No matter how good a driver you are, or how careful you are to avoid a collision, sometimes you are on the road in the wrong place at the wrong time, and another driver does the unexpected. It’s bad enough if you get a bent fender or crumpled bumper, but when your car is totaled, it can be a catastrophe.
Most of us rely on our vehicles to get to work, take care of our families and get things done. Being without a car can end up costing you money and throwing your life into turmoil. And if you really love your car, a total wreck can be devastating.
So what happens now?
Assessing Your Total Losses
As soon as possible after your collision, file an insurance claim with the other driver’s insurance company. Be sure to have detailed documentation ready, including photos of the wreck, names and phone numbers of witnesses, police reports and medical bills and records.
Since your car is totaled, meaning damages are about 70 percent or more of the total value of the vehicle, you will also need documentation of the car’s value, invoices for upgrades like a new sound system, new tires or other modifications, and any other evidence that insurance adjusters can use to determine the total value of the vehicle prior to the accident.
Dealing With the Details
Sadly, insurance companies don’t always offer you a fair settlement. It is their job to minimize their own losses, and you may need to hire an experienced personal injury attorney to help you win your case. If you were injured in addition to wrecking your car, you should definitely get legal help.
If you have a car loan, the insurer’s estimated value may be less than the amount you still owe, putting you in a situation where you are still paying for your damaged vehicle after it is gone, even though you were not at fault. In this case, you may need an attorney to help you appeal for a higher estimate.
Accepting a Settlement Offer
The at-fault driver’s insurance company is required to compensate you for the pre-accident value of your totaled vehicle. However, the estimated value may not be enough to purchase a replacement vehicle. When you accept a settlement from the insurance company, you agree to let them assume possession of your totaled vehicle.
Vehicle compensation does not cover time lost from work, medical bills, rental car expenses and other costly expenses associated with the inconvenience of doing without a car. A personal injury attorney can help you get fully compensated for loss of income and other expenses incurred as a result of the accident. Before you accept an insurer’s offer, speak to your attorney.
Taking Care of Your Expenses
It is hard enough to do without your car, never mind trying to meet your monthly financial obligations while dealing with unexpected expenses. If your car was totaled and you have a settlement case pending, Cronus can help. We can forward you the money you need today, and you can repay us when your case settles. Contact Cronus today, and let us help you get through your difficult situation with a personal injury loan.