Factors that Lead to your Car Being Totaled
No driver ever thinks that they may end up in an accident. But this has become common nowadays. There have been reported more cases of claims as time goes. IT is made worse by there being higher repairs cost for each vehicle. You shall find some states in which if the car repair cost exceeds a certain preset percentage, the car is declared totaled. The value they consider is not the original car price, but the prevalent one at the time of the accident. This has resulted in cases where a car is still drivable but is being written off.
It is important to understand what could cause yours to be totaled too. You shall do so when you first find out what age your car has. There are now new cars coming into the masses, but most are still the old ones. You may think they are cheaper to fix, but you may be wrong.
You should find out how much your automobile is indeed worth. Do not look at the value which you spent on it. Insurers go about it by making comparisons with similar models out there. They will then factor in previous damage which lowers its value. You however, increase its value through any previous upgrades.
The cost of repair shall be the next indicator. Should it be more than the current car value, you have yourself a totaled car. The cars being produced nowadays come with plenty of options, such as sensors, which add to the value of each basic component. IF that part gets spoilt, the overall damage shall be way too high.
If you wish to keep the car after the totaling, you can. The insurance company shall pay you the salvage amount, but then give it the salvage title. This shall minimize further the car’s value.
There is also a need to know who led to the accident happening. This is something the insurance companies will wish to do since they have to foot the bills and the causer’s cover is to be used. The sources of proof are usually the police report, and the driver’s statements. In such a clear situation, there is no need for the insurance company to launch its investigations into the incident. They shall use photos to come up with a figure. IT is also hard to find fault lying with one party. The amount to be disbursed will in such a case be a percentage of the claim amount. This percentage is the same as the one that falls on the other party in the accident.
You thus need to take care of your car. You need it to have the highest value. There are plenty of sites on which you can read more info. You shall also find blogs on which you can read more now about totaling issues.