
What's Considered a Totaled Car?
Many drivers believe that the extent of damage on a car is the reason whether or not it's declared totaled by an insurance company. While damage is a contributing factor, it's generally the cost of repairs vs. the true market value that determines if your case is a total loss.
This means that an older car with a lower market value could be considered totaled after a minor fender bender if the parts and costs of repair are higher than its actual value. $5,000 worth of damage to a high-end luxury vehicle will probably warrant a repair, whereas the same amount of damage to a late-80s pick-up truck will most likely result in a totaled car.
Being left without transportation can cause serious problems in your everyday routine. Visit our Car Rental page for more information about renting a car after your accident.
Know the Value of Your Car
While most insurance companies have their own ways of determining a car's worth, it's important to arm yourself with information about the possible market value of your car. You'll be able to anticipate the reimbursement amount from your insurance company. If you find that their offer greatly differs from your own estimate, you may need to hire your own appraiser to evaluate the car.
Remember, the insurance company may need to factor costs to sell the car to salvage, as well as your deductible in some cases. Make sure you understand exactly what's included in and coming out of your reimbursement check.
Injured in Your Car Accident? Contact Us Today
If you've been injured in your car accident, we can help you recover money for medical bills, pain and suffering, as well as your lost time at work. We've recovered over a billion dollars for our injured clients, and we're ready to fight for you.
Contact us at 1-866-943-3427 or complete the form located in the top right corner of this page for a free legal consultation. When you speak with our professionals, there's no fee and absolutely no obligation to use our services. We'll answer your legal questions and determine the best course of action for your case.
Remember, there's never a fee unless – and until – we get money for you.