totalled?

by melissa
(nj)

I keep hearing different things.. oh its totalled .. oh no its not totalled... they said because the airbags deployed on the drivers side that its totalled .. plus the axel might be bent or something im not too good with terms .. its 2006 Honda civic ex .. to me I don’t think its totalled .. but what do i know ..

we haven’t heard anything back from the insurance company yet .. the guy was speeding at least 40 mph on residential .. I was turning at a stop sign when he was down the block .. I was in the turn already and I could go anywhere else when he was already near me ..

I got a ticket for failure to yield at a stop sign .. when no cops even saw it, yet they didn’t give him a ticket for having too many people in the car (5 total on provisional license) ..

His airbags didn’t deploy though .. the accident happened on 3/29/09 .. I just had my car a week and one day .. so im waiting now to send in my first payment for my car to see what the insurance company has to say about it.


Answer:

Hello Melissa,

I am sorry to hear about your accident. Well, a total loss is determined when the value to fix the car is more than 70 or 80% of the fair market value of your car (please see:

http://www.auto-insurance-claim-advice.com/totaling-a-vehicle.html

It looks like your car is in the “total loss threshold.” Meaning, the insurance company believes the cost to fix it might be very close to that 70 or 80% (different insurance companies have different percentages) of what they consider the fair market value of your car.

Some people believe that air bag deployment means total loss. It does not. Some air bag systems are very expensive to fix, and that is why an airbag deployment can push the car into the total loss area.

At any rate, sounds like you are dealing with loan. You are still responsible for the loan and you need to ensure payments are made as if the accident did not happen. I know this is unfair, but the insurance company has no duty to the bank (to make monthly payments for you). Your credit might be affected if you are not on top of the finances. Do not let your loan go unpaid.

If the car is a total loss, they will call and get a payout amount. They will settle with you (can take a long time), and then pay the bank the settlement. If there is any residue (bigger settlement that what you owe), you will get the excess.

The ticket can give you some problems regarding fault, please see:

http://www.auto-insurance-claim-advice.com/Fault-for-the-Accident.html

Good Luck,
http://www.auto-insurance-claim-advice.com