How Do Insurance Companies Decide a Car is Totaled?
Posted in Car Accidents on July 17, 2021
car accidents can cause a distribute of damage to your vehicle. In these situations, you want to have your car repaired angstrom promptly as possible so you can get spinal column on the road. however, some vehicle damage can be so across-the-board that the insurance company will consider it totaled, and you will need to request a substitution alternatively. Dealing with indemnity companies after an accident can be unmanageable, specially if you sustained extensive losses—and if you are dealing with a totaled vehicle, it is important to understand your rights and responsibilities .
mistake Insurance Laws in Washington
Like most states, Washington follows a fault-based system when it comes to cable car accidents. Drivers who commit negligent actions, such as rush or running a bolshevik light, are financially liable for their victims ’ losses if they cause a collision. You can hold the at-fault driver accountable through an policy claim or a personal injury lawsuit. These processes enable you to recover compensatory damages for aesculapian expenses, lost wages, and vehicle repairs or replacements.
Washington ’ s total Loss Formula
When assessing the extent of a vehicle ’ second damage, Washington policy companies use a specific convention to determine if a car is totaled, or damaged beyond redemption. If the sum loss formula determines that a car is totaled, the company will a successor alternatively of sending the vehicle for repairs .
The insurance company will look at three key factors when assessing vehicle price .
- The price to repair the vehicle : First, the indemnity company will look at how much the parts and labor would cost to repair the damaged car. These estimates can vary between repair shops, so it is important to bring your vehicle in for an independent evaluation .
- The salvage value : After determining the repair costs, the party will look at the vehicle ’ south salvage value, or the value of parts that could be reused or resold. When a vehicle is totaled, it will normally be sent to a salvage shop class where useful parts are removed, and the rest of the cable car is scrapped .
- The vehicle ’ s pre-accident value : finally, the indemnity caller will assess the actual cash value of your fomite before the accident occurred. This value is equal to the amount of money you would have received if you sold the car anterior to the barge in.
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once the indemnity ship’s company identifies these three key values, it will plug them into the sum passing formula. If the price of repairs and the salvage value combined are higher than the actual cash value of your vehicle, the company will consider the car to be totaled. In this situation, you could either replace your cable car with another vehicle that is similar in value, or you can receive a cash liquidation based on the value of comparable centrifugal vehicles .
Contact Colburn Law today
Dealing with policy companies can be unmanageable after any accident. If your car sustained serious damage in a collision, however, the indemnity serve can become evening more building complex. In these situations, it is crucial to speak to an lawyer a soon as possible .
Your lawyer can help you determine whether your vehicle is actually damaged beyond compensate and whether the policy caller is offering you a honest village for your losses. He or she will besides handle all aspects of your case on your behalf so you can focus on convalescence. adenine soon as possible after the collision, contact a Seattle car accident lawyer to discuss your optimum path to maximal compensation .
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