Have you recently been involved in an accident?  Depending upon the extent of the damage, your insurance company may determine that your vehicle is a total loss.  In order to get the most money out of your vehicle, however, it is helpful to know what a total loss is and the questions you should ask your claim adjustor in order to get the best price for your vehicle.

Defining “Totaled” When it Comes to Cars

When it comes to calling a vehicle “totaled,” there are several different criteria that are considered.  One of these is whether or not the vehicle can be repaired safely.  Even if it can be repaired for relatively little cost, the repairs will not be repaired to a safe level.  In addition, if the cost of repairing the vehicle will be more than the actual value of the vehicle, the insurance company will also consider it to be a total loss.  In some states, there are also certain laws in place that insurance companies must follow when determining whether or not a vehicle is totaled.

Getting the Best Price for Your Totaled Vehicle

Regardless of the reason why your vehicle is considered to be totaled, the amount of your insurance benefit will be determined based on the value of the vehicle prior to the accident.  Therefore, the insurance adjuster will consider many factors in order to determine that value.  These include:

• · The mileage on the vehicle
• · The condition of the body
• · The condition of the interior
• · The condition of the tires
• · Whether or not additional equipment or parts had been added

Of course, the adjustor will need to take his or her best guess at the condition of the vehicle based on the parts of the vehicle that have not been damaged.  Therefore, if you feel the adjustor’s estimated value is incorrect, you should discuss the issue with your adjustor and ask him or her to explain how the value was determined. 

When discussing the adjusted value of your totaled car with an adjuster, don’t be afraid to ask questions.  For example, you can ask the adjustor to provide you with details about similar vehicles that have been recently sold and you ask the adjustor to find a vehicle that more closely matches the vehicle that you have lost.  You can also ask the adjustor to explain the total loss worksheet that he or she has completed so you can get a better understanding of how the value was determined. 

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