There’s nothing worse than completely wrecking — or “totaling” — your vehicle beyond repair. However, you can take solace in the fact that you may be able to recover not only the cost of replacing your vehicle but also further compensation for your medical injuries and other damages you have suffered.
Helping you secure compensation is where your Atlanta car total loss lawyer comes in. Amid the confusion and paperwork, they can become your beacon of clarity and support. It’s their role to help you tackle the next phase of this journey, and they can tap into their knowledge and experience to help cut through the complicated aspects of securing proper compensation.
With their help, you’ll be able to make informed decisions more confidently while maximizing your case’s chances of success.
So, if you’ve been involved in a grueling accident that resulted in your vehicle being determined a total loss, reach out to our team today. At the CEO Lawyer Personal Injury Law Firm, our team can help you rebuild and recover after your accident while fighting for any compensation you may be owed.
Schedule your free, confidential case evaluation with no obligation today when you call (404) 777-8800 or contact us online.
Why Work With an Atlanta Car Accident Total Loss Attorney?
When it comes to total car loss cases, having an experienced legal advocate by your side can make all the difference in the likely outcome of your case. An Atlanta car accident total loss lawyer can make your journey through the claims process smoother and more effective.
Keep in mind that an experienced Atlanta personal injury lawyer doesn’t just guide you through the maze of legal procedures; they aim to simultaneously strengthen your case at every turn. Our team will meticulously review your documentation, gather evidence, assess the true value of your claim, and craft compelling arguments that have a high chance of resonating with insurance companies and — if needed — the courts.
What Is ‘Total Car Loss?’
Total car loss, often referred to as “totaling” a vehicle, occurs when the cost of repairing a damaged car exceeds a certain percentage of its pre-accident value. In such cases, insurance companies determine that it is more economically viable to declare the vehicle a total loss rather than proceed with repairs.
But of course, the term “totaled” doesn’t just refer to the visual state of your car after an accident. It encompasses a complex evaluation that considers both financial and safety factors.
How Is a Total Car Loss Calculated?
Traditionally, insurance companies will rely on specific thresholds to determine whether your car is beyond reasonable repair. These thresholds usually involve the percentage of the vehicle’s pre-accident value that would be required to restore it.
To calculate whether your car is beyond this threshold, insurance adjusters will assess the extent of the damage, plus projected repair costs, and your vehicle’s current market value. Once they see these numbers side-by-side, they can determine your car is a ‘total loss’ if the repair costs outweigh its current value.
Unfortunately, adjusters may also determine your car a total loss if the repair costs simply supersede a percentage of your car’s pre-accident value. This is why your car’s condition before the accident and its current market value hold significant weight in this determination.
What Is Fair Market Value?
At the core of every total loss assessment lies the concept of ‘fair market value,’ which represents your vehicle’s value before the accident occurred. Fair market value isn’t derived from a single factor but is instead determined by various elements, including the car’s make, model, age, mileage, and overall condition.
Some insurers may instead use the standard of “replacement cost” for your vehicle. This standard accounts for the total costs of acquiring a new vehicle, which is often more than the estimated sale price value of the vehicle pre-collision.
Calculating Insurance Payouts and Compensation With Help From a Totaled Car Accident Lawyer
When it comes to insurance payouts after a total car loss, you’ll want to make sure you understand every nuance.
There are two primary approaches: Actual Cash Value (ACV) and Replacement Cost. ACV considers the car’s depreciated worth, while Replacement Cost covers the expense of replacing the car with a similar model.
Opting for ACV might result in a lower payout due to depreciation, while Replacement Cost typically provides more coverage but could have higher premiums. As the policyholder, you must weigh these factors based on your individual needs and financial considerations.
However, in any case, you’ll also need to factor in your deductible. This is the amount you’ll need to pay before the applicable insurance kicks in, and the coverage limit will define the maximum amount an insurance company can pay for a claim.
At the end of the day, these two figures will largely determine your accident’s primary expenses.
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Dealing With Insurance Adjusters
After a total car loss, it’s inevitable that you will have to interact with an insurance adjuster.
Insurance adjusters are professionals employed by insurance companies to assess the extent of any damages — and it’s their job to initially determine the compensation for your claim. They play a vital role in the claims process and are supposed to ensure fair settlements for policyholders.
However, insurance adjusters may employ various tactics to settle claims for as little as possible. It’s important to remain aware of these tactics, as every step in the negotiation process can significantly impact the outcome of your claim.
Legal Rights and Protections for Atlanta Residents
On the bright side, as a resident of Atlanta, you are entitled to several legal rights and protections that can help you advocate for yourself when dealing with insurance adjusters. Below, we will outline several of these laws and local regulations so you can use them to your advantage to ensure you’re treated fairly throughout the claims process.
- Prompt and Fair Investigation: Insurance companies are required to conduct a thorough and prompt investigation of your claim. They should not unduly delay the process or unfairly deny your claim without proper assessment.
- Good Faith Obligation: Insurance companies — and adjusters — have a legal duty to act in good faith, so they legally cannot engage in deceptive practices or unfairly minimize the value of your claim.
- Disclosure of Coverage and Limits: Insurance adjusters are obligated to inform you of the coverage and policy limits that apply to your claim so you can understand the scope of your compensation.
- Reasonable Settlement Offers: Adjusters must make reasonable settlement offers based on the information available. They cannot unreasonably delay, deny, or underpay a valid claim.
- Freedom From Harassment: Insurance adjusters must communicate with you professionally and respectfully. Harassing or pressuring you to accept a settlement is prohibited.
- Access to Documentation: You have the right to access documentation related to your claim, including the estimates for repairs and any other relevant information.
- Independent Appraisal: Perhaps most importantly, if you disagree with the adjuster’s valuation of your totaled car, you have the right to seek an independent appraisal to determine its fair market value.
- Appeal Process: If your claim is denied or you disagree with the settlement offer, you have the right to appeal the decision. From there, your insurance company must provide you with information on the appeals process.
- Unfair Trade Practices: Atlanta law prohibits unfair trade practices, such as misrepresenting policy terms, engaging in deceptive practices, or using false information to deny a claim.
- Protection Against Retaliation: Insurance companies cannot retaliate against you for exercising your rights or filing a complaint against an adjuster’s unfair practices.
All of these protections are outlined across several major state laws, legal codes, and consumer protection statutes. These include the Georgia Insurance Code, Georgia Consumer Protection Laws, Atlanta City Ordinances, and Georgia Unfair Trade Practices Act. Of course, it’s not up to you to already have these legal codes and resources memorized — it’s the job of your attorney. This is why it’s so important to tap the help of an attorney to ensure your rights are protected every step of the way.
How Can An Atlanta Car Total Loss Law Firm Help Me Evaluate My Total Loss Claim?
After your Atlanta car accident, our team will help you gather (and organize) all of your essential documentation. This will include your accident report, medical records, and repair estimates, as well as any witness testimonies, photographs, or other files.
If needed, we can also collaborate with our own network of independent appraisers or mechanics to help you secure an unbiased assessment of your vehicle’s original value and repair costs. From there, our team will also be able to tap into our local expertise to identify and wield the key laws and regulations that will help you hold another party responsible for any damages their negligence may have caused.
So, if you’ve been involved in an accident that resulted in your vehicle being labeled a total loss, don’t hesitate to reach out to our team today. We know the emotional shock and burden that these kinds of accidents can cause, and we’ll do everything in our power to ease your burden.
At the CEO Lawyer Personal Injury Law Firm, we’re here to help you recover from this incident, and we want to help you and your family rebuild as quickly as possible. Schedule a free, no-obligation case review with an experienced car total loss attorney today when you call (404) 777-8800 or contact us online.
