My Car is Totaled: What Happens Now? A Guide to Vehicle Damage After an Accident

If you find yourself uttering the words, "My car is totaled," it's natural to feel overwhelmed and uncertain about what comes next. At Crell Law, we understand these anxieties, and we're here to guide you through the process.

What Does "Totaled" Mean?

When an insurance company declares your car "totaled" or a "total loss," it means the cost of repairing the vehicle exceeds a certain percentage of its actual cash value (ACV) before the accident. This percentage varies by state and insurer but typically ranges from 70% to 100%. Even if your car looks repairable, the insurance company might deem it a total loss if the repair costs, parts, and labor, make it economically unfeasible to fix.

The Total Loss Process: Your Step-by-Step Guide

Once your vehicle is declared a total loss, here's a general overview of what you can expect:

• Vehicle Inspection and Damage Assessment: After the accident, your insurance company (or the at-fault driver's insurer) will send an adjuster to assess the damage. They'll determine the extent of the impact and estimate repair costs.

• Total Loss Declaration: If the repair estimate crosses the total loss threshold, the adjuster will inform you that your car is totaled.

• Actual Cash Value (ACV) Determination: The insurance company will then determine the ACV of your vehicle. This isn't what you paid for it, but rather its market value just before the accident, considering factors like age, mileage, condition, and depreciation. You'll want to do your own research on comparable vehicles to ensure the offer is fair.

• Settlement Offer: Based on the ACV, the insurer will present you with a settlement offer. This amount is intended to compensate you for the loss of your vehicle.

• Accepting the Offer and Transferring Title: If you agree to the settlement, you'll typically sign over your vehicle's title to the insurance company. They will then take possession of the damaged vehicle.

• Receiving Payment: Once the paperwork is complete, you'll receive your settlement check.

Understanding Diminished Value Claims

Even if your car isn't totaled, it might still suffer from "diminished value." This refers to the reduction in a vehicle's market value after being involved in an accident, even if it's been expertly repaired. Prospective buyers are often hesitant to purchase a car with a collision history, which can impact its resale price. In some cases, you may be able to file a diminished value claim to recover this lost value, especially if the other driver was at fault. This can be a complex area of law, and it's where experienced legal guidance can be invaluable.

How a Lawyer Can Help

Navigating the aftermath of a car accident, especially when your vehicle is totaled, can be incredibly stressful. Dealing with insurance adjusters, understanding complex policies, and negotiating for a fair settlement can feel like a full-time job. This is where an experienced Auto Accident lawyer Chicago can make a significant difference.

At Crell Law, we provide legal guidance for clients throughout Indiana. Our Northeast Indiana attorneys prioritize efficiency and clarity as we take a detailed approach to your1 case. We can assist you by:

• Interpreting Policy Language: Insurance policies are often dense and full of legal jargon. We can help you understand your coverage and what you're entitled to.

• Negotiating with Insurance Companies: We have experience dealing with insurance adjusters and know how to negotiate for a fair settlement that fully compensates you for your losses, including the actual cash value of your totaled vehicle and any potential diminished value.

• Gathering Evidence: We can help you compile necessary documentation, such as repair estimates, market valuations, and accident reports, to strengthen your claim.

• Protecting Your Rights: We ensure that your rights are protected throughout the entire process and that you're not taken advantage of by the insurance company.

• Addressing Other Damages: Beyond vehicle damage, we can also help you pursue compensation for medical expenses, lost wages, pain and suffering, and other damages you may have incurred due to the accident.2

Take Your First Step Forward

Life gets better from here. If your car has been totaled in an accident, don't face the insurance companies alone. Take the first step forward by requesting a FREE consultation with our experienced attorneys at Crell Law. We are located at 2712 Lower Huntington Rd., Fort Wayne, IN 46809. Call us today at 260-747-5353 to schedule a confidential consultation and let us help you navigate this challenging time. We’re what the opposition wishes they had hired.