Car Totaled In Accident Not At Fault – Being in a car accident can have all kinds of serious consequences, and one of the many challenges is damaging your car. If you drive an older car, you may be surprised to learn that your insurance company paid for the accident, even if you think you were in an accident.
Many Oklahomans depend on their car to get to work, school, childcare, groceries, and everything else we need to live a normal life. That’s why it’s important to know what your options are if you can’t drive. Read on to learn what you can do about a totaled vehicle and how Oklahoma’s total loss laws apply to you.
Car Totaled In Accident Not At Fault
If the damage is so extensive that it cannot be repaired, or if its repair costs exceed a certain percentage of the car’s total value, the insurance company will declare the vehicle totaled. Most insurance policies are arranged to pay the lesser of two amounts:
Must I Repair My Car After An Insurance Claim Accident?
Insurance adjusters determine a value called Actual Cash Value (ACV) that calculates the market value of the vehicle in its current condition.
In Oklahoma, the total loss limit is 60% of the ACV. In other words, if the insurance company determines that your car needs repairs for more than 60% of the actual cash value, the state allows the insurer to cover this total. So if your car’s ACV is $5,000 but you need $3,500 in repairs, it’s a total loss vehicle.
If you disagree after your insurance has been declared a total loss, you can usually dispute it. However, if the repair costs still exceed Oklahoma’s 60% ACV total loss threshold, the vehicle will be a “total loss.”
However, you still have options. You can keep your car totaled and change its title to a salvage title. The insurance company can then subtract the car’s salvage value from the ACV and pay the difference. However, salvaged vehicles still need to be repaired before plates can be issued. And you may have trouble getting insured again.
Today I Totaled My Car And Learned A Lot Of Life Lessons
If your car is declared a total loss, you can still drive it, technically, if you get a salvage title for it, repair the damage, and re-insure it. However, this is easier said than done. And this is only if the car can be repaired at all.
Experiencing the total loss of a vehicle can be a terrible burden, making it difficult for an individual or family to go to work, go to school, get groceries, or do any of the things we all need to do to live our lives. . Adding to this stress is the struggle to repair or replace a damaged car, which can be especially difficult for car owners who still have to pay for their vehicle as a total loss.
After a car accident, it is normal to experience immediate shock. These events are traumatic, and it can be difficult to gather your thoughts and concentrate enough to negotiate with insurance companies. But anyway you’re going to get it, one way to make it a little easier is to have an order of what happens when your car is done, and what to do next. Additional steps include:
Oklahoma, like many states, has flawed auto insurance liability laws. This means that if your car is in an accident and you are not at fault, the insurer of the driver who caused the accident must pay for your personal and property damages, as well as their client’s.
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However, it may not be clear who is at fault, so you may have to prove to the insurance company that the other driver is responsible. This can take a long time – if you need emergency medical care or need to secure transportation after a car breakdown, you may not have time.
So if you’re not at fault, you may have to pay a deductible to cover yourself, at least in the near term. Your insurer can then seek reimbursement (including your deductible) from another country’s insurer.
Remember: Insurance companies maximize their profits by paying as little as possible. The actual cash value they determine may be much lower than allowed, or the insurance may deny your claim entirely. You can’t expect to know how to fight the insurance company over a damaged car, which is why it’s in your best interest to contact an experienced auto accident attorney as soon as possible.
Uninsured and underinsured drivers can cause problems for drivers who follow Oklahoma law and have adequate auto insurance. 1 in 4 drivers in Oklahoma are uninsured. That’s why it’s worth getting uninsured motorist/underinsured motorist (UM/UIM) coverage.
Auto Insurance Guide
If the at-fault driver is uninsured or if he crashes, your insurance will cover your costs, but you will have to pay your deductible unless you have a UM/UIM policy. You also have the option of filing a personal injury claim against the at-fault driver to receive compensation.
In Oklahoma there is at-fault, so the insurance company of the driver who caused the accident (assuming they are covered under state law) must pay for the damages of other drivers involved in the accident. However, fault must be proven to the insurer and they may deny your claim based on their client’s fault or say you are at fault enough to reduce your car insurance payment for a total loss.
Under Oklahoma law, a totaled car is one that requires structural repairs that cost more than 60% of the vehicle’s actual cash value. In this case, the car should get a salvage title. If the damage percentage is 80% or more, it needs a dirty name.
How to get a new car after a total loss? The hard truth is that it is often not easy. Some insurance policies will cover the cost of replacing the car instead of paying the ACV. This insurance allows you to pay market value for a new replacement car in the same class as the total loss car. However, many drivers do not have this option, as the premiums for such policies can be significantly higher than standard car insurance.
Is My Car Totaled?
And it’s clear why when you get a general comprehensive auto insurance claim based on ACV. Let’s say your car is totaled in Oklahoma because it needs $6,000 in work and the ACV is only $5,000. But your deductible is $1,000, so it’s reduced, and now you’re down to $4,000. There is still $3500 left on the car note and they will take it out of your settlement. Now you have $500 to buy a new car. If you don’t pay out of pocket for a better replacement, and most Oklahomans can’t, you’re stuck.
Car accidents are not included in your credit score. At least not directly. However, it may happen that later, a mountain of accumulated bills can ruin your credit if not paid.
Paying medical and auto repair bills, debt to pay off, more debt to take out can all be devastating. And at a time when you are unable to work due to injury and/or lack of transportation, the financial loss can be long-lasting.
At McIntyre Law, our experienced car accident attorneys know how to fight the insurance company after a total car accident. We consider what you need now and what you need to survive in the future, especially if you are no longer able to work or need long-term care. However, it is important not to delay. We can help you get back on your feet and move forward. Dealing with the full effects of a car collision where you were not at fault can be a difficult process. This blog post will provide insight into the legal rights and responsibilities of people who have been completely lost in a car accident where they were not at fault.
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File the claim immediately and collect the necessary documents. These steps play an important role in car wreck or total loss scenarios when you are trying to hold the at-fault party accountable.
Companies determine the actual cash value (ACV) of your car. We’ll look at the factors that affect a vehicle’s valuation and how to challenge an insurer’s initial valuation if it doesn’t seem right.
For those with debt on their auto financing, it’s important to understand loan agreements in a total loss situation. Additionally, we will discuss the importance of uninsured motorist coverage, especially when dealing with underinsured drivers on the road today.
Finally, professional legal advice can often help ensure that your interests are protected. The importance of expert advice in these complex legal processes cannot be overstated when you are dealing with a total loss of your car that was not your fault.
What Happens When Your Car Is Totaled
If you have been involved in a total car accident, you should be aware of your rights and responsibilities.
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