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What to Do in a Total Loss Vehicle Claim

Apr 04, 2019

Uncategorized

What to Do in a Total Loss Vehicle Claim

Here's what you should do after your car's been declared a total loss.

If you've been in an auto accident and your insurer has deemed your car a total loss, then this means that the damages to your car exceed a certain percentage of its actual cash value.  Many drivers who find themselves in this situation are overwhelmed and not sure what to do next.  To ensure that you remain calm and handle the situation appropriately, here's what you should do after your car’s been declared a total loss. Find Your Car Title Your car title is needed to process a total loss claim, so it's important that you know where this document is and ensure that you can actually access it.  If you cannot find your title, then file for a lost title at the DMV as soon as possible so you can finally begin the claims process. Find Out How Much Your Car is Worth Do some research to get a general idea of how much your car is currently worth.  Use resources like Kelly Blue Book to see what they value your make and model at.  You should also look at similar vehicle listings in your area.  This research should give you a good idea of what your insurer will value your car at. Determine How Much You Owe on Your Car If you have a loan out on your vehicle, then check to see how much you still owe.  This will help you prepare in the event that your loan amount is higher than your car's current value.  If your loan exceeds your car's value, then your insurance settlement will go to your lender, and you will be responsible for paying the remaining loan amount on your own. Complete Paperwork Quickly Total loss claims require a lot of paperwork.  For instance, you and your insurer will have to come to a written agreement on the value of your car.  You will also have to sign ownership of the vehicle over to your insurer so they can process your claim and pay the settlement to you or your lender.  Prompt completion of this paperwork will help you put the ordeal behind you as soon as possible. Here's what you should do after your car's been declared a total loss.  Remember, the best way to handle a total loss claim is by having the right auto insurance protection in place.  For assistance with all your car coverage needs, contact the experts at Fuller Insurance Agency in Southern California today.
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