Total Loss Insurance Index
Posted in Auto Insurance
November 6th, 2009
The period following an accident can be confusing and overwhelming for many people. If you’ve been involved in a serious accident, your insurance agent may be discussing total losses with you. Use our guide and take the lessons to understand everything you need to know about the process in order to ensure you’re getting a fair settlement.
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A Guide to Understanding Total Loss Claims
Chapter 1: Understanding Total Loss
What is a total loss vehicle? Learn more about how total losses are determined.
- Understanding total loss
- Considering fair market value
Chapter 2: How Agents Calculate Total Loss
Didn’t think your damage constituted a total loss? Learn how insurance companies calculate it.
- Contacting your agent
- Total loss calculations
Chapter 3: Cost of Repair Vs. Actual Cash Value
Learn more about what the cost of repair and actual cash value have to do with a total loss determination.
- Determining cost of repair
- Determining actual cash value
Chapter 4: Unfair Aftermarket Parts Valuation
Learn what you can do if you didn’t receive anything in your settlement for modified parts.
- Modified parts value
- Documenting parts
- Alternative solutions
Chapter 5: Reimbursement & Settlement Process
Learn more about the reimbursement and settlement process, including how you will be paid.
- Accepting a settlement
- Preventing future loss
Chapter 6: Insuring Against Future Loss
If you never stop modifying your cars, learn more about how you can protect yourself against any future loss.
- Keeping records
- Considering specialty insurance
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[...] 2009If you’ve recently been in a car accident that resulted in your car being declared a total loss vehicle, then you’re clearly in a pretty lousy place. You’re glad you made it through without [...]
[...] in Auto Insurance July 30th, 2009Continue to Chapter 3: Repair and Cash Value In Depth >>>Return to Total Loss IndexTotal Loss: Chapter 2 of 6 Claims agents will send out an adjuster to calculate the cost to repair [...]