After a serious Ohio car crash, it can be devastating to see your vehicle -- quite possibility your sole source of transportation -- damaged beyond recognition. You will likely have a flood of thoughts going through your mind. What will the insurance company do? Will you have to buy a new car? Can the body shop repair your car and make it look like new again? Read on to find out the next steps after a car accident that causes significant property damage.
The first step is to contact the insurance companies involved. You will want to get the damage assessed so you will know whether to make arrangements to get the car fixed or purchase a new one altogether. The insurance company will take care of this. It will typically get three estimates. If you need a rental car, be sure to let your insurance agent know so it can be arranged.
The amount of compensation you will receive is based on the difference in the car's value before and after the accident. The insurance company will look at the car's value and if the cost of the repairs exceed 75 percent of that value, then the car will likely be totaled and you will receive the Blue Book Value. This value will include non-stock tires, stereo systems and any other extras you installed on the car.
If your car was damaged due to the fault of another party, you may come across issues with his or her insurance company. The company may refuse to pay for certain damages or the liable party may not have insurance at all. If you don't have uninsured motorist coverage and the damage is significant, your only other recourse may be to file a lawsuit against the at-fault party.
Source: FindLaw.com, "Car Accident Property Damage Claims FAQ," accessed on Dec. 13, 2014
No Comments