Someone Has Hit My Car & Now Their Insurance Company Says it’s Totaled
There’s nothing worse than a car accident. Okay, perhaps an accident where your car is seriously damaged and you weren’t even the at-fault driver is worse. The truth is, such an accident can happen at any time, anywhere and to anyone. This is precisely why it’s crucial to have adequate auto insurance coverage.
So, then, what happens if another person hits your car and their insurance company tells you the car is totaled? An insurance company will decide that a vehicle is totaled or a ‘write-off’ when the cost of the damage is more than the value of the car before the accident. If you drive an older car, your chances of having the insurance company tell you the vehicle is totaled are just that much higher.
The other driver’s insurance company will need to assess your vehicle to determine the precise value, even if they’ve decided that it’s beyond repair. The insurance company will send one of its adjusters to look at your vehicle and to determine a value for the car. If you make a claim to the insurance company for your car (and it’s understandable that you would), they will need to know the value before they can write you a check for compensation.
In order for you to recoup the money you need to replace your vehicle, you will likely want to make a claim to the other driver’s insurance company. To do so, you will be required to fill out a claim application which the company will use alongside the adjuster’s report to determine the amount that you are entitled to.
If your claim is approved, the insurance company will write you a check that should cover the cost of having to replace your vehicle; basically, it will be enough money to purchase the same make and model car from the same year. You may choose to either let the insurance company take your wrecked vehicle, which they will likely sell for parts, or you may decide to keep and sell the car for parts yourself. If this is the case, the insurance company will likely minus the amount of money they would have received had they sold the car, from your check.
Learn what you need to about what to do if you are not the at-fault driver and your vehicle is totaled. Contact a licensed insurance agent today.
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