It is common to think that you may never be in a head-on collision type of car accident. We are however witnessing more accidents these days. There have been reported more cases of claims as time goes. IT is made worse by there being higher repairs cost for each vehicle. There are also some states in which a car can be totaled if the damage value exceeds a certain percentage. 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 need to find a way of telling whether yours has been totaled. You should first find out how old the car is. As much as new cars are being bought, the old ones are still the most. Those are not necessarily cheaper to fix.
You should find out how much your automobile is indeed worth. Forget the value you got it for. An insurance company shall make a comparison with other similar models in the market. They will then factor in previous damage which lowers its value. If you did any upgrades, it should increase in value.
The cost of repair is another indicator. Should it be more than the current car value, you have yourself a totaled car. The cars being produced nowadays come with plenty of options, such as sensors, which add to the value of each basic component. This explains why its value shall not be looked at as a small one when the parts get damaged.
You have the option of retaining your car even after they say it is totaled. They shall pay the salvage amount, but leave the car titled as salvaged. This gives you a car with even less of a value.
It is also important to determine who was at fault in the accident. 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 police reports shall state this, as will the driver’s statements. In such accidents, the insurance company will not bother conducting its in-house investigation. They will only look at the images to fix an amount. IT is also hard to find fault lying with one party. The amount to be disbursed will in such a case be a percentage of the claim amount. This percentage is the same as the one that falls on the other party in the accident.
It is thus essential that you take good care of your vehicle at all times. It needs to keep the highest value. The internet has web pages on which you shall find more info. You will also come across blogs on which you can read more here.