- September 26, 2024
- Tucker Law
- Car Accident Lawsuits
A serious car accident can leave you with catastrophic injuries as well as a damaged vehicle. In some instances, you may even have a totaled car. If the accident was the result of another person’s negligent or wrongful conduct and you suffered severe injuries, New York allows you to file a claim against the at-fault person to recover losses. But can you get full compensation for your vehicle? And what does “totaled” mean?
At Tucker Lawyers, our team of New York car accident attorneys assists people who have been in collisions. We have decades of experience helping clients recover millions of dollars in settlements and jury awards to cover medical expenses, property damage, and emotional losses. If you’ve been in a car accident, we’re just a phone call away.
Contact the team of car accident attorneys at Tucker Lawyers by calling (516) 399-2364.
What Does “Totaled” Mean?
A totaled car is a car that is a “total loss” for the insurance company. This means that the cost of the repairs is more than the car’s value or that it has sustained damage that isn’t repairable. Knowing what “totaled” means in New York is important, because a totaled car can make the claims process after a car accident more complicated.
The insurance company will pay you the car’s actual cash value and take possession of the vehicle to sell as salvage. One of the problems with this is that your vehicle’s value may be too low at the time of the collision to allow you to purchase another car. You get compensation, yes, but you’re still left without a mode of transportation. In those instances, having a car accident lawyer by your side can make a difference.
How Do Insurers Determine a Total Loss?
Among all non-fatal accidents throughout the country in 2022, 4,226,677 caused property damage. A significant number of the vehicles involved in collisions sustain property damage that exceeds their value. But how do New York insurers determine a total loss?
Insurers follow a standard procedure when calculating whether a vehicle is totaled. In New York, they determine a car is a total loss only when the cost of repairing it will exceed 75% of the insured declared value (IDV).
Insurers will consider the full value of the car based on its mileage, condition, and year. They can use a number of formulas to perform this analysis. Each state might have a different total loss threshold that insurers consider when making this decision. Once they declare the vehicle a total loss, the insurer will pay you for the present insured declared value of the car minus the deductible. You’ll have to move the car to the premises the insurers recommend and transfer the vehicle’s ownership to the insurance company.
At Tucker Lawyers, we have decades of experience negotiating with insurance companies to help clients recover fair compensation.
Your Options After a Total Loss
Understanding Your Next Steps
If your car is declared a total loss, you have a few different options. One of these is to accept the payout the insurers provide. The car will go to the salvage yard and you have a chance to get another vehicle.
That’s not always possible, however. If you only receive $2,000 for your vehicle, it’s likely not going to be enough to buy another mode of transportation. If you haven’t paid off the vehicle, you can end up owing the rest of the loan. What are your options, then? You can hire a team of lawyers to help you appeal the settlement. That’s something we can do at Tucker Lawyers. We’ll fight to get the car reevaluated.
Some people choose to keep the totaled car. In that instance, you will receive a payout from the insurance company with the salvage rate subtracted. The salvage rate is what the insurers would have received when they sold the vehicle to a scrap yard. You have the option of selling it directly to a scrap yard yourself, or you could trade it in with a salvage title. Sometimes, people choose to repair the vehicle, though that’s not a feasible option for most. Getting the vehicle road-ready again will cost you a significant amount, and you can expect insurance for the vehicle to be much higher.
For most people, the best option is to fight the insurance settlement and try to get as much as possible for the suffering and inconvenience caused. To do so, you need to hire our team of experienced car accident attorneys at Tucker Lawyers.
How Tucker Lawyers Can Help After a Collision
If you’ve suffered losses significant enough to allow you to step outside of New York’s no-fault laws, you can sue the person who caused the accident. You must have attorneys helping you. At Tucker Lawyers, we have experience gathering the evidence that can demonstrate you deserve compensation. Crucially, we know how to negotiate with insurers. That’s not something you ever want to do on your own. Insurance companies search for any way to keep from paying you what you deserve, and that can often mean pressuring people into accepting a subpar offer.
We will fight for your rights so you can get the help you need to address the physical and emotional distress you’ve suffered. If we feel that insurers aren’t negotiating fairly, we can take your claim to court.
Contact Tucker Lawyers After a New York Car Accident
Rely on Experience and Dedication
After suffering losses in a collision that someone else caused, you have the right to file a personal injury claim to get compensation. That’s not an easy process to go through on your own, however, so getting our lawyers to help you can be a way of easing some of the stress you’re dealing with while also making it more likely that you’ll recover fair compensation.
Call Tucker Lawyers at (516) 399-2364 to schedule a free consultation with one of our car accident attorneys.
Managing Attorney John. J. Tucker, Esq.
John has personally handled thousands of clients who were victims of another’s negligence and fights relentlessly for their rights. John enjoys bringing closure to a client’s matter so that the injured party can move forward with their life. His background enables him to evaluate complex liability related claims and bring resolution to claims in a record time frame. [ Attorney Bio ]