How Do You Negotiate A Total Loss Insurance Claim?
When your car has been totaled, you need to agree with your insurance company on what your old totaled car is worth. Even though you might have good coverage, you probably won’t be driving a brand new car soon. Here are the steps you should take to negotiate a total loss insurance claim. Know the definition of total loss. Total loss means that your car can’t be repaired or that it’s worth less than the cost of repairs. Be aware that your idea of fair value and your insurer’s idea may differ drastically. Remember that you have the right to a fair settlement and the right to negotiate to get one. A fair settlement is receiving the amount you’ll need to by a like car, or a car of the same or similar model and the same year and condition as your old one. Demand a written notice of what you have to do to reopen your claim if you can’t find a like car with the settlement amount within 35 days of that settlement. This also holds true if you find a replacement car, but it costs more than what
