You’ve been in a car accident and you are injured. Your car is also damaged severely and is a total loss. Where do you go from here? What are your rights?
Fair Market Value
Many people want their car repaired after an accident. Mainly because they do not have the extra money to buy a new car. Not all cars are repairable after an accident. The value of your claim generally is determined by the cost of repairing it to its pre-accident condition. However, if the repair cost is 70% or more of the value of the car the Insurance Company will deem it a total loss.
So now your car is a total loss? What is it worth?