Car accidents cause more than physical damage to your car. Even if you’re not injured, accidents can take a toll, both emotionally and financially. If your car sustains significant damage, it could be declared totaled. Continue on to learn what you can do with a severely damaged car after a car accident.
File an Insurance Claim
Filing an insurance claim after an accident is one of the first things you should do. Your insurance company needs to know the extent of the damage and whether it’s able to be repaired. However, it’s important to note that not all insurance policies cover everything.
If your car is totaled, your insurance company will reimburse you the entire amount excluding your deductible for comprehensive or collision coverage.
In some cases, you and the insurance company may disagree on the numbers they came up with. If that happens, you have two options: accept their terms or challenge it with a lawsuit. The second option is the most recommended if you or someone else was injured in the accident. Medical bills are expensive and can build up quickly. If the insurance company isn’t offering you enough to cover those—or at least make them manageable—then filing a suit might help.
Is the Cost of Repair Worth It?
A mechanic will perform a thorough inspection of your damaged car. Again, your car might not actually be totaled and may only need a few repairs to be safe to drive. If your car is able to be repaired, visit a mechanic. After an accident, automotive repair can range from fixing the brakes to replacing the entire front of the vehicle.
However, if the cost of repairing the car is more than the car itself is worth, it’s better to junk the car. Paying for a brand new car outright can be cheaper than the cost of repairs in the long term.
Know Who to Sell It To
If your car is totaled and repair is out of the question, that doesn’t mean you’re out of options. In fact, you can earn money by selling it to a car junker company who buys old, used, or totaled cars. It is really surprising how much these types of companies will pay for a junk car.
A word of advice—don’t sell your totaled car to a junkyard. The amount they give you is nowhere near the amount a junker company would, and that’s assuming they pay you at all.
Car accidents, no matter how minor or severe, need to be handled appropriately. Even if you weren’t injured, your car may not have been so lucky. Contact your insurance company, determine if your car is worth repairing, and take the necessary steps to recoup your losses.