If you’re filing a damage claim with an insurer after an accident, what if they tell you that your vehicle is a total loss or you disagree with their valuation of it? These are just some of the questions that personal injury lawyers in Dublin, answer for their clients.
Which Insurance Company pays for the Damage to Your Vehicle?
This typically depends on whether you live in a no fault or a non-no fault state as well as the type of coverage that pays for the damage or the total loss. Here is a breakdown of no-fault liability coverage and standard collision coverage:
• No-fault liability coverage – no matter who is at fault, the insurance company will reimburse you for certain damages. However, you’re free to file suit against the person that hit you in a no-fault state as well. Otherwise, personal injury cases are based on negligence in traditional fault states.
• Supplemental collision coverage – this will cover any and all damage that occurs to your motor vehicle in a collision. Since collision coverage pays for damage to a vehicle regardless of who is at fault, it is often expensive. You can also file a claim against your own coverage if you’re at fault.
The bottom line is that the insurer of the other party will only pay for the damage to your vehicle if the collision happened in a non-no fault state. So, how much will an Insurance Company pay? They will only pay for those damages that do not exceed the limits of someone’s policy. That is why you need a lawyer to negotiate on your behalf so that they do not lowball you for the damages.
What if My Vehicle is totaled by the Insurance Company?
If they determine that your vehicle is a total loss, they will only pair its fair market value according to the day that the accident occurred. Unfortunately, that is all an insurer is required – by law – to pay, even if you still owe more than what the vehicle is worth. In addition to this, the insurer has the absolute right to take any vehicle that’s been totaled and recoup some of their losses by selling it in a secondary market.
What if I don’t agree with the Insurance Company’s Decision?
The only options you’ll have are to accept their decision, negotiate further with them, or take them to court. Regardless of what you decide to do, you’ll still need to provide them with a basis for your disagreement. This will require providing hard evidence that the vehicle was worth more than what they told you it was worth.