Oklahoma Total Loss Claims
IS YOUR VEHICLE WORTH MORE THAN THE INSURANCE COMPANY IS OFFERING?
You don’t have to take a loss. You’re not powerless. We recover what you’re owed after a collision.
What is a Total Loss Vehicle
The total loss threshold in Oklahoma is 60% of the vehicle’s actual cash value (ACV).
Threshold systems account for the fact that damage is often more extensive than it appears. For instance, the threshold of 60% assumes that a car with that much damage is likely to have even more problems that won’t be visible until a mechanic starts repairing the vehicle. The Oklahoma total loss law or statute is also called a total loss threshold.
For instance, if a vehicle’s actual cash value is $10,000 and the repairs are $6,100 or 61% of the actual cash value, then the car is a total loss. The insurance company is responsible for paying you the vehicle’s market value or actual cash value.
Has your vehicle been declared a total Loss?
You want a fair value for your vehicle, but is that what the insurance company offers? In many cases, the total loss offer for a car in a comprehensive loss claim is far lower than acceptable.
Insurance companies usually use one of three companies, CCCOne, Mitchell, and Audetex Solutions, to evaluate your vehicle’s actual cash value (ACV).
Unfortunately, insurance companies in total loss claim frequently utilize faulty appraisals. They certainly do not always represent your automobile’s actual cash value (ACV).
It’s vitally important that you receive a fair offer, and Collision Safety Consultants are ready to review your appraisal for free. Letting a certified appraiser review your CCCOne, Mitchell, or Audetex valuation will help determine if you received a reasonable offer on the market or the actual cash value (ACV) of your totaled vehicle.
The terms of your insurance policy will give you the right to appraisal process in a total loss claim. This right to an appraisal may also be known as the appraisal clause. It is designed to help consumers dispute disagreements on the amount of loss in a total loss claim.
If your vehicle is declared a total loss and the insurance company offers you less than the car is worth, then you can invoke your right to appraisal to recover the difference. Our certified appraiser can recover the actual cash value of your vehicle from the insurance company.
What is Actual Cash Value?
Your vehicle’s actual cash value (ACV) is its market value at the time of loss.
Usually, a vehicle’s actual cash value is determined by the sale price of the exact car (same model year, make, condition, options, etc.) in the same geographic area. Online ads and Kelley Blue Book are two ways of figuring out a vehicle’s ACV.
Total Loss Results
Total Loss Claim
How much does the insurance company owe me for my total loss?
You’re entitled to payment of your vehicle’s actual cash value (ACV) at the time of the accident.
In many scenarios of a total loss vehicle, it might make sense to file a property/vehicle damage claim with your own car insurance company after an accident, even if you need to pay a deductible. If the other driver is ultimately deemed at fault for the crash, your insurance company will likely try to recover the deductible from the other driver’s insurer. In any case, you’ll almost certainly get money from your own insurance company a lot faster than you would if you wait for the other driver’s insurer to accept liability and pay you a fair settlement after you’ve filed a third-party vehicle damage claim.
If another insurance company accepts liability in Oklahoma and you file a claim through your carrier, they can not count it against your driving record. They cannot raise your rates, and you will likely get your deductible back. Furthermore, your policy will bind the insurance company to a higher standard than the at-fault insurance company.
Total Loss Claim
Recover your vehicle's value in a total loss claim.
Insurance companies are consistently undervaluing consumers’ vehicles in the event of a total loss. The insurance company finds that this is to their benefit – unlike the common belief, insurance companies don’t always put your best interests first. With the appraisal clause or right to appraisal, we can recover the actual cash value for your vehicle after it has been declared a total loss.
Contact us today to see how much you could owe your vehicle in a total loss claim. Don’t worry – it is quick and easy, and we manage the process for you.
Total Loss Claim
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How do I negotiate with the insurance company on a total loss?
The best method of refuting the insurance company offers is to invoke your right to appraisal.
Invoking your Appraisal Clause or Right to Appraisal will force the insurance company to hire an independent third-party appraiser. You must then hire your appraiser to represent you, proving the amount of loss.
Collision Safety Consultants of Oklahoma can provide revue your claim to determine if we can recover a better offer from the insurance company for your total loss free of charge.
Total Loss Claim Process
Invoking your right to appraisal
Total Loss Claim
Can I keep a total loss vehicle?
You can always keep your totaled car, but the insurance company will deduct the salvage value of the vehicle from the total loss settlement.
The salvage value of your vehicle is normally determined by the insurance company obtaining bids on what a salvage yard would purchase your vehicle for in its current state.
It is important to note that when you keep a salvage value, you risk the vehicle being branded with a rebuilt or salvage title.
Why choose Collision Safety Consultants to assist with your total loss Claim?
We do the heavy lifting for you
We are the only total loss appraisal service that handles every aspect of your claim. This means no stress, no worries, and no extra work for you. We don't simply supply you with a report on your case; instead, we assist you with the necessary paperwork and negotiations towards a settlement. All you need to do is accept payment!
Higher Payout guarantee
This common practice can be challenged! You don't have to accept low-ball offers from the insurance company. We stand behind our certified appraisals and guarantee we can help you with your claim before you ever hire us. And if we can't recover a higher settlement, you won't owe us a penny.
With over 40 years of combined experience, our certified appraisers are ICar platinum trained physical damage assessors, ASE certified damage analysts, and IACP certified automotive appraisers.