What is a Total Loss?
In insurance, a total loss is a judgment, by the insurer, that the lost value or repair cost of a damaged property exceeds the value of its policy, resulting in what it concludes is a "total loss". In some cases, repairing an extensively damaged vehicle is simply not practical, even though the repair costs would not likely exceed the actual cash value. Insurers may decide to “total” a vehicle in this situation and they do that by paying the vehicle’s market value before the accident.
Hire Your Own Total Loss Appraiser
Allen’s Automotive Appraisal offers Total Loss Valuations for those dealing with the problems of a totaled vehicle following an accident. Do not settle for what you are being offered from the insurance company. They are not on your side and chances are you are being offered way less than what you are owed.
As is almost always the case, an insurance carrier will make every attempt to reduce the value of a policyholder's claim. For this reason, a low appraisal value may be provided following a total loss. The difference between an insurer's appraisal amount and that determined by an independent appraiser can sometimes be substantial. This is why it is beneficial to receive a second opinion.
