Auto insurance will pay for a totaled car in Atlanta if your policy coverage, or that of the other driver, includes this verbiage in its policy. Following a serious auto accident, your insurance company may come out to do an appraisal of your car. According to the Certified Collateral Corporation’s Information Services, about one in every seven car crashes results in a total loss.
If you caused the wreck, your own insurance may cover your loss if you have collision coverage on your auto policy. If the other party caused it, then that party's property damage liability coverage might ultimately cover your loss.
How Insurers Decide if a Car is a Total Loss
Most companies declare cars a total loss if the following is true.
- The car underwent damage beyond safe repair
- The repairs will cost more than the car’s current value
- State regulations require declaring the vehicle a total loss
If the insurance company declares it a total loss, it will calculate the value of your car based upon its market value before the accident. That means you shouldn’t expect to be reimbursed for the retail value of your car.
When you receive the value estimate of your car, it’s a good idea to do some research of your own to see at what price other industry groups value your vehicle. The Kelley Blue Book is one of the most well-known and trusted pricing guides for used cars and you can easily research its listings for free on its website.
Were you in a wreck in Atlanta? Call Jason R. Schultz
If you believe the auto insurance company is quoting you a market value that is unfair, you may need to bring your case to the Georgia State Department of Insurance. For help with injury claims, the Law Office of Jason R. Schultz, P.C. is here to help. Contact our office today to schedule an appointment for a FREE consultation regarding your legal options after a serious car accident: 404-474-0804.