Factors that Lead to your Car Being Totaled
It is common to think that you may never be in a head-on collision type of car accident. But this has become common nowadays. This has resulted in there being more claims to process. IT is made worse by there being higher repairs cost for each vehicle. You shall find some states in which if the car repair cost exceeds a certain preset percentage, the car is declared totaled. The value they consider is not the original car price, but the prevalent one at the time of the accident. This has resulted in cases where a car is still drivable but is being written off.
You, therefore, need to know how to tell if yours is totaled. You should first find out how old the car is. The older cars far outnumber the newer ones, as much as the latter are more popular. You may think they are cheaper to fix, but you may be wrong.
You then need to know the true value of your car. Do not look at the value which you spent on it. An insurance company shall make a comparison with other similar models in the market. If it was damaged before, that will lower its value. But if you upgraded it, the value goes up.
They also look at the cost of repair. If it exceeds the quoted value of the car, then it is totaled. Today’s cars have so many components that make their value increase considerably. IF that part gets spoilt, the overall damage shall be way too high.
You have the option of retaining your car even after they say it is totaled. The insurance company shall pay you the salvage amount, but then give it the salvage title. This tends to lower the value of the car.
There is also a need to know who led to the accident happening. This is something the insurance companies will wish to do since they have to foot the bills and the causer’s cover is to be used. The sources of proof are usually the police report, and the driver’s statements. When it comes to such cases, the insurance company rarely bothers with doing any investigations itself. They will only look at the images to fix an amount. You shall have a hard time finding fault with the only person. The amount given out will, therefore, be a percentage of the claim amount. This percentage considers the same percentage of fault for every party.
You thus need to take care of your car. You need it to have the highest value. You can also go online where there are websites to help you discover more info. You will also come across blogs on which you can read more here.
Reference: go now