Car insurance providers usually declare cars a total loss following a severe accident. The reason is that the cost of repairing these cars is greater than their cash value or market value at the time of the crash. When an older car is involved in a minor accident, it is highly likely to be declared a total loss because of how quickly cars diminish their value.
There may be circumstances in which your totaled car remains worth less than what it is worth, which means you are unsure of the legal options you have to recover compensation for your damages. Thankfully, a Los Angeles car accident lawyer can guide you through the claims process, ensuring you secure maximum compensation for all your damages.
How Your Claim Can Benefit from Your Vehicle Being Totaled
Insurance providers often downplay the seriousness of car accident claims as they want to avoid paying the victims full compensation. In a severe accident, the insurance company may have difficulty arguing you did not sustain an injury.
In addition, insurers relate the seriousness of your injuries to your car’s damage. If your car didn’t sustain damage, the company may assume you only sustained minor injuries. If you don’t have a totaled vehicle, the company might downplay the severity of your injuries. The insurer may state other reasons to undervalue your claim. Keep in mind that recovering full compensation can still be difficult even if your car has been totaled. This is the reason you need a car accident lawyer to represent you.
Whose Insurance Pays for Your Totaled Vehicle?
The insurance company may have difficulty arguing that you didn’t sustain injuries in a severe accident.. In California, the minimum required coverage is $5, 000 for property damage. If you are to blame for the accident, you might have to file a claim with your insurer to get compensation for the cost of repairing your car or the totaled car’s fair market value. Such costs may be covered by collision coverage because of its first-party coverage. But you must have this additional coverage to use it.
Recovering Your Car’s Full Value
To dispute the value of your car, you must provide recent photos, sale prices of similar cars, and independent appraisals conducted by a mechanic who has experience valuing cars. Also, you should hire an attorney to deal with the insurer for you. Also, your lawyer can research your car’s fair market value.