Car accidents are often a shocking and traumatic experience for just about anyone. The damage it causes not only to your vehicle but possibly to your person is scary to imagine and think about. Even with all the safety features employed in your ride, there's never a guarantee against an accident. Damage comes in many forms and, for your car, it can truly become a breaking point.
In the time after a car accident, a Clermont car insurance claims adjustor will pay you a visit to assess the damage done to your vehicle and modify your claim accordingly. Before this happens, you might have a few questions on how it's done, how the value is determined, and how do you arrive at your payout amount. Toyota of Clermont is here to clear the air and help you get to the bottom of your car accident questions. Let's check it out!
Explaining Total Loss Car Accident Damage and More
Navigating the time after an accident is riddled with confusion and uncertainty. The best initial steps after an accident, after you ensure everyone involved is safe and medically alright, is to contact the police for a report and your car insurance company to file a claim. Once the claims adjustor arrives, they'll give you an assessment of the damage along with a prognosis that can determine how your claim is going to be fulfilled. One of the most common outcomes of a car accident is your Clermont Toyota car being determined a "total loss."
What Does Total Loss Mean?
A total loss determination from your Clermont auto insurance company means that the cost of the repair work that'd need to be done to restore your car would be more expensive than the car's current cash value. This typically results in a cash payout from your insurance company and your vehicle is seized by your insurance company. How do insurance companies arrive at this conclusion after a Clermont car accident?
Using the NADA: The National Automobile Dealers Association is a resource many insurance claims adjusters use to accurately determine the present value of your vehicle. Factors like current model year, mileage, condition, and more are used to determine the current value.
Kelley Blue Book: Very common for both consumers and adjusters, Kelley Blue Book is another way to determine the value of a vehicle. This is one of the most consumer-accessible systems out there and a great way for you to double-check that you're getting accurately compensated.
While it may seem like a common Clermont car accident outcome, total loss determinations need to meet certain criteria to be used. In Florida, for example, a vehicle's cost of repair after an accident needs to break an 80% threshold to be considered a total loss. This means that the repair cost needs to exceed 80% of the present value of your car for you to receive a payout. If it's determined that the damages sustained don't exceed the threshold, a collision center will be in your future.
After a claims adjustor makes their determination, you have the option to accept or reject their valuation. If you had an ample amount of valuable aftermarket parts installed on your vehicle, providing proof of purchase and/or installation could increase the amount for your payout. You can also negotiate other factors like the speed at which you receive your payout check or the allotted amount of time you get with a rental vehicle if collision repair is ordered for your Clermont car.
Looking for top-quality collision repair after your car accident? Toyota of Clermont is here to help! Visit our Certified Collision Center at 16851 State Road 50 today.
Comments