If it would cost more to fix your vehicle than what the vehicle is worth, then your vehicle will probably be considered a total loss by the insurance company. The criteria for deciding when a vehicle is a total loss and when it can be repaired vary from insurance company to insurance company and might even be dictated and controlled by state law. In some states, a vehicle may be a total loss if the repair costs would exceed a percentage (e.g. 80%) of the vehicle’s value. When this happens, the insurance company is responsible for paying you the actual cash value (ACV) of your vehicle.
The problem, however, is that often times the insurance company does not offer to pay you what your vehicle is really worth. Unfortunately, most people do not bother to challenge the insurance company’s decision because they do not know what their vehicle is worth or they do not know how to go about getting more money. This is where we come in. At The Collision Law Center, we will fight the insurance company to make sure you are being paid what you are really owed.