My Car Is Totaled, Now What?

Auto Insurance TexasThe Steps For Handling A Car Accident Claim

Being involved in an accident is never pleasant, but if your car ends up being totaled it can be a complete disaster. We understand how overwhelming of an experience this can be, which is why we have gathered these helpful guiding points for handling a totaled car:

  • First things first, you will need to have your damaged vehicle inspected to determine whether or not it is totaled. Sometimes the answer is obvious, but other times it can be a little more difficult to determine.
  • If repair estimates exceed the market value of your car, it is classified as a total loss.
  • To calculate the value of your car which is known as its actual cash value, your insurer will use its age, mileage, condition, and resale value to compare it to other similar vehicles’ selling prices.
  • What if I still have an outstanding balance on my loan? If you are financing your car, your insurer will write your claim check payable to you and your lender so that the two of you can determine a fair way to split the money. However, chances are your lender will be reimbursed first.

Contact VGW Walker Insurance for all of your Texas auto insurance needs.