Car accidents are one thing we couldn’t avoid. If things are really so unlucky that an accident happened and the car is totally crashed, we should at least know how to determine the value of a totaled car and negotiate the most money for the damaged car. There are two trusted companies available in the market which is Edmunds and Kelly Blue Book Value.

Every car insurance companies are different. Generally, car insurance companies will value the car based on the total cost to repair the car or based on the current market value. Insurance company will not compensate the value of a totaled car if the car is repairable. If it is not repairable, insurance companies will value the car with what the market is currently selling based on the car model and manufactured year.

Whatever it is, you should be thankful that you are still able to look for compensation after the car is totally crashed. First, do not panic, it’s time to read the car insurance policy from first page to the last page. Well, we know that 90% of car owner do not read it when they bought the car. Knowing what is exactly covered and what is not will give you a clue when negotiating with the agent.

Maximize the totaled car value

You are required to collect as much as information as you can before negotiating with your agents. Online websites like Edmunds or Kelly Blue Book are able to determine your Actual Car Value (ACV). Not to forget to include the sales tax, registration cost, towing cost, car rental cost (if your insurance coverage allows you to rent a car), and some other cost occur from the accidents to the claim amount. There are three major things where insurance companies usually estimate a car value: car condition level, mileage, and options. Make sure you have all these information when finding the maximum worth of your car.

Every insurance company is different, but at least you come up with your own valuation of your car using online pricing sites available. You can then compare the average car price of what you found with what the company’s offer. You can always request for more details of how they value the car if the amount has a big different of what you have found. Do not forget to include all the standard car accessories to the valuation too. For instance, car stereo and sport wheels if there is any.

You have to bring out any extra things on your car that will value up the car price. Special body color, limited edition, collector cars, and very rare classic cars are things that should be presented to insurance companies.

Insurance company will either write you a check if the car has been totaled or offer you a full repair. It is up to you to accept the money and get a replacement or accept the car to be repaired. Many people give up the car because it is hardly return to how it was after a serious accident. In a nutshell, it is pretty much depends on how much you love the car. Determine the value of a totaled car is indeed important even before an accident occurs.