Totaling your vehicle is one of the scariest circumstances to imagine as a driver. Unfortunately, it happens frequently even to the most careful drivers. If you are ever in this circumstance, it is important to know how to file a claim after everyone is safe.
When is a Vehicle Considered Totaled?
Sometimes, an accident damages a car to the extent that you cannot reasonably repair it. In other words, the damage is too severe (and expensive) to fix. As a result, your insurer won’t want to pay for the action. Instead, they will write-off, or total, the vehicle.
A variety of reasons will lead to a totaling action. Generally, though it occurs when a vehicle’s value is less than the total cost of possible repairs. For example, a ten-year-old car might only be worth a few hundred dollars. If it sustains thousands of dollars in damage (for new parts), fixing it will prove impractical. An insurer is likely to total the car.
Getting Your New Vehicle Costs Covered
After a totaling, you’ll need to follow a certain process to get a new vehicle. Your existing car insurance can often provide a settlement to help you buy. However, whether you get this help depends on your policy. You’ll generally need collision or comprehensive protection to qualify.
Collision insurance pays for vehicle damage or totaling that results from an accident.
Comprehensive insurance pays for non-accident damage or totaling. It might cover damage from fires, theft, weather or vandalism.
Still, even once you have this coverage, review your policy. You might not be able to get the full, new-car value of your totaled vehicle.
Some policies only include actual cash value vehicle coverage. They’ll only pay you based on the value of the car at the time of the accident. Since cars depreciate over time, the amount you can receive from a claim will always drop.
Other coverage can include new car replacement or full-cost coverage. However, your ability to get this protection might vary based on the age or mileage of the car. It might also prove more expensive.
Having your vehicle appraised by a professional can help you figure out whether or not your vehicle truly is totaled. Make sure to speak with an insurance agent after an accident to get the compensation you need and deserve after totaling your vehicle.
Contact Wilgus Insurance Agency today or visit one of our locations below!
1203 Pemberton Dr. Salisbury, MD 21801
400 Delaware Ave 103 Millsboro , DE 19966
10977 State St. 1 Delmar, DE 19940
22937 Sussex Hwy. Seaford, DE 19973
W Martin St Raleigh, NC 27603