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Total Loss Insurance Declaration: Steps to Take If Your Car is Totaled

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Total Loss Insurance Declaration

After a fatal car accident, the result is usually heavy damage to the car and in the worst case scenario, death. If your car is heavily damaged, the insurer may consider it as a “total loss” and that means you will not receive compensation. In this case, working with our Dallas fatal car accident attorneys to help navigate through the case and provide legal options. This article will help you understand what “total loss” means and what to do to get the insurance company to pay for the loss.

What Does Totaled Car Mean?

In a broad perspective, a totaled car is one whose value is less than the expenses of repairing it. For example, if the current market value of your car is $6000, but it will take around $7000 to repair the damages, the insurance company will consider it totaled. However, deciding if the car is a total loss is always complicated, and the insurer will do everything to avoid compensating you. There are two situations used to determine total loss.

  • The adjuster will calculate the cost of repairs. If this cost surpasses the cost of the car by 75%, the vehicle is totaled.
  • In the other situation, the insurance company adds the cost of repairs to the current value of the car after the accident. If the cost exceeds the actual value of the car, that is a total loss.

If the insurance company deemed your car as a total loss, it is not always a total loss for you. There are several options for you.

How to Get the Insurance Company in Texas to Pay for the Damages

It is possible to get compensated for the total loss. However, there are several things you must do.

  • Choosing the Insurance Company

If the accident involved another car, you have two choices. You can choose to work with your insurer or the insurance company of the other driver. The person who pays for the loss will depend on the fault and the kind of insurance the party at fault has.

  • Considering the Possibilities

In this case, there are three possibilities. You will file a claim with the other driver’s company if they were at fault. On the other hand, if you are at fault, you will have to file a claim with your company. Unfortunately, if you are at fault but do not have the collision coverage, you will lose the opportunity of getting paid for your totaled car. If the vehicle was damaged by something else other than another driver, say a tree fell on the car, or the vehicle was destroyed by fire, your comprehensive coverage will help get compensation for the totaled vehicle.

Getting a Lawyer in Texas

If you have suffered a total loss after a car accident, it may be essential to discuss your available options with a lawyer. This is crucial, especially if the fatality of the accident led to severe injuries. Getting a knowledgeable lawyer will ensure you know the steps to take should the insurance company deems your car a total loss. If you want to sell, repair or donate the vehicle, you can ask the company to let you keep it.

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