What is the Auto Total Loss Process? Once you are in one
accident, the insurance company must examine the vehicle and determine whether
The damage was significant enough to account for a total loss.
Most insurance companies will want to check the vehicles
itself. For most accidents, insurance companies have approved body shops
Write estimates and finally issue the payment based on that estimate.
However, if there is one potential for a car total loss, most insurance companies
Businesses want their insurance adjuster to inspect the vehicle.
The reason for this is the resulting conflict of interest
from the agreement between the insurance company and the body shop. body shops
are engaged in the repair of cars. You have a vested interest in citing them
Repairs so the car can be repaired and not declared a total car wreck.
For all practical purposes, that means you will be
wait longer. It usually takes two to three business days for the body to be up and running
create a repair estimate. Did the claims adjuster or field worker
to visit and write your own estimate, then you wait three to five
more days to get to your car’s location.
Before the reviewer comes out, she/he will submit everything
relevant information about your car (year of construction, make, model and mileage) to a third
party company. This company is usually CCC
Information Services Group, Inc. CCC will prepare a preliminary report on this
Determine the value of your car so the appraiser knows what the insurance is
Company would search in case of total loss.
Depending on your state law and specific insurance
Company, there will be a total car wreck if the insurance thinks so
The cost of repairing the car reaches 70%, 80% or even 90% of its total value. it is
It’s always a good idea to ask the adjuster what threshold they use
identify a total loss.
The vehicle is a total loss estimated by the car
Assessor, this person will look at the condition of the vehicle. she
will note how “clean” the vehicle is, what the exact mileage is and what
Equipment and options that the car has. All this information is reflected in
the final evaluation of the vehicle.
The expert then submits the test report again
to CCC. CCC sends a final report with comparison prices for the vehicles
in your local market. They determine the fair market value of the car
is and what a fair comparison offer would be. More information on how to do this
Objection to this visit report:
Next, the expert must determine who the pledgee is
the vehicle is. If you have a car loan, the insurance adjuster must receive it
Information so they can contact the bank to determine how much is owed. there
are various requirements that insurance companies must meet. If the insurance
Company you are dealing with is your own (you are claiming car totals
against your own insurance company), then you are bound by the terms of the
Policy requiring you to pay the bank first 99% of the time. If you are
a total loss against someone else’s insurance company (the person who
meets you), then this requirement does not exist (there is no actual guideline to be
If you have a loan, the insurance adjuster will do this
Request a guarantee statement from the bank. This letter is an agreement between
the bank and the insurance company responsible for the payment of x amount the bank
gives the title of the car directly to the insurance company. This
The process usually takes four to five days.
If the amount you owe for the car is less than what the
Insurance company pays for the car total, then the insurance company
pays off the loan amount and then issues you a second check right away. If the loan
is higher than the car total loss offer, then you are up to scratch
down your loan. You still have to make payments, even though the
Auto ownership is transferred to the insurance company.
Once you have received payment for your loss, you can do so
Go out and get another car. Learn more about the total loss process and how
To keep your interest, visit: