Car accidents are the epitome of stress. One of the worst things about them is that even after the actual car accident is over and done with, you still have a bunch of residual issues to handle. You have to deal with any injuries that you or your passengers may have sustained in the accident, and you also have to confront the damage on your vehicle and figure out where and when you're going to get it fixed.
After a car accident, you typically file a claim with your car insurance company. Remember - if the accident was your fault, you'll file with your insurance. If it was the other driver's fault, you'll file with their insurance. Once the claim has been filed, the insurance company will send out an adjustor to check out the damage in person and decide not only how much it's going to cost to repair your car, but also what general shape your car is in so they can better determine a value.
If your car insurance company declares your Clermont Toyota a total loss, it basically means that the cost of the necessary auto repairs is more than the current cash value of the car. Essentially, it's going to cost more to fix the car than what the car is worth, so it's not worth repairing. It would be smarter to take the money and run (and use it as a down payment on your next Clermont Toyota).
How does an insurance adjustor determine if your car is a total loss after a car accident? They mainly use the following two tools:
NADA: The National Automobile Dealers Association has a set of criteria that's used industry-wide to determine the cash value of a car. They use criteria like make and model, age and mileage of the car, and overall condition (as well as any accidents the car was in prior to this one).
KBB: Kelley Blue Book is another trusted resource in the automotive industry and dealers and insurance adjusters alike use it to determine value. It uses similar criteria to that of the NADA.
They might also have to follow state laws - for example, in the state of Florida, the total cost of repairs has to be more than 80% of the car's cash value for you to get your payout.
Once the insurance adjustor has determined that the car is a total loss, they'll make you a cash offer. You don't have to accept it right away - you can try to negotiate the value as well as how fast you get the payout. If you're unhappy with the amount, let them know. And if you have aftermarket accessories and parts on your car that you think make it worth more than what they've offered, gather up your receipts and show them as proof.
Whether you need help with repairs after a car accident or need some assistance in navigating your total loss, Toyota of Clermont is here to help! Schedule auto repairs with us today. Our Clermont Toyota Collision Center is open and ready to help at 16851 State Road 50, just west of the Florida Turnpike.
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