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Light blue car getting towed1/17/2024 ![]() ![]() The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. In this case, your insurer will pursue the process of subrogation (recouping costs from another insurance company) to recover the cost of your collision claim and deductible. In the event the other driver refuses to admit fault, the insurance companies will conduct their own investigation and determine who is responsible. If you total a car and don’t have collision insurance, your insurer will not reimburse you for the ACV of your car. However, if you don’t have valid insurance in place when the accident occurs, your options for compensation might be limited. If your policy has uninsured motorist insurance (UIM) or collision coverage, you can use them to file a claim. If the at-fault driver does not have insurance or is underinsured, there are still options to recover your costs. Your collision coverage will provide coverage for your own vehicle. If you are at fault for the accident, your insurance will cover other people’s damages. In most states, the insurer of the driver who is negligent or at fault for the accident is responsible for paying accident-related losses. It’s also a good idea to do your own research on your car’s ACV to make sure the insurance adjuster’s estimate is accurate. If you financed your car and still owe money, you’ll need to review your car loan and know how much balance remains. You’ll also want to keep track of related paperwork that includes any bills or professional damage assessments. You’ll definitely need the title of your car, because if your car is totaled, you may have to sign it over to the insurance company. It is essential to provide proof in the paperwork for all accident-related losses to help your claims process. The shop will provide the insurance adjuster an estimate for repairs, and the insurance adjuster will then make a determination of whether to total the car. ![]() ![]() You can tow your car to any auto shop, though you can simplify your insurance claims process by taking your car to one that is already approved by the insurance adjuster handling your claim. Get Your Car Damage Inspected at an Auto ShopĪ full assessment of car damage needs to be conducted by professional mechanics. You’ll need to immediately report the accident to your own insurance company and then also file a claim with the at-fault driver’s insurer. File an Insurance ClaimĪfter a car accident, your first step is to file an insurance claim. When a vehicle is totaled and you are not at-fault, you’ll need to follow the steps to making a claim and acquiring proper documentation in a timely manner in order to recover the full scope of your accident-related losses. Repairs are often more expensive than they may appear, so even a small accident can result in a determination of your car being totaled. Whether or not your car is totaled is not based on how drivable it looks after the accident. Alternatively, an insurer can total a car if it cannot be repaired safely. States without a TLF may compare the cost of repair to the car’s ACV. To reach a total loss determination, insurers can set a higher percentage than the state, but not a lower one. Many state laws have a total loss formula (TLF) for when insurers are required to make a declaration of complete loss and total a car - frequently around 70 percent of the car’s ACV - though it can be higher or lower. This percentage formula is set by state laws and insurance companies, and may vary accordingly. A total loss is declared when the cost to repair the vehicle would equal or surpass a percentage of the total value set by the insurer. This number is then compared with the cost of repair. A car is considered a total loss, or totaled, when the cost to repair the car is more than your car’s actual cash value (ACV) just before the accident.Īn insurance adjuster will determine whether or not your car is totaled based on the estimated ACV of your vehicle (this is what the car was worth before the accident, not what you paid for it when you bought it). ![]()
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