When your vehicle is damaged in a car accident, your insurance provider will do one of two things: either they will pay for the repairs to your car, or it will be categorized as “totaled,” meaning that it is considered a complete loss and you will be paid the actual cash value of the car.
If your car is determined to be totaled by the insurance company then in all likelihood you will not be repaid the price you originally paid for the car, but rather the cost to replace the car with a similar vehicle, minus depreciation and wear and tear.
Vehicles are considered totaled when the costs of repair exceeds a certain percentage of a vehicle’s worth. That percentage differs from company to company.
You may not be able to dispute whether or not your car is totaled when you’re negotiating insurance settlements for your accident injury lawsuit, but if you really want to keep it, you may be able to. You can notify your claims adjuster and you can take the cash payment, minus your deductibles and what the insurer would have gotten from the salvage yard. You will then be responsible for your own repairs.
Contacting a Texas Car Accident Claim Lawyer
When you need help with your accident injury lawsuit, educate yourself about what you can expect from car accident insurance claims. Order this free guide for Texas accident victims and learn:
- What to ask a lawyer about negotiating insurance settlements.
- The most common reasons a Texas personal injury claim will fail.
- What you can do to protect your injury claim.