There’s obviously nothing fun about being involved in a car accident. But the more you know beforehand, the better the chances you’ll be ready to deal with the outcome. For example, what happens if you have an accident and your insurance company says your car is totaled?
How an Insurance Company Determines Whether or Not a Car is a Total Loss
A lot of people assume that an insurance company looks at how much damage is done to a car when deciding whether or not to declare a car as being totaled. They also think the insurer will look at the value of the car after the accident.
But the answer is simpler than that. In most cases, a car will be declared a total loss if the cost of repairing it exceeds the value of the vehicle.
If your car has been declared totaled, there are a few things you should do. First, you’ll need to find the title if you own the vehicle outright. You’ll need it in order to prove to the insurance company that you don’t owe any money on the car.
If you don’t own the car, you’ll need to give the insurance provider the contact information of the finance company. The insurer will have to pay the financing company before it can send you any money.
If you own the car, you might still be able to keep it even though it’s considered totaled. However, you’ll need to take a lot of factors into consideration. For example, will it pass an inspection after it’s repaired? Will the repair costs make it worthwhile to keep the car? Will you be able to find an insurer to cover the car?
Contact First Choice Collision
Whether you’ve had a major accident or a minor fender bender, the professionals with First Choice Collision can help get you back on the road. Call
936-447-6001 (Conroe), 281-894-9933 (Cypress) or 713-937-9297 (Houston) to schedule an appointment, or contact us online.