You can negotiate with the insurance company if your car is deemed a total loss. You may negotiate if you feel the insurer valued your vehicle too low or have issues with other payments the insurer is (or isn’t) providing.
You may hire a personal injury lawyer to negotiate on your behalf. Personal injury lawyers have extensive experience valuing totaled vehicles and fighting for clients.
What to Consider When Valuing a Totaled Vehicle
Before reading further, know that our firm can answer any questions you have. If you want to proceed with representation or get answers, contact us today.
When an insurance company presents a settlement offer, it will include the value of your totaled vehicle. You can use sites like Kelley Blue Book to determine if this valuation is accurate or fair. These sites will develop a vehicle value based on the following:
- The car’s make and model
- The car’s year of production
- The car’s mileage
- Any upgrades you made to the car
- Any prior accidents the car was involved in
- Any physical flaws the car had before the accident
- The current market value for similar vehicles
In addition to online resources, you may speak with one or more mechanics about your vehicle’s value. After reviewing available information, you can develop a clear understanding of what your vehicle was worth before it was totaled.
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What to Expect from Insurance Companies
The insurance company responsible for the cost of your totaled vehicle might use similar methods to value your totaled vehicle. However, insurers may use their in-house calculation methods before reaching a different calculation of your vehicle’s value.
Once the insurance company assesses the value of your totaled vehicle, it may:
Tender a Settlement Offer
The insurance representative managing your claim may provide a written and verbal settlement offer for your vehicle. This settlement offer may also include compensation for other accident-related losses.
Explain How It Reached the Settlement Offer
The insurance adjuster may explain how the company determined the value of your accident-related losses. For example, they may note the prevailing market price for comparable vehicles and compare its offer to the market price.
Await Your Response
Once the insurance company extends its offer, it will be your move. You should never accept a settlement offer unless you’re certain it is fair.
Consider Hiring a Lawyer to Review Offers and Negotiate on Your Behalf
Many traffic accident victims hire a car accident lawyer to review settlement offers and negotiate with liable insurers. You may hire a lawyer because:
- You are uncomfortable with valuing vehicle damage and other losses: Even with available resources, not everyone is comfortable calculating the value of a totaled vehicle. An attorney from our team can lead this process for you.
- You are not comfortable negotiating with insurers: Dealing with insurers can be intimidating, especially when you’re seeking compensation for a totaled vehicle (which may be substantial compensation). Lawyers regularly negotiate with insurance companies, and we are eager to lead negotiations on your behalf.
- You trust an attorney’s experience and resources: Law firms’ negotiating experience, personnel, and financial resources may be substantial assets in your favor. Many car accident victims who hire a lawyer appreciate these benefits.
- You lack the time, energy, or health necessary to deal with your claim: If you’re recovering from injuries, managing mental health issues, have limited time, or lack the energy you need to complete a claim, you can hire an attorney.
Our firm requires no upfront compensation, and we accept the financial risk associated with your case. Our attorneys will receive a fee only if we get compensation for you.
Your Vehicle Is Not the Only Accident-Related Loss to Consider (or Value)
In addition to replacing a totaled vehicle, you may also need compensation for other accident-related losses. An insurance company or other parties responsible for your accident may pay for these losses, which may include:
- Medical expenses: Car accident victims may face significant medical bills for ambulance transport, emergency care, hospital stays, medications, surgery, rehabilitation, and other medical services.
- Pain and suffering: You may have emotional anguish, psychological distress, immediate and long-term pain, anxiety, and other pain and suffering from your accident. You may also need medication, counseling, or other treatment to address your pain and suffering.
- Work-related losses: Professional damages may include lost income, diminished earning capacity, lost bonuses, promotions, retirement contribution matching, and lost fulfillment from your job.
The National Security Council (NSC) explains that economic costs alone from motor vehicle accidents can reach six figures or more, depending on the injuries.
Our team will create a detailed account of your accident-related damages. The damages and the total cost of your settlement will inform how we seek compensation for you.
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When Should I Hire a Lawyer to Seek Compensation for My Totaled Vehicle (and Other Damages)
You should not wait to hire an attorney after your car accident because:
- We may face a filing deadline for any lawsuit you pursue; missing the deadline could prevent you from filing.
- You may be facing pressure from insurance companies to accept a settlement, and our firm will shield you from that pressure.
- Critical evidence in your case may not be available for much longer, and our lawyers will urgently gather that evidence.
The sooner you hire our firm to manage your case, the sooner you can prioritize your health and recovery. You may progress more quickly toward full health by avoiding the stress of a claim or lawsuit.
Call Loncar Lyon Jenkins Today for Your Free Consultation
We will negotiate with your insurance company for a car deemed a total loss. Our firm will demand every dollar you deserve for the loss, and we’ll consider all other damages resulting from your car accident.
Call Loncar Lyon Jenkins today for a free consultation.