It is very common for auto insurance companies to deny claims—even claims that may be viable. It’s a good idea to take a look at the fine print of your policy to learn how your insurer pays for claims.
If your claim is denied—either by your insurance company or the other party’s—your case doesn’t have to end there. If you’ve looked over your policy and determined that your claim has been handled unjustly, there may be steps for you to take to obtain the compensation you deserve.
Keep reading to learn more about what to do if your car is totaled and your claim is denied.
Know Your Rights
If your car has been declared a total loss, you likely won’t receive the full amount that you owe on the vehicle, or you may receive less than what you believe the vehicle is worth.
Most insurance companies value vehicles based on the “Actual Cash Value” (ACV) which means that the resale value will determine the amount of compensation they give you to replace your vehicle.
If you think your vehicle is worth more than the ACV, then you’ll need to prove it. The following are some elements that can bolster your case:
- How well you took care of your vehicle
- If you kept the vehicle in the garage
- The vehicle had very low mileage
- You conducted regular maintenance
Challenging a Claims Denial
While it may be possible to challenge the denial of the claim on your own, you’ll have much better chances of receiving what you truly deserve with the help of a skilled car accident attorney. Once you hire an attorney, the case will be put into arbitration. Whoever conducts the arbitration will be an appraiser who must consider the information presented by both sides and must submit a legally binding ruling.
If your car was totaled in a car accident and the insurance company denied your claim, we may be able to help. Our team is highly skilled in this area of the law and has helped many others in similar situations. Let us see if we can help you, too. Don’t delay—contact us right away with any questions you may have.
Call Farnsworth & Vance today at (907) 290-2576 to speak with an attorney about your potential case.