Know Your Options With a Totaled Car

Being in a serious auto accident can be devastating and cause you a lot of grief. First to be taken care of is the injuries of anyone involved in the accident. After everyone has been treated for their injuries and you’re sure they’re going to be all right, now you have to deal with your car. What if it was totaled and what does that mean to you? Will the insurance company give you enough money to purchase a comparable vehicle? Your insurance company makes the decision whether your car is repairable or not by taking into consideration your states laws regarding this situation.

You probably have met your claims adjustor by now. They will be the one to put together the information to decide if your car is to be totaled and if it is how much they will pay you to replace it. Some of the information considered is the mileage on your car, the body condition, inside and out, and any specialized equipment that was added to the car if you kept the receipts. Also considered is what a similar car is going for on the market in the area your live in. After all these things have been calculated the adjustor will come up with what is called the Actual Cash Value of your car. Hopefully, you will be happy with the amount they are willing to pay you for a replacement vehicle. You might even able to find a car for less and have some extra cash for other expenses you might have. That would be a great bonus after such a bad experience.

What if you don’t agree with the amount they have offered you? You might think that your vehicle was worth more than they do. Depending on what state you live in and what their laws are regarding salvage vehicles, you may be able to keep the car and repair it yourself. There are obstacles in your way that need to be taken into consideration when you make this decision. The salvage car buyers can give your insurance company a value for your demolished vehicle and the insurance company will pay you the difference. Keep in mind though that your vehicle will now be in the salvage category and will be tagged with that label on its registration.

Keeping the totaled car is not usually a good idea because your car even though repaired will never be the same after a serious accident. It is kind of like the human body, after you have a serious operation your body will most likely not be the same afterwards. The condition may be fixed but then one of the issues is you will have to deal with is scar tissue from any surgery which can cause many problems later on down the road. Well, repairing a totaled car is something like that, it can be repaired but then something else may be affected that didn’t show up during the time the accident repair work was done.

Source by Otto Ingrid