An accident is a very unhappy occurrence which affects one’s physical as well as mental well being. When this is coupled with a considerable damage to the vehicle, it becomes even more trying. Be it anyone’s fault, it is important to get the best claim amount from the insurance company so that it does not burn the pocket of the person involved.
Any auto accident which includes property damage means that the vehicle is wrecked and either requires repair or has to be replaced. There are different types of insurance coverage which cover such damage which has arisen out of the accident. Once the insurance company is made aware of the same, an adjuster will contact you. He or she will measure the damage and decide of the vehicle can be repaired or it has to be ‘totaled’. Since the adjusters are employees of the insurance company, they will try to minimize the amount of money to be paid by them and will try and convince you for a smaller settlement.
When an insurer totals a vehicle, it is valued in the market and an amount is decided upon which is paid to you to buy a replacement vehicle. This amount is arrived at after taking into consideration the price of the same vehicle at present deducting the depreciation, which is dependent on the wear and tear and the number of years it has run. In most cases, a vehicle is totaled if the cost of repairing the same is more than a fixed percentage of its value. This percentage depends on the company and most of them follow a margin of 75% or more. If you do not wish to part with your vehicle, you will have to tell the same to their representative.
If the vehicle can be repaired, this can be done in any repair shop of your choice. However, it is always advisable to use one which is approved by the insurer. The insurance company will pay out whatever it thinks is suitable for such damage. If you need any help in the same or wish to appoint a lawyer to get the best deal, you can contact anyone who deals with property damage in accident claims. Before settling for whatever the insurance company offers, you should explore all possibilities and choose one that pays the maximum.
