What Do I Do When My Insurance Company Says That My Car Is Totaled?

There is nothing more traumatic than being involved in a bad car accident. This is especially true if your car was damaged beyond repair or salvage. But you do have options even in this instance. These are the subject of this article.

Your personal injury lawyer will tell you not to lose hope if your car is damaged beyond salvage and/or repair and the insurance company is not willing to reimburse you. You will likely disagree with your insurance company’s decision. Your lawyer will tell you that it does make a difference if you’re dealing with your own insurance company versus that of the defendant’s.

Which insurance company will pay for the damage?

Personal injury lawyers in Oakville know that the insurer that will pay for the damage to your car depends on whether or not you live in a no-fault state or not. Keep in mind that no-fault states will always allow the insurance company to reimburse you for your damaged car. It doesn’t matter if you were 100% at fault. You should also know that the type of insurance company you are dealing with will dramatically influence the payout.

Your personal injury lawyer will tell you that some no-fault states will exempt vehicle damage claims from no-fault rules. This will make you smile because it allows you to sue the other party (if he or she was at fault) either in or out of court.

The situation is somewhat different if you live in a state with traditional personal injury accident rules. Your lawyer will inform you that the factor that determines if you will get any reimbursement, is negligence. This means that you’ll only receive a check from the insurance company if someone was at fault.

Collision coverage

Your personal injury lawyer can think of this kind of coverage as being supplementary insurance. Therefore, it covers any and all damage that your vehicle sustains in a car accident. This is the reason why it tends to be pricey. Another reason for its higher price lies in the fact that it pays you for damage to your car even if you were the one at fault.

Just keep in mind that collision coverage rules vary by state. You should also keep in mind that the defendant’s insurance company will only pay for the damage that your car sustained. Therefore, it’s always in your best interest to check the laws in your state regarding personal injury. You should also hire a lawyer. Your chances of getting the settlement that you want and need will increase dramatically.

How much will the insurance company reimburse you?

The insurance company will only pay up to the limits of the insurance policy. Therefore, you’re out of luck if you have $100,000 in property damage but the defendant has an insurance policy with a limit of $50,000.

What happens when the insurance company says that the car is unsalvageable?

Your personal injury lawyer in Oakville will tell you that there is hope even in this dire situation. The reason why is because the insurance company will pay you what your car was worth on the market (fair market value) on the day the accident occurred. Just keep in mind that that’s all the compensation you will get from the insurance company. You’re out of luck if you owe $32,000 on your car but can only get $22,000 from the insurance company.

This is the reason why the insurance company can legally take your car and sell it on the secondary market for more money. Remember that the insurance company tends to exercise this legal right almost all of the time.

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