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When Is a Car Considered to Be Totaled?

After a serious accident, a car owner might worry about whether or not their vehicle has been totaled. Typically, insurance companies will consider a car to be totaled if the cost of repairs surpasses its actual value. Rules and regulations for totaled cars can vary by state, so having an understanding of this process can be helpful.

New York’s Laws for Totaled Vehicles

Two people looking under the hood of a car

As previously stated, each state’s laws dictate when insurance companies can declare a car to be a total loss. In New York State, this is settled using the Actual Cash Value (ACV) of the vehicle. If the damages total more than 75% of the car’s ACV, it will be considered a total loss. An insurance company will assess the ACV of the car and present a report that details how they determined this number.

How Adjusters Appraise a Totaled Car

The insurance company’s quoted ACV for a car after an accident is often much lower than the car owner might’ve expected. This leaves many frustrated with their insurance companies and the adjuster’s valuation process. The ACV can be viewed as the amount that someone would have paid for the car if it had never been in an accident. This value considers previous wear and tear, depreciation, and the supply and demand for that specific model. Negotiating with an insurance company about a car’s ACV can be a difficult task that’s more suited to the skills of a personal injury attorney.

Common Injuries After a Car Accident

Aside from the damage to their vehicles from a car accident, individuals will also have to deal with their own injuries. Even seemingly minor accidents can cause serious injuries that require medical treatment and time off work. Some of the most common injuries that are caused by auto accidents include:

  • Whiplash
  • Traumatic brain injury
  • Broken bones or fractures
  • Back injuries
  • Burns

Call the Experienced Attorneys at Leav & Steinberg

If you or a loved one has been involved in an accident that left you with a totaled car and serious injuries, you should reach out to an attorney. At Leav & Steinberg LLP, our knowledgeable auto accident lawyers have helped victims in New York City and the rest of the Tri-State area receive sizable settlements. To schedule a free consultation with our staff, call 212-766-5222.