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    What Exactly Is Total Loss Car Insurance?

    Your insurance company may decide your damaged car is a total loss if, third-party insurance protects you against claims from another involved party. It protects you against liability when you are involved in an unfortunate situation that causes damages to someone else. The insurance provider pays for the damages caused to the other party. The third-party car insurance quote comes into effect when the accident is the fault of the insured person.

    FACTORS THAT AFFECT TOTAL LOSS CAR INSURANCE PREMIUMS

    Traffic

    Traffic

    Rates may increase if you live in areas with heavy traffic and numerous accidents.

    Weather Conditions

    Weather Conditions

    Places which witness unexpected weather changes such as hurricanes, floods, hail, etc.

    Theft Rates

    Theft Rates

    If you reside at places with regular incidents of vandalism and even vehicle theft, your rates increase

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    When Is A Damaged Car Considered A Total Loss?

    Your vehicle can be declared a total loss if,

    1. It is not safer to repair your car.
    2. The repairing work costs more than the worth of your car.
    3. Insurer is required to declare the car a total loss due to the severity of the damage, as per the law
    4. Total Loss Formula used by a few states: The cost of repairs + the value of the car should be equal to or exceed the pre-accident value of the vehicle.

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      HOW DOES TOTAL LOSS CAR INSURANCE WORK WHEN YOU ARE NOT AT FAULT?

      In many situations, total loss does not result out of primary driver’s fault

      • A tree fell down on your parked vehicle
      • Your car can be totalled due to accident caused by another driver. In this case collision coverage will creep in first.
      • Your insurance company will ask other driver’s insurer to cover the loss, in this situation.
      • In the above-mentioned situation, you can also be reimbursed for the deductible from your insurance payout.
      KNOW THE CAR INSURANCE TOTAL LOSS PROCESS BEFORE AAPPLIYING

      We can help you to evaluate existing condition of your car and also give you an estimate of its worth with the guidance of our experienced and knowledgeable claim adjuster.

      2. If the resale value of the metal as well as parts of car does not exceed its actual cash value, the vehicle is considered totalled. This is known as salvage value.

      When the repairing costs combined with salvage value exceed actual cash value of your car, your vehicle will be considered totalled.

      Wondering If you are eligible for Total Loss Claim Car Insurance?
      • Insurers may replace a vehicle, which is less than three months old, with a new car
      • Also, some insurers provide guaranteed replacement coverage. They may cover a new car.
      • Moreover, your insurer may pay you actual cash value when you do not have guaranteed replacement coverage.
      • Remember, insurers are not required to pay off loan of the insured. Their role is limited only to the worth of your car.
      FAQs on Car insurance total loss Coverage

      Discover If Your Insurer Will Get You A New Car Or Give You The Actual Cash Value

      The actual cash value of car, minus your deductible, is what will be paid. You can then buy a new car after your total loss car insurance settlement is received.
      Yes. Some insurance companies allow the same. But, you need to approach an experienced insurance agent to learn how to go about it. Notable, you may have to pay out-of-pocket costs in this situation.

      1. Find vehicle’s title.
      2. Arrange contact information for a lease or finance company.
      3. Get all your personal belongings out of your vehicle.

      Well, this is determined based on the state where you reside. It is advisable to seek help of an assigned adjuster to make yourself well-versed with the rules for total loss vehicles.

      Understand how values are determined

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