A total-loss accident involving a vehicle is defined by the insurance industry as an accident where the car is damaged beyond repairing. There is more paperwork to file and steps to go through with a total-loss accident than with less destructive types of accidents, and knowing beforehand what to do can speed up the process of getting the insurance money you have coming to you.
Report immediately
It generally takes an insurance company about a month to fully process a total-loss claim. That means that you must report the accident immediately because the sooner they can get working on it the better.
Use the insurance company’s favorite lot
Have your totaled vehicle towed to the insurance company’s preferred auto body shop; if you don’t know the name of this shop, then call your insurance company and ask them because they are almost certain to have a favorite. If you don’t like the shop, it really doesn’t matter because your car is a lost cause anyway. Using a shop that the insurance company enjoys working with will speed up the whole process.
Get your paperwork together
As soon as you can, locate the title of your vehicle and be prepared to give it to your insurance company. Also, if you are still paying for your car, figure out exactly how much you still owe. The insurance company will need this information to get the money you have coming to you. Additionally, if you have receipts for any upgrades you made to the car since buying it, then gather these together and give them to your insurance company.
Get a sense of the vehicle’s worth
While your insurance company will, of course, have the final word on the worth of your vehicle, it’s best to have a sense of this yourself so that you’re prepared to argue your case if you disagree with their assessment. Checking the Kelley Blue Book value of your totaled vehicle is a good place to start and will give you a ball park figure to work with.
From there, check out what people are paying for vehicles of the same year, make and model as your totaled car. Insurance companies often do this themselves, and it’s a good way to make sure that there aren’t any mistakes or misunderstandings as you try to get compensated for your ruined automobile.
