A total loss could result from just about any collision. Even if you were going very slowly, you might collide with something that was traveling at a high rate of speed.
Why might an insurer decide that a damaged vehicle has been totaled?
An expensive part needs to be replaced, in order to fix the damage. The cost of repairs is greater than the vehicle’s value. Driver had chosen to continue using a vehicle with a known defect.
Owners of a totaled automobile face a choice.
Take the money that has been offered by the insurance company. The company uses a formula to determine the vehicle’s price value. The owner receives the price value, minus the deductible. Have the damage repaired, but not file a claim. In that case, the owner would have to pay for the repairs.
File claim and keep the damaged set-of-wheels. Owner receives the amount of money that the insurer has deemed appropriate. Owner then arranges to have vehicle rebuilt, and receives certificate that informs any future buyer about vehicle’s history.
File a claim with the help of a Personal Injury Lawyer in Waterdown and accept whatever compensation the insurance company has determined to be fair. Car owners that have put expensive accessories on or in their automobile should take pictures of those expensive enhancements. That way, the insurance company could see proof of the car’s actual value, and it might agree to give the owner a larger compensation.
Does the owner have the right to ask for more money, even if there are no pictures of accessories?
Yes, any owner could make such request. Still, few do, because the insurance company seldom agrees to such a request. View the vehicle’s condition as a reason to use it as a tax deduction. Arrange for a charity to pick it up. The charity could get funds by selling the different parts and accessories. The former owner could deduct the vehicle’s price from the amount of money owed to IRS.
Suppose the owner had been making monthly payments to a dealership or other car-selling agency?
In that case, an owner that had filed a claim might have to take the money offered from the insurance company, and then keep making payments. That would leave the owner without any form of transportation. Alternately, the owner might be able to pay-off the balance and then arrange to have the car fixed for an amount that was below the expected cost.
Any owners that were to select that approach should probably abandon any ideas about selling the repaired automobile. Although there might be someone in the future who wanted a very cheap car, and did not care how long it might be able to function as a means of transport.