The road accident statistics are shocking. It can make you wish that cars should stop existing altogether. We could be better off going back to the days of walking or using horses and donkeys for transportation.
It is no laughing matter when 1.35 million people lose their lives because of road accidents every year. Some major issues are driving under the influence, speeding, and distracted driving. Yet, it’s easy to reduce the risk of accidental death by up to 50% by wearing a seatbelt.
The same applies to child restraints at 60%. Ignoring safety features is also a significant contributor to road accidents. Such include seat belts, child restraints, and helmets.
So now you find yourself in the unfortunate position of having been in a car accident. A truck driver decided to run the red light and slammed into your vehicle. From that terrible moment until you woke up at the hospital, you’re not quite sure what happened.
After an extended hospital stay, you can’t help but be grateful that you lived to see another day. But, the same did not happen to your car. Now, you don’t know what to do after the total loss accident. Well, stumbling on this article will provide all the answers you need.
Get a Personal Injury Lawyer
The injuries you got after the accident have made it impossible for you to return to work. You are dealing with the loss of income and huge medical bills. It will be hard for you to cope, and are not quite sure how you will meet all your financial obligations. There is a solution that Pasadena injury attorneys can provide.
Here is why you must work on getting the right personal injury lawyer. The at-fault driver’s insurance company will come after you. The first thing they may try to do is to show that the accident may have been your fault somehow.
The police reports show that the truck driver was under the influence. Without a doubt, he is to blame for the accident. Personal injury claims provide compensation for recklessness or negligence from the other party.
If they can’t prove that, they will try and get you to accept a settlement. Remember, their interests are their top priority. What they offer as compensation may not be enough. Please do not sign any documents or accept liability for anything. Indeed, don’t talk to any third parties without your injury lawyer present.
Understand Total Loss Car Accidents
A total loss accident means that the damages to the car are beyond repair. Even if possible, the insurance company may consider it not worth the effort. This depends on how much it would cost vis-a-vis the actual value of the vehicle.
Your injury lawyer has extensive knowledge of car accident litigation. He should be able to explain applicable state laws on total loss cases. Every state has its interpretation. That is why it is critical to get the right representation.
One state may calculate the dollar amount that could go into the repairs. Another will take it as a percentage of the car’s total value.
Anything exceeding 75% would be too high to consider for repairs. Interestingly the same applies to insurance providers. One may dismiss the vehicle as a total loss. While the other sees that the car has not exceeded the absolute loss threshold.
Report the Accident to Your Insurance Company
One your first calls or stop should be to your insurance company. The window within which you can file a claim is not long for such accidents. Depending on the state, it could range from one week to a little more than a month.
Total loss claims are a bit more complicated than normal bumper accidents. The sooner you start the process, the faster you can receive your claim.
If someone was with you at the time of the accident and took photos, share this with your insurance company. Otherwise, they will have to depend on police documentation.
The underwriters will walk you through the process so that they can process the claim. Please note if you can get a full settlement, you must surrender the vehicle to the insurance company.
A partial settlement allows you to keep the vehicle to do with as you wish. You can salvage, donate the car, or even sell the parts.
Understanding Payouts
You should also be aware of how the insurance company calculates the payout. Most will determine the amount based on fair market value. But, true to the nature of insurance companies, it may not be very easy to understand what fair means. Your personal injury lawyer can help you understand the terms.
You may have taken the time to do some research on the actual value of the car. That is why you disagree with what the insurance company is offering as a payout. It is your right to dispute the figures and ask them how they arrived at the amount. But, be ready for a battle. The underwriters would rather part with as little money as possible.
Also, please note the type of insurance cover you took has a big role to play. Comprehensive and collision coverage will get you the actual value of your vehicle. If you had gap insurance because you were still financing the car, it could be a big help.
Sometimes, what you get as a payout would not cover the loan amount. The gap insurance will cover the difference for you. Do note, gap insurance will not cover personal injuries or property damages.
Final Thoughts
Any car accident is devastating on a physical, emotional, and financial level. An injury lawyer can help fight for compensation if another party was to blame. You can be sure of medical bills and loss of income if you cannot work during recovery.
If the accident resulted in a total loss of your car, your insurance will kick in. Report the accident to your insurance company as soon as possible. You want them to start processing your claim ASAP. Your lawyer will take you through what total loss accidents means. That way you know what to expect.
