Is the Total Loss Value on a Car Negotiable?

The total loss value on a car is negotiable. However, it’s important to understand that negotiating compensation for a totaled vehicle can be a complicated process. To make sure the insurance company doesn’t take advantage of you, you’ll want to hire an experienced car accident attorney.

An Atlanta car accident lawyer can determine if the insurer’s proposed payment is large enough to cover your losses. If it isn’t, an attorney can negotiate with the infuser for you, ensuring you get the payment you deserve. Let’s take a closer look at negotiating the total loss value of a car. 

Understand How the Total Loss Value on a Car Is Calculated Before Negotiating

We can’t understate how important it is to understand how the insurance company calculates total loss value on a car before you try to negotiate with them. When determining whether or not your car is totaled, the insurer will compare the value of your car before the accident to the estimated cost of repairs it would take to get the vehicle back on the road.

If the cost of repairs exceeds the vehicle value, the car will be considered totaled. In this scenario, the insurer will provide you with a payment equal to the value of the car before the accident. Negotiating the total loss value of your car can help you get a larger payment from the insurance provider. 

How Insurers Calculate the Value of Your Vehicle

Insurance companies look at many different factors when determining the pre-accident value of your vehicle. Familiarizing yourself with these factors can help you negotiate the total loss value of your car from a stronger position. Here’s what the insurer takes into account when calculating the value of your car:

• Make and model
• Year
• Vehicle upgrades
• Mileage
• Pre-accident condition of the vehicle

Using these pieces of information, insurers will use databases like the National Automobile Dealers Association and Kelly Blue Book to determine the estimated value of your vehicle. It’s in your best interest to do the same, as many insurers will jump through hoops to offer you as little as possible for your totaled car.

How to Get Help Negotiation the Total Loss Value of Your Car

As mentioned above, insurers are always prioritizing their bottom line above the best interests of their policyholders. Therefore, you’ll never want to accept the first settlement offer that comes from the insurer. Instead, you should work with an attorney to determine exactly what you are owed.

A lawyer can help you calculate the cash value of your car and negotiate with the insurance company to reach a fair offer. In addition to working with an attorney, you may want to have a trusted mechanic examine the damage to your vehicle.

A professional can determine how much repairs would cost and give you a better idea of the situation at hand. Ultimately, the more professional help and information you have, the easier it will be to negotiate a fair total loss value for your vehicle.

Other Ways an Attorney Can Help After an Accident

If you’ve been in an auto accident caused by another party’s negligence, negotiating the total loss value of your car might not be your only problem. You could be dealing with serious injuries, medical bills, and other financial losses. The good news is that a skilled lawyer can help with all of those issues.

An attorney can investigate your accident, file a strong insurance claim on your behalf, and obtain a settlement that helps you get back on your feet. Here’s what an attorney can do for you after a serious auto accident:

• Gather important evidence
• Interview witnesses and use their testimony for your claim
• Calculate how much your claim is worth
• Build a strong insurance claim on your behalf
• Negotiate with insurers to reach a fair settlement offer
• Represent you in court
• Comply with filing deadlines and other rules
• Offer legal guidance and advice throughout your case
• Answer any questions you have throughout the process

Compensation You Could Receive From a Car Accident Claim

Getting help with pursuing compensation for your accident is just as important as getting help negotiating the total loss value of a vehicle. With the right legal representation, you could receive any of the following damages from a car accident claim:

• Current medical expense
• Future medical care costs
• Cost of physical therapy and assistive devices
• Pain and suffering
• Lost wages
• Decreased earning ability
• Emotional distress
• Loss of enjoyment of life

These damages can help you support yourself and get back on your feet after a crash. However, obtaining these forms of compensation can be incredibly difficult without the help of a trusted lawyer. An attorney can work tirelessly to obtain these damages, giving you the best chance possible at making a full recovery from the collision. 

Schedule a Free Consultation With a Car Accident Lawyer Today

Now that you know the total loss value on a car is negotiable, it’s time to get the legal representation you need to obtain a fair payment from the insurance company. At John Foy & Associates, our attorneys have decades of experience helping accident victims like yourself get the resources they need to move forward with their lives.

Contact us today to schedule a free consultation with an experienced car accident lawyer to learn more about your legal options after an accident. We’ll meet with you to discuss your accident and explain if the total loss value on your car is negotiable. We look forward to hearing from you soon.