If you’re ever in a bad auto accident, the No. 1 priority should always be the health and safety of yourself and anyone else involved. But after that’s taken care of, then you can focus on your vehicle and assess how much damage it incurred. A part of this assessment will also determine whether your vehicle is considered “totaled” or not.
What does it mean if a vehicle is totaled? Simply put, a car is considered “totaled” when it costs more to repair the vehicle than it would to replace it. In this post, we’ll discuss some of the common signs of a totaled vehicle, the role that insurance plays, what to do if your vehicle is not considered totaled, and more. Read on to learn more:
Common Signs of a Totaled Vehicle
As we noted above, a totaled vehicle is a situation when it would cost more to repair it than it would to replace it. How to tell if car is totaled? Here’s a look at some of the common signs after an accident:
- If the vehicle won’t start.
- If a significant portion of the vehicle’s body is bent or damaged.
- If fluids are leaking from the vehicle.
- If there’s significant frame damage.
- It’s a high-mileage vehicle.
Additionally, your vehicle may be considered “totaled” if it’s older in age and would cost more to source the parts to properly fix it.
Understanding Totaled Cars and Insurance Claims
Essentially, it’s up to the insurance company to determine whether or not your vehicle is totaled after an accident. A claims adjuster will weigh your vehicle’s actual value based on its make, model, year, mileage, and special features. The adjuster will then assess the salvage value following an accident, or any vehicle features that have resale value, as well as the cost of repair. The vehicle will be considered totaled under these conditions:
- The salvage value is less than the vehicle’s actual cash value or
- The cost of repair is higher than the vehicle’s actual cash value.
If your insurance company considers your vehicle totaled, you’ll be paid a cash settlement based on the actual cash value of the vehicle.
What to do if your Car is not Totaled?
In a bad accident and it’s determined that the vehicle is not totaled? You’ll simply see repairs carried out by a repair shop and be responsible for any deductibles according to your plan. Reference your plan for deductible amounts and other information to more accurately assess repair costs.
Wrecktify Collision Can Help
Being involved in a serious auto accident is stressful enough – and if the unthinkable occurs, what’s most important is the health and safety of you and any others involved. After that, you can start thinking about the condition of the vehicle, and Wrecktify Collision can help. With the ability to service all makes and models, we’ll also work with your insurance company to help determine whether a vehicle is worth it to repair or if it’s totaled. Contact us today for more information.