WEDNESDAY, JANUARY 13, 2021
When drivers think of totaled vehicles, they primarily think of dangerous accidents involving multiple cars and drivers. However, single car accidents can be just as devastating. Getting into an accident on your own can cause substantial damages to your vehicle and injure anyone in your vehicle.
Keep in mind that how a totaled vehicle is calculated does not have to do with the accident itself, but the damage involved. If the damage done to your vehicle would cost more to repair than it would to replace, your vehicle may be declared totaled.
Your insurer will calculate the value of your vehicle compared to how much repairs will be. If your vehicle is totaled, you may receive payment for the actual cash value of the vehicle minus your deductible rather than compensation only to make repairs on certain damaged areas.
Can You Prevent a Car from Being Totaled?
There is no real way to prevent your vehicle from being declared as totaled once it has already been damaged. The only way to prevent severe damage to your vehicle is to drive defensively and avoid distractions on the road, such as food and cellphones.
You should hold off on making repairs to your vehicle after an accident until you hear back from your insurer, as they will want to investigate the damage and help calculate whether your vehicle is indeed totaled. Keep in mind that totaling your vehicle isn’t the end of the world. As long as everyone is safe, it can be cost effective to purchase a new vehicle rather than trying to repair a totaled one.
Will Car Insurance Go Up After a Car is Totaled?
In general, your car insurance rates will go up after an accident whether it is a single car accident, multi-car accident, totaled or not totaled. Any incident involving your vehicle and insurance provider may impact your rates.
The rates at which your premiums will go up can vary depending on the circumstances and severity of the accident, however. For example, a single-car accident involving no injuries may only last on your record from three to five years. However, a severe accident in which you incur a DUI (Driving Under the Influence) can last on your driving record for an upwards of 10 years. This means that, as long as the accident it on your record, that is how long you may see a related increase in car insurance prices.
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