Factors That May Determine A Car “Totaled”

Factors That May Determine A Car “Totaled”
How Windham County Auto Insurance Personnel “Total” a Vehicle

Getting in an accident can be frightening and costly. While no one plans to get into a terrible collision, distracted driving or driving under the influence of controlled substances can increase the likelihood of being in an accident. Luckily, having the right Connecticut Auto Insurance coverage can help cover the cost of repairs and damages to your vehicle. Some damages are easy to repair but many accidents cause damages which can compromise the structural integrity of a vehicle and require pricey stints in an auto shop. Often collisions result in large amount of damage to vehicles can lead that vehicle to be deemed “totaled.”

Qualifying a vehicle as a “total loss” is one of the most misunderstood processes for drivers, as the process can be lengthy and slightly complex in some cases. The process begins when trusted industry appraisers who are trained to evaluate the condition of the vehicle to then calculate the estimated costs of repairs needed to restore the auto back to a drivable condition. A vehicle is generally considered totaled when it will cost more to fix the damages than the estimated actual cash value (ACV) of the vehicle. Even when the cash value of the vehicle is greater than the cost of repairs it is not always practical to do so. Appraisers report the total loss ratio (TLR), the cost of repairs over the actual cash value, to insurers who then compare that ratio to standards set internally and regulations from state governments. While some states dictate how high the TLR must be to qualify as a “total loss,” Connecticut allows insurers to establish their own total loss threshold (TLT). When the TLT is less than the TLR a car is considered totaled by most Connecticut insurance companies. If the sum of the cost of repairs and the salvage value of the vehicle are greater than the ACV of the vehicle, at which point the vehicle can be considered “totaled.”

When a vehicle is “totaled” the claimant is paid either the actual cash value of the vehicle or the cost to physically repair the automobile, after which the insurance company takes possession and title of the vehicle.

At Byrnes Insurance Agency we are committed to helping our clients understand all aspects of their Windham County Auto Insurance policies. Our policies offer the most comprehensive inclusions to protect yourself and your property. With access to dozens of insurers, we can obtain the most affordable rates for the Connecticut Auto Insurance coverage you need.  We’ll not only review your current needs but also any anticipated changes that can impact your coverage in the future. For more information about our offerings we invite you to contact us today at an office near you.

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Dayville Office

Phone: (860) 774-85
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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