Is My Car Totaled
What should I do if my car is totaled out? If the airbags activated, is my car totaled out? The activation of your airbags will not necessarily total your vehicle. Though, even if an airbag is activated, replacing an entire airbag is expensive, particularly if it has been worn out.
Car totals are categorized as total loss damage. Essentially, this means that it can no longer be driven legally on public roads. Even if it can, it would be wise to get a permit beforehand. A totaled car can not only be worth much less than its actual cash value (most times up to 50 percent less), but also put you at risk for increased insurance premiums as a result of being in a higher risk zone.
Before a car is totaled, insurance companies do a comprehensive investigation to determine what caused the accident and to whom, if anyone. Once they determine who is at-fault, they will assign a specific dollar amount to the claim. This assigned dollar amount is usually lower than the actual worth of the car, due to the severity of the accident and the potential it poses to increase the total loss value. This means that if your car was totaled in an accident, you may be able to get more money than you would with a total loss assessment.
The next step is to figure out how to pay for the damages to your vehicle. In car accidents, there is usually an extensive amount of property damage that needs to be covered. Car accidents, whether they are deemed to be total losses or not, also have an impact on your insurance premiums. Many times, insurance companies will help cover your expenses related to damaged vehicles as long as you agree to pay a deductible and agree to keep the insurance policy active. Other times, the insurance company will only help pay for the actual value of the car. It is important to remember that in many instances, the insurance company will still require you to have the car towed or repaired within a certain amount of time after the accident to help cover the damage.
Is My Car Totaled And What To Do Next
After you have ensured that the car is totaled and that your insurance company will cover the damages, you need to determine how much the accident has damaged your vehicle. Car accidents can cause your car to be damaged significantly, especially if you are traveling at high speeds. If you are traveling at a very fast rate of speed, the sheer force of the impact can easily cause your car to become damaged beyond repair. If you must know, insurance companies base the amount it will pay out on the estimated value of your vehicle. This means that if your car is severely damaged, it will be much less likely that you will receive monetary compensation than it would be had you planned for a safe speed limit.
Finally, you should make sure that the damages to your vehicle are not more than what your insurer will pay out on. Some insurers will not payout on a vehicle being damaged beyond the amount they feel it is worth, while others will. If you find yourself needing to repair or replace parts of your vehicle because it is too damaged, you should ensure that you have sufficient coverage to cover these costs. Having an idea of how much your insurer can actually afford to pay out on a totaled car will make it much easier to determine whether or not you will receive the payout you deserve following a car crash.
Related: Front End Collision