Being involved in a car accident is an incredibly stressful experience, and it can be even more so if your car ends up being totaled. Knowing what to expect post-accident—from filing a claim to getting your car replaced—can help ease some of the stress associated with this difficult situation. Here is what you need to know if you find yourself in this unfortunate situation.
Understanding the Insurance Claim Process
When you file an insurance claim, your insurance company will send an adjuster to assess the damage done to your vehicle and determine whether or not it is “totaled.” A car is considered totaled when its repair costs exceed the value of the vehicle. If that’s the case, then your insurance company will pay you for the pre-accident value of your vehicle minus any deductible or salvage value that may come with it.
Getting Your Car Replaced
Your insurer will determine if your car is considered to be totaled. During this time, you will want to start looking for a replacement vehicle. Once your vehicle is noted as “totaled”, your insurance company will issue you a claim payment. Depending on your insurance company, this may be in a form of a paper check, a payment card, or a deposit into an account. You can use this money as a down payment on a new car or use it toward repairing another used vehicle of similar value. If your policy has rental coverage, you have the option of renting a car.
Your Comprehensive Insurance Coverage
One final note: if there are no other drivers involved in the accident, chances are that any damages incurred will fall under comprehensive coverage rather than collision coverage on your auto insurance policy. That means that if someone stole or vandalized your car, comprehensive coverage would kick in rather than collision coverage since those types of incidents don’t involve other people or vehicles. It’s important to understand which type of coverage applies in order to know exactly what kind of reimbursement you should expect from filing an insurance claim after a totaled vehicle incident occurs.
When faced with a totaled car due to accident, vandalism, theft, or other unforeseen events; understanding one’s auto insurance policy and what comes next is key for making informed decisions about how best move forward with replacing one’s damaged vehicle. By understanding how comprehensive and collision coverages work and asking about additional services offered by insurers such as replacement options or rental cars during repairs; owners can make sure they are able get back on their feet following this difficult experience as quickly as possible!
To learn more about auto insurance coverage contact Premier Insurance Consultants, your Greenville insurance agent.
Disclaimer: This article is not expert advice. Limitations and conditions may apply. Please check with your local Independent Insurance Agent for details.
