Accidents occur every day on the roads. Some are simple fender benders, while others can have more dire consequences. Whatever the circumstance is, it could result in a total loss depending on the condition and value of your vehicle. A total loss to your vehicle is much more than just a repair. A total loss means you lose the ability to operate your vehicle. It’s important to act quickly after a total loss accident so that you aren’t stuck without a vehicle longer than you have to be. There are certain steps you need to take when your vehicle is considered a total loss and cannot be repaired.
File a Claim
Total loss claims typically take longer to approve than other types of claims. When you find out that your vehicle is a total loss, you need to act immediately. Contact your insurance company and let them know right away what you are dealing with. They can then begin the process of getting your car insurance paperwork done and the money to you. To speed up the process, call your insurance company after you call 911 following an accident.
Have it Towed
Right after the accident, you need to assess the vehicle yourself. If it cannot be driven, have the vehicle towed to your insurance company’s preferred shop. This will help speed up the claim process for your car insurance.
Figure out Your Payoff
It’s important that you know how much your payoff is on the vehicle. When your insurance company writes you a check for the value of your vehicle, you want it to be close to your loan amount so that you are not responsible for paying the difference out of your pocket. If you owe more than the value, gap insurance can help cover the difference.
Estimate the Value
You may want to investigate how much your vehicle is actually worth. If you have the vehicle paid off already, you can then use the check provided to you by your insurer to help purchase another vehicle. Having an estimate on what the check will be can help you plan. You can use numerous sites to get an idea of the value, including Kelly Blue Book.
What you should have:
· Make and model of the vehicle
· The condition of the car
· Insurance documents
· Loan information
All of these documents will help you assess the amount of money your insurance company may pay you for your vehicle. Armed with this information, you can begin the process of searching for a new car.
We’ll help get you back on your feet. Call Mitchell & Mitchell Insurance Agency at (888) 512-8878 for more information on Sacramento auto insurance.