Your Car Gets Totaled--What Happens Next?

Once your car gets totaled, there are a few things that you need to square up to make sure you get the correct compensation for your vehicle and find the right replacement.

Is the Value Assessment Fair?

Before you accept any payment for your vehicle, make sure that the value the insurance adjuster chose is fair. They must take into account the cost of a comparable car in your area. If you live in a more expensive area, the value may be higher than the average value on Kelley Blue Book or another estimator. The same goes if there are few car options available within a decent radius of your home. Your lawyer can help you negotiate the fair value as part of their dealings with your insurance carrier when there are disputes. In general, any time you run into resistance from the insurance company, let your lawyer intervene on your behalf and use their expert negotiating skills to advocate for you. 

How Bad Is the Damage?

The damage may be mostly auto body damage, or it could be internal. With mostly cosmetic damage, you might choose to keep driving the vehicle without getting a full set of repairs done. It comes down to having a good auto body estimate in hand to know what really needs to be fixed and what doesn't.

What Is the Salvage Value?

You will also want to know the salvage value of the car. You could ask the insurance carrier. If you choose to keep your vehicle, the salvage value will be deducted from your check.

How Much Time Can You Devote to Finding a Good Car?

Speak with a reputable car dealership locally to see what other options you have for replacing your car. If you can easily find a car that you love, it will make the transition to a new vehicle much easier. The dealership will help you pick out models in your price range that are similar to your current vehicle. If there are few options that strike your interest, you might lean more towards repairing your current vehicle.

Should You Keep Driving It?

So, once you know all of these things, it's time to decide what to do with your vehicle. You could keep driving it and make certain repairs to ensure your safety and simply keep the remaining balance from the insurance company. You could decide to start fresh with a great car from a car dealership. It depends on the time it will take, the money you could save, the safety of your totaled vehicle, and how attached you are to the vehicle. Either option can be reasonable.