Personal Injury

What Does it Mean to Total Your Car?

Benjamin U. Bowden
January 16, 2024

Having your car totaled or declared a total loss occurs when the cost of repairing the damage after an accident exceeds the ACV (actual cash value) of your vehicle. When your insurer company deems the car totaled, they should pay you for its replacement value.

Factors That Determine if a Car is Totaled

To determine if a car should be totaled, insurance companies assess if its damage exceeds a certain percentage of its actual cash value. The insurer will declare the vehicle a total loss if the repair cost exceeds 70-90%.

Some of the factors insurance companies consider when assessing the ACV and repair cost include:

  • Make, year, model, and trim level of the vehicle
  • Overall condition and mileage
  • Cost of labor and parts
  • The roadworthiness and safety of the vehicle after the accident

What Happens After Your Car is Totaled?

Once your car is deemed totaled, you will file a claim with your car insurance provider. Your insurance company will compare your car with recent sales of similar vehicles in your local market and provide you with a settlement offer. This offer is intended to compensate you for the value of your car at the time of the accident. You can accept or counter it.

It is essential to carefully review this offer and ensure it adequately reflects the actual value of your car. If you believe the offer is low, you can negotiate with your insurance company or seek legal assistance.

How Can Ben Bowden Help?

Ben Bowden is a Mississippi car accident lawyer helping individuals who have totaled their cars in accidents. He understands the dynamics of insurance claims and can guide you through negotiating for a fair settlement.

Ben will work to make sure you receive the compensation you deserve, including any applicable damages such as medical expenses, lost wages, and pain and suffering.

Contact a Mississippi Car Accident Lawyer Today For Help

Totaling your car means that the repair cost exceeds the vehicle's value. Age, condition, repair costs, and actual cash value of the vehicle are considered when determining if a car is totaled. After your car is totaled, the insurance adjusters will provide a settlement offer, but it is essential to review it carefully and seek legal assistance if necessary.

If you have totaled your car in a Mississippi car accident, it's important to seek legal representation as soon as possible. Ben Bowden is here to assist you every step of the way. By contacting our office, you can ensure your rights are protected and increase your chances of receiving a fair settlement for your totaled car.