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Bucks County Divorce Attorneys > Blog > Personal Injury > Determining The Value Of A Totaled Car

Determining The Value Of A Totaled Car


In general, a car is deemed to be totaled when the cost of repairing the vehicle is larger than the value of the vehicle. This often happens when a car is involved in a car accident. How this number is determined varies from state to state. In Pennsylvania, a crashed car is totaled, or considered a total loss, when the expense of repairs exceeds the value of the vehicle after the incident.

Financing and a Totaled Vehicle

After a car crash, your first priority to be sure everyone is safe. Get prompt medical attention and be sure all documentation has taken place, from police reports to photographs. Seeing a doctor is important, even if you believe your injuries are minor.

Then, connect with an experienced Bucks County car accident lawyer. After all, you will need to have the condition of your car assessed and then there is the possibility of negotiating with an insurance company regarding a settlement.

When a car insurance company is making a determination if a car is a total loss, in other words if it is totaled, they are not thinking about your personal situation. This means they are not thinking about your personal attachment to the vehicle or if you still have a car loan. Instead, they are focused on the financials.

In the event a financed car is totaled, your lender will typically be reimbursed before you are. Then, if there are funds remaining, they will be disbursed to you. But if the value of the car is less than what you owe, you will be responsible for the difference. So, for instance, if you owe $20,000 and are in a car accident where the vehicle is totaled and the value of the car is determined to be $19,000, you will owe the lender a thousand dollars.

Deployed Airbags and Total Loss

There are times when a car is totaled because the airbags deployed, but it is not always the case. The reason why deployed airbags could lead to a car being totaled is that airbag deployment does a lot of damage to the front end of a vehicle. This amount of damage could be costly to repair, resulting in a car being totaled.

Airbag components can be expensive, combine these components with the cost of installation and the price is simply too high for a car with a low cash value. That said, if a car has a high cash value, replacing the airbag components may be the option an insurance company chooses. Deeming a car a total loss is done by assessing the numbers, actual cash value vs. repairs.

Do you find yourself arguing with your insurance company about the value of your car after a collision? Contact a member of the legal team at Kardos, Rickles & Hand. Our Bucks County personal injury attorneys know how to secure the maximum settlement amount possible. Accidents happen every day. When they happen to you, it is essential you have a lawyer fighting for your rights. Reach out today, call 215-968-6602.

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