Vehicle flooded or damaged during Hurricane Dorian and declared a Total Loss?
Has your vehicle, of that of a friend or family, been damaged in an accident recently? Has your insurance company declared it a Total Loss, or has it been repaired, now with Diminished Value?
Has your vehicle been damaged in an accident? Total Loss, or repaired now with Diminished Value?
Before you accept a check from the insurance company for your wrecked or totaled vehicle, doing this one thing could mean getting thousands more dollars for your car.
Find out what your car was worth prior to the accident. If you have been in an accident and it has been determined that your car is a total loss, your insurance company will need to pay to replace your car.
Q: Can I keep my car if the insurance company totals it? A: Yes. After it's been declared a total loss, you have the option to keep the car. The insurance company will subtract the salvage value from the car's market value. The salvage value is the amount a salvage yard will pay for the damaged car. If you keep the car, it will have a salvage title. If it is successfully repaired or rebuilt, you can apply to transfer the salvage title to a rebuilt title. Caution! A vehicle with a rebuilt title can be difficult and/or expensive to insure. Do your homework!