A total loss car accident could range from bumping a deer to a disastrous collision. It depends a lot on the market value of your vehicle.
Irrespective of the cause, total loss accidents are often more complicated and entail more than just getting your car repaired.
If you want to handle a total loss claim, you will have to go through more steps.
If you know exactly what you need to do after your vehicle is deemed a full loss, it will help expedite your claims process, allowing you to get your hands on that insurance money much faster.
Firstly, report your claim to the insurance provider as early as you can. A complete loss car claim is a claim you will have to handle quickly; sitting on it will only make matters worse. Keep in mind that full loss insurance claims often take more than one month to close or finalize.
Although your car insurance company will play a major role in processing the claim, your part is important as well in determining how smoothly the claim is handled. The earlier you file your full loss claim, the earlier your insurance provider could begin working on the claim.
In case you are certain that your car will be deemed a total loss, it is important to have the car quickly towed to the preferred body shop of your insurance company. A majority of auto insurance providers have only a few designated shops they prefer to work with.
As a result, using a preferred body shop can speed up your claims process. And in case you do not prefer the designated body shop of your insurance company, do not make a big deal of it as your car is probably totaled anyways.
It is likely that the shop will not do any repair work on the car. Moreover, your company’s preferred shop will often hold your car without any charge.
Titles often go missing in situations where you need them the most. This is why it is important to ensure that you can locate your title as quickly as possible. In case you cannot find your title, go to the DMV and file for a lost title right away. This is because if your car is deemed a full loss, you will need to sign over the vehicle’s title to your insurance company.
If you took out a loan on your car, check the amount you owe. Knowing the amount you still owe on the car will prepare you if your car loan is more than the market value of your car. Hopefully, in case the amount you owe is more than your car’s value you have lease/loan payoff or gap insurance on the vehicle insurance policy. Keep in mind that a full loss claim is not settled based on the amount you owe; rather, it depends on the cash value of your car at the time of loss.
Taking these steps will help ensure your claim is processed swiftly without any hassle.
