Your car may be badly damaged in an accident in Los Angeles. In this situation, the value of your vehicle will need to be assessed. Assessing the value of your vehicle will play a role in determining if your vehicle will be totaled or not.
You can use this article to find out who determines the value of your car after a car accident in Los Angeles, CA. Get information about securing compensation for vehicle repairs with the Simmrin Law Group. Call (310) 997-4688 to speak to our car accident lawyers in Los Angeles now.
Insurance Agents Determine the Value of Your Car After an Accident
Generally, insurance agents are responsible for determining the value of your car after an accident in Los Angeles. Your insurance company will consider many factors when deciding on the value of your vehicle. They will start with the pre-collision value of your vehicle.
Once the company has the pre-collision value of your vehicle, they will find the actual cash value (ACV) of the car. The ACV of your vehicle represents the value of your vehicle after a motor vehicle collision. If repair costs exceed the ACV of your car, your vehicle will be considered totaled.
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Focus on the Pre-Collision Value of Your Car in Los Angeles, CA
The pre-collision value of your vehicle is not the amount of money you paid to purchase your car. In fact, the pre-collision value of your car will also be determined by the insurance company. When deciding on the pre-collision value, they may take the initial cost of your vehicle and subtract:
- Depreciation for driving the car off the lot
- Wear and tear on your vehicle
- Your vehicle’s mileage
- Any previous accidents your vehicle went through
The company may also look at the prices of cars similar to yours that are for sale in your area when determining the pre-collision value of your car.
Review Actual Cash Value for a Vehicle After a Collision in California
Once the insurance company determines the pre-collision value of your vehicle, they will move on to calculating the ACV. The ACV represents the pre-collision value minus any deductibles you would have to pay after an accident.
ACV is important, as it directly determines whether or not your vehicle will be considered totaled. If the cost to repair your vehicle exceeds its ACV, the insurance company will total your vehicle. This means that, sometimes, your car can be totaled even with relatively minor damage.
You can get more help going over the definition of ACV by working with a car accident lawyer in Los Angeles. Start getting answers to your questions now by calling (310) 997-4688.
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You Can Get an Independent Estimate for Repair Costs
Insurance agents in Los Angeles will likely inspect your car and then provide you with an estimate on repair costs. However, you do not have to just accept their estimate. Legally, you have the right to request an independent assessment from a vehicle repair shop of your choice.
You may wish to get an independent assessment if the insurance company quotes a very high price for repairs and decides to total your vehicle. A different repair shop could turn in a lower estimated price, allowing you to get your vehicle repaired.
Make sure your rights are respected after a collision by reaching out to the Simmrin Law Group for help right now.
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Secure Compensation for Vehicle Repairs After a Los Angeles Car Accident
In many cases, your insurance company will cover the costs to repair your vehicle after an accident. However, if someone else caused your wreck, they could be liable for your:
- Vehicle repair costs
- Medical expenses
- Lost wages at work
- Pain, suffering, and mental anguish
The Simmrin Law Group can help you secure compensation for your losses if you were in an accident caused by someone else. We’re standing by to begin working on your claim right now. We can even take your car accident lawsuit to court, if necessary.
Review the Value of Your Car After a Car Accident in Los Angeles
Insurance agents determine the value of your car after a car accident in Los Angeles, CA. You can get more information about the worth of your vehicle from the Simmrin Law Group. Our car accident lawyers in Los Angeles are ready to provide you with a FREE case evaluation.
Call us at (310) 997-4688 or fill out our online contact form to go over your legal options after an accident.