How to Get a Fair Settlement for Your Totaled Car

Some car accidents are minor fender benders that result in barely a scratch. Others are more serious in nature, resulting in major damage to your car. In some cases, your vehicle may even be totaled.

When your vehicle is totaled, it is a total loss. That means it will cost more to repair it than what your vehicle is worth. In these cases, the insurance company will cut you a check for the value of the car.

This is a frustrating situation. You are left without a vehicle and on top of that, you will need to buy another one. You may not be able to buy one solely on the money you receive from the insurance company, so you’ll likely have to start over and get a car loan.

You have to remember that the insurance company is not looking out for your best interests. They may not give you a fair deal on your vehicle. Because of this, it’s your job to negotiate the best offer possible. You should never accept a first offer without knowing all the details. Get the most money possible for your totaled car with these tips.

Provide Vehicle Sticker Information

The insurance company will give you an offer based on the fair market value of your car just before the accident. To get the most money possible, provide your company with the sticker details that accompanied your car when you purchased it.

If you didn’t save the sticker, contact the dealer where you bought the car and ask for a list of your vehicle’s features. If you’re unable to find this information, you can search online for your vehicle’s year, make, and model. Provide this information to the insurance adjuster so that you can avoid a lowball offer on your totaled car.

Get Comps

Getting local comparables, more commonly known as comps, can help you get more money from the insurance on your totaled car. Comps look at similar vehicles in your area that are for sale or have recently been sold. These comparables include factors such as make, model, year, mileage, and condition. Some websites provide total loss car value calculators to help you compare your vehicle to local comps.

Get a Written Settlement Offer 

Have the insurance company send you a valuation report or Certified Collateral Corporation report. These are used to determine the settlement amount.

Make a Counteroffer 

Send your insurance company your counteroffer along with all relevant documentation, such as, used cars reports, recent repair costs, and the NADA value.

Contact a Personal Injury Lawyer 

The total loss of a vehicle in a crash can be a devastating experience emotionally and financially. Make sure you get the most money possible for your wrecked car.

Need help negotiating? A Houston car accident attorney from The West Law Office, PLLC can work with you and the insurance company to get the most money possible from a crash. Schedule a consultation to learn more. Fill out the online form or call (281) 347-3247.

Source:

clearsurance.com/blog/5-tips-to-negotiate-the-best-settlement-for-my-totaled-car#:~:text=Can%20you%20negotiate%20an%20insurance,history%20to%20prepare%20your%20counteroffer.