Insurance companies can be difficult to deal with after you have been involved in a car accident.
One of the largest issues that occur is when the insurance is not paying enough for the totaled car.
Most people are very surprised, and most often very angry, when they are given the estimate by the car insurance company for how much they are willing to pay for your totaled vehicle.
What Can You Do When You Disagree With Insurance Total Loss Offer?
The first thing that you must do when you are trying to figure out how to get more for your total loss vehicle settlement is to determine what type of coverage you have on the vehicle.
If you have replacement coverage, the insurance company must provide you with a settlement amount that is equal to the cost it would take to replace your vehicle today. They will use the current value of a vehicle that is the same make and model and in the same physical condition and mileage amount of your vehicle prior to the accident.
If your insurance pays fair market value, which is the most common type of coverage, they will get an estimated value of your vehicle from a reliable source like Blue Book and base their compensation on this total.
It is also important to understand that an insurance company may claim a car as totaled if they feel the repairs would cost more than the value of the vehicle. If this is the case, you may decide to take any settlement and repair your vehicle yourself. However, it should be noted that this will change the title status of your vehicle to a salvage title, and you may have a difficult time insuring it with this type of title in the future.
This may be very shocking for anyone who is currently making payments on their vehicle that the value of the car is not as high as the amount owed. It is very rare for the insurance company to pay the total amount owed on a vehicle unless the value is higher than the amount owed.
How to Negotiate with Car Insurance Adjusters About Car Total Loss
If you want to know how to dispute a total loss vehicle amount, you have to start with information. Insurance adjusters are all about facts, figures, statistics, and the bottom line. If you believe that you can show the adjuster that they have made a mistake in their calculations, then you may be able to convince them to change the amount that they have offered.
For instance, if you have invested in upgrading your vehicle to be disability-friendly, or if you have recently invested in electronic upgrades or enhancements, you need to be able to show the costs and values of these upgrades and how they would increase the overall value of the vehicle.
This is really the only way to negotiate with insurance adjuster auto total loss. Other than being able to show that the car was more valuable than a standard car similar to yours, the adjuster will not be very willing to negotiate the terms of the settlement.
How To Fight Insurance Company For Totaled Car Settlement
The best way to enter into a total loss settlement negotiation is with a car accident attorney managing your claim. Your attorney can make sure that the insurance company is covering the correct amount for your total loss. Your attorney can also determine if the other party may be held responsible for any part of your losses so that you can cover the total loss of your vehicle.
When you have an attorney managing your car accident claim, they can also manage your car loss claim. While this is separate from your injury claims, your attorney will be willing to manage this claim as well since they are already working with the insurance companies on your other claim.
If you or a loved one was in a Florida car accident, contact the attorneys at Landau Law for a free and confidential consultation today.