In a highway accident where your vehicle is damaged, you need to immediately call and notify your insurance company. You need to find out how your vehicle can be repaired so it can be useful and functional once more. You want to know details as indicated below.
How can I take my vehicle for repair?
Your vehicle needs to be towed to be taken to the repair shop and the towing and storage costs will be paid by the insurance company of the party who was at fault or who caused the accident.
Can I decide where to have it repaired?
Yes, you can choose where to have your vehicle repaired however it is the insurance company which decides how much is the repair’s reasonable price which might be less than what your chosen repair shop will charge.
In case of total loss, where will my vehicle be taken?
Your vehicle could be taken to a salvage yard if it has been declared a total loss. The insurance company normally will pay the towing services.
When can I claim for “total loss”?
If the insurance company assessed that your vehicle is no longer worth repairing because replacing the damaged parts including labor will cost more than its market value, the insurance company will declare it as a “total loss”. You can claim the market value of your vehicle based on the fair market value of vehicles with similar make and model to the damaged one or based on the Kelley Blue Book.
Can I opt to keep the vehicle that was declared a “total loss”?
If you want to keep the vehicle that is no longer worth repairing and is already declared as “total loss”, you can do so but you may have to pay the insurance company the amount of the vehicle’s salvage value.
Who is liable to pay if my vehicle was financed or acquired through bank loan?
You are still responsible to pay for the bank loan. Therefore, if the outstanding loan at the occurrence of the accident is more than the vehicle’s fair market value, you still need to pay the entire amount of the outstanding loan.
If you have been seriously injured in a motor vehicle accident caused by another person's carelessness and recklessness, you deserve compensation for all of your losses - physical, financial, and emotional.
You will need expert legal assistance with a track record of success in the field of motor vehicle litigation. Call 614-220-9100 to schedule an appointment.