A Guide to Understanding the Insurance Claims Process for Totaled Cars

If you’ve been in a car accident recently, and your vehicle has been declared a total loss or “totaled”, it can be an overwhelming experience. You may have questions like: What is the insurance claims process? How do I get compensated for my totaled car? Do I need to file a claim with my insurer? Fortunately, understanding the insurance claims process for totaled cars doesn’t have to be complicated.

In this guide we will answer all of these questions and more so that you can navigate the process with ease. We will explain what it means to have a totaled car, how to determine if your vehicle is considered a total loss, how auto salvage works and what steps are involved in filing an insurance claim after totaling your vehicle.

By the end of this guide, you should feel confident about navigating through the insurance claims process for totaled cars. Let’s begin!

Call 502-804-5605 to Scrap a Totaled Car in or around Louisville, Kentucky.
Call 502-804-5605 to Scrap a Totaled Car in or around Louisville, Kentucky.

How Insurance Carriers Define a Totaled Car

First and foremost, it’s important to understand what a totaled car is. A totaled car is also known as a total loss vehicle, which is a vehicle that has been involved in an accident and the cost of repairs exceed the actual cash value (ACV) of the car. The actual cash value is determined by looking at factors such as year, make, model, mileage, and condition of the vehicle prior to the accident. In most cases when a totaled car has been declared, your insurance company will deem it as a total loss and compensate you for its ACV minus any applicable deductions like policy deductibles.

Auto Repair Estimates

The first step in understanding the insurance claims process for totaled cars is determining if your vehicle qualifies as a total loss. This typically involves getting estimates from repair shops or auto body specialists. If the repair costs exceed the actual cash value, then the car is usually considered a total loss. Once this is established, you can move forward with filing an insurance claim and being compensated for your totaled vehicle.

Filing a Claim With Your Auto Insurer

Now we need to discuss how to file an insurance claim for your totaled car. To do this, contact your insurer and provide them with all the necessary paperwork including the ACV estimates, repair quotes and any photos of the accident. They will then work with you to process a claim so that you can get compensated for your totaled vehicle. Once everything is finalized and you have received payment from your insurer, you can move forward with purchasing a new or used vehicle as needed.

Scrapping a Totaled Car at an Auto Salvage Yard

Now that we have determined that your car is indeed a total loss, let’s talk about auto salvage. Auto salvage involves selling off any parts of a totaled vehicle that are still usable or recyclable and reusing them to repair other vehicles. This helps save time and money when repairing cars from accidents instead of having to buy new parts every time. Sometimes, Cash for Cars companies and junk car buyers in Louisville are willing to purchase entire vehicles or even parts for cash on the spot. Some auto salvage lots will even tow your junk car for free.

Be Sure to Contact Your Insurance Carrier to Confirm Policy Details

We hope this guide has been helpful in understanding the insurance claims process for totaled cars. Do note that every situation is different and there may be additional steps involved depending on where you live. If you have any questions about filing an insurance claim for a totaled car, don’t hesitate to reach out to your insurer for more information.

Are you interested in selling your totaled vehicle for a high amount of cash in the Louisville area? Contact GC’s Junk Cars at 502-804-5605 to speak with a trusted Indianapolis junk car buyer for details on how to get started! We offer free junk car removal and accept all old or broken auto parts!

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Navigating the Aftermath of Totaling a Car: What You Need to Know

Being involved in an accident that totaled your car can be a stressful experience. You may be wondering what to do next and how to handle the situation. It’s important to know your rights and understand the process of dealing with a totaled car so you can make sure you get a fair resolution.

In this blog post, we will provide an overview of navigating the aftermath of totaling a car, including understanding auto salvage lots, junk car buyers, and other options for getting compensated after having your vehicle totaled. We hope this guide will help you navigate this difficult time more easily and confidently.

Call 502-804-5605 to Get an Offer From a Louisville Kentucky Junk Car Buyer!
Call 502-804-5605 to Get an Offer From a Louisville Kentucky Junk Car Buyer!

What is a Totaled Vehicle?

First, it’s important to understand what totaled means in the context of a car. A totaled car, or total loss car, is one that has been deemed with severe damage that would cost more to repair than its actual cash value (ACV). Once your vehicle has been totaled, you will need to file an insurance claim with your auto insurance provider. They will determine the actual cash value of your totaled vehicle.

What To Do With a Totaled Car

Once you have determined that your car is a total loss, there are a few options for what to do next. You can either sell it to an auto salvage lot or junk car buyer in Louisville, donate it to charity, or keep it as-is, depending on the circumstances.

Sell. If you decide to sell your totaled car, auto salvage lots and junk car buyers are two of the most common options. Auto salvage yards buy totaled cars from drivers in order to resell their parts or rebuild them for later sale. Junk car buyers purchase total loss cars for scrap metal. Both auto salvage lots and junk car buyers will typically offer you a lower price than the actual cash value (ACV) of your junk car, but it can still be a good option if you need cash quickly.

Donate. If you don’t want to sell your totaled car, there are other options available. You can donate it to a charity or keep it as-is. Donating your total loss vehicle may be a good option if you don’t need the money, as many charities accept totaled cars and will offer tax deductions for them.

Keep. Keeping a total loss car is an option if the damage isn’t too severe, but it is important to understand that driving a totaled car is illegal in many states.

Get Compensated for a Total Loss Vehicle

Navigating the aftermath of totaling a car can be overwhelming and stressful. Knowing what to do and understanding your rights are key to ensuring you get the fair resolution you deserve. We hope this guide has been helpful in giving you an overview of navigating the aftermath of totaling a car, including auto salvage lots, junk car buyers, and other options for getting compensated. 

Is your car totaled or totally junked? If so, trade it in for cash on the spot, then place that profit towards a new car! Contact GC’s Junk Cars at 502-804-5605 to sell a junk car in Louisville, Kentucky for an instant cash payout. We provide FREE junk car removal!

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Facts About Engine Sludge

Each year you have your vehicle, it incurs more and more wear and tear. Many types of wear and tear are imminent and cannot be controlled or avoided, but many others can. With regular scheduled car maintenance, you can protect your vehicle from excessive or premature automotive damages. If you neglect to take a car in for routine service, your vehicle can eventually experience serious mechanical malfunctions and breakdowns. One such result of poor car maintenance is engine sludge.

Continue reading to learn what you need to know about engine sludge, including where it comes from, why it’s harmful to a vehicle, and how to get rid of it responsibly.

Louisville KY Auto Salvage Yard 502-804-5605
Louisville KY Auto Salvage Yard 502-804-5605

Automotive Engine Sludge is a Serious Problem

Engine sludge is a destructive substance, and therefore a serious problem, as it can lead to several mechanical breakdowns and defects within the engine and other automotive systems within the vehicle. Even just a little sludge can eventually damage the engine and its inner components, overtime. For this reason, it is imperative to have engine sludge problems treated as soon as possible. The longer you wait, the more damage will result. If engine sludge is never dealt with, it can render a vehicle a total loss.

What You Need to Understand About Engine Sludge:

Engine Sludge is Formally Motor Oil

if you’re wondering where the engine sludge is coming from in your car engine, the answer is motor oil. Engine sludge comes from oil It is generated when oil is oxidized or contaminated. If you fail to get an oil change, engine sludge can begin to develop.

Oxidation, or as you know it, resting, naturally occurs to oil overtime. Although it is imminent, excessive oxidation can be abated with routine car maintenance and oil changes. It is important to keep your car oil clean to avoid engine sludge production.

Motor oil can become contaminated by the gasoline you put in your car. Overtime, contamination can lead to the development of engine sludge. Not only should you stay current on routine oil changes, but you should also use at top-quality motor oil to prevent engine sludge formation.

Engine Sludge Will Damage Your Motor

Engine sludge is a serious problem because it can cause major damage to your motor. When engine sludge is present in your engine, the lines are obstructed with gunk, therefore reducing the flow of motor oil through the engine. This can lead to excessive heat and friction, which can damage all components within the car engine. Engine sludge can cause ignition problems and overheating engines too.

Engine Sludge Can Only Be Repaired Professionally

If your car has shown signs of engine sludge development, it is important to take into a licensed mechanic and have it repaired. Only an automotive shop will have the proper resources and technologies to properly eliminate the engine sludge buildup within your motor, safely and without damaging any other components. They can also put you on a routine car maintenance schedule that will prevent engine sludge formation in the future.

Is your car totaled now because the engine had too much sludge in it? If so, contact GC’s Junk Cars at 502-804-5605 to sell your totaled car in Louisville Kentucky for cash on the spot. We provide free junk removal too!

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Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

What to Do With a Totaled Car if You Do Not Have Collision Coverage

So, you’ve just totaled your car, and now you are panicking because you do not have comprehensive, nor collision insurance coverage. But that is okay! There is still a viable option for you to earn back cash for your total loss vehicle so that you may apply it toward a new car purchase. Continue reading to learn what to do with a totaled car that was not coverage by comprehensive or collision coverage at the time of the accident.

Sell a Totaled Car in Kentucky 502-804-5605
Sell a Totaled Car in Kentucky 502-804-5605

Totaled Cars and Total Loss Vehicles

A total loss vehicle is the same thing as a totaled car. It simply means that a vehicle so far damaged, it is not worth the cost of repair. But this is lamest terms. There are actually very specific formulas used by automotive insurance companies to measure the pre-crash, and post-accident depreciated value of a wrecked or damaged vehicle. Basically, a vehicle is deemed totaled by an insurance company if the vehicle is so damaged that the cost to repair it exceeds its pre-accident value, which is the value it would have been worth prior to the damage incurred.

For instance, if a 2005 F-150 truck has a pre-crash worth $7,000 prior to an accident, but the cost to repair the damages in the accident are higher than seven thousand dollars, the insurance carrier would strike it as a total loss, or totaled vehicle.

In another example, if a 2020 C-300 Mercedes Benz is valued at $53,000, but is driven into a lake, sinks to the bottom, and must be recovered by a towing crane service, you can bet that the whole car is a loss. In this case, the insurance company would deem it so.

More specifically, the cost to repair a vehicle must exceed 50% of the vehicle’s pre-crash value in order for the state to require an insurance company to label it a total loss and issue it a salvaged title. Most states allow insurance companies to make this determination themselves, while some states set a specific law requiring insurance companies to follow the 50 percent total loss rule.

How to Earn Money Back for an Uninsured Totaled Car

If you had comprehensive or collision insurance coverage at the time of the accident, and your car is now totaled, your insurance company will issue you a check for the pre-crash value, minus your particular deductible. So, if your deductible is $1,500 and the precrash value is seven thousand dollars, you can expect the insurance company to pay you $5,500 in total. If you choose to keep your totaled car, the insurance company will deduct the scrap value as well, paying you out even less.

If you did not have any insurance coverage, or only liability insurance coverage, at the time of the accident, you will not be making a claim for compensation; that is, unless the accident was someone else’s fault, in which case, you could sue their insurance for your damages. So, for those who have wrecked their cars beyond repair, and have no insurance money coming in, what can they do? The answer is to sell a totaled vehicle to an auto salvage yard for an instant cash return. You can get paid the scrap value of your vehicle.

Where to Get Paid Instant Cash for Your Totaled Car in Kentucky

Call GC’s Junk Cars at 502-804-5605 to sell a totaled car in Kentucky for instant cash on the spot. We accept all make and model vehicles, regardless of age or condition! There is never a middleman, which means you walk away with more cash in your pocket. Furthermore, we will dispose of your vehicle according to all Kentucky EPA regulations. You can rest assured that your car will not have a negative impact on our environment. We also offer free towing haul away!

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

Car Wreck Insurance Myths to Beware Of

Now that winter is approaching, and snow is just around the corner, safe driving cannot be talked about and understood enough. But in addition to safe driving is the importance of accurate insurance awareness. Knowing what to expect from your car insurance policy is crucial, which is why it is strongly suggested to review your benefits before the start of each winter season. More importantly than knowing your automotive insurance benefits, is understanding them so to not fall victim to the common insurance myths out there.

Continue reading to learn about the most common motor vehicle insurance myths, and the truths behind them.

Louisville Junk Car Buyers
Louisville Junk Car Buyers 502-804-5605

Car Insurance Basics to Understand

Motor vehicle accidents are among the most common causes of death in this country. Practicing safe driving techniques is critical, but understanding your insurance policy can protect you and your family on the road as well.  More than accidents, drivers fall victim to false insurance myths, rumor mills, and word-of-mouth.

Most Common and Untrue Car Insurance Myths:

Credit Score Has Nothing to Do With Insurance Rates. Credit scores plays a major role in the amount of the total cost of your premium. That is because most car insurance companies use credit-based insurance scores to help determine risk. Not only does credit score influence insurance rates, it also can affect loan eligibility.

Red Cars Cost More to Insure. The color of your car has nothing to do with the cost of your insurance premium. The primary factors that insurance carriers tend to base rates on include the make and model of the vehicle, the vehicle’s age, the vehicle’s body type, the vehicle’s engine size, the driver’s driving record, the driver’s credit history, and the driver’s age. So go ahead and get that candy apple red two door you’ve been eyeing; it will not affect your total insurance payment.

New Cars Cost More to Insure. It is understandable that this myth has fooled consumers, since sometimes it is true; especially if your down payment is small. A new or expensive car may require more coverage, but the rates do not always increase simply because it is a new vehicle.

Rates Automatically Increase After a Filed Claim. Again, this myth is understandably confusing. Although sometimes car insurance rates will increase after a claim, it is not always the case. The primary factors looked at include the severity of the accident, the driver’s claim history, and the total cost of the claim.

Lapses in Coverage Do Not Affect Rates. Even if you are not driving, a lapse in insurance coverage will affect your car insurance rates when it comes time to start driving again. In fact, it can have a large financial impact on your total car insurance premium. So do not fall victim to this myth!

You Can Keep a Totaled Car and Claim Insurance Too. Car insurance companies do not allow claimants to keep their totaled car if they also accept the insurance payout. They must choose one or the other. In some cases, claimants are not allowed to keep their car at all, even if they forgo a payout.

How to Get Cash for Your Wrecked Car in Kentucky

Call GC’s Junk Cars at 502-804-5605 to sell a junk car in Louisville and its surrounding counties, today! We accept all make and model vehicles, regardless of age or condition! There is never a middleman, which means you walk away with more cash in your pocket. Furthermore, our Louisville junk car buyers offer free towing haul away! Request a free estimate for your junk car, today.

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

What to Do After Totaling an Uninsured Car in Kentucky

If you were to get into a car accident that totals your vehicle, but the accident was not your fault, the at-fault driver’s insurance company would pay to have your vehicle repaired back to the condition it was in before the accident. But what if the scenario was the other way around? What if you are to blame for totaling your car? What would happen then?

Continue reading to learn what to do after you total your uninsured, or under-insured, vehicle in Kentucky.

Louisville Totaled Car Buyers 502-804-5605
Louisville Totaled Car Buyers 502-804-5605

Inadequate Auto Insurance Coverage Can Come Back to Haunt You

Here in Indiana, all licensed drivers are required by law to operate a vehicle that is adequately covered by automotive insurance. If your car is not insured, or lacks sufficient insurance to meet the Indiana standards for coverage, you could be in for some trouble if you total it in an accident that was your fault. Whether the car accident involves another driver or not, you might face financial losses, as well as potential civil citations.

Not only must you pay out-of-pocket to repair all vehicle damages, including other vehicles impacted by the collision, here are the consequences of causing a wreck in your car if you do not have auto insurance:

⚠ You can be fined by the city up to $1,000.
⚠ Your drivers’ license can be revoked.
⚠ Your vehicle’s registration can be revoked.
⚠ You can be ordered to serve up to 90 days in jail.
⚠ You can be civilly sued by other parties in the accident.
⚠ You can have difficulty obtaining auto insurance in the future.

Dealing With a Totaled Vehicle

If you do not have car insurance, you will not be receiving any sort of payment from an insurance company to buy a new car. So, to make the most of your totaled vehicle, your best bet is to sell it to a Kentucky Junk Car Company that will pay you cash for it, regardless of its condition. An insurance company won’t trade you a payment for your totaled vehicle, but GC’s Junk Cars of Louisville, Kentucky will!

So Sell Us Your Totaled Junk Car Today!

Call GC’s Junk Cars at 502-804-5605 to sell a totaled car in Louisville and its surrounding areas. Not only do we accept all vehicles, regardless of age, make, model, and condition, we also payout the highest returns for junk vehicles in Kentucky. Just accept our offer and we will come pick up your junk car! Contact us today to request a free estimate!

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

Will Keeping My Totaled Car Reduce My Insurance Claim Payout?

After totaling a car, your thoughts are likely all over the place. From medical attention and financial responsibilities, to time of work, kids, family, and more, the aftermath of wrecking a car can be quite overwhelming. But the one thing you should not have to concern yourself with is your automotive insurance claim. When you signed your policy, you agreed to a specific pecuniary procedure in the case that your car is deemed a total loss after an accident or damage.

So, when you are considering the possibility of keeping your car after you total it, your insurance carrier should already have a plan for that option. However, keep in mind that there could be some financial disadvantages to doing so. Furthermore, it might not be an option at all depending on your particular insurance policy limits and restrictions.

Continue reading to learn more about keeping a totaled car and what it could mean in terms of collecting a payout through an automotive insurance claim.

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605

What You Need to Know About Car Insurance Claims and Total Loss Vehicles

In standard automotive insurance policies, if a claimant with full coverage wrecks their vehicle, the insurance company will provide payment to repair the damages. If the insurance company decides that a claimant’s car is totaled, they will officially deem it a total loss, which means the cost to repair the damages exceeds the current cash value of the vehicle. In this case, the claimant with full coverage will receive a payout for its value, minus depreciation. In some cases, an insurance policy does not allow a claimant to keep a totaled car at all, and must physically surrender it to them prior to receiving a check.

If you wish to keep your totaled car, the first question you might have is, “Will I get paid less for it?” The answer is an unequivocal and resounding yes. This makes sense, otherwise insurance companies would have to operate on an entirely different business model. How much less you get from your insurance company will depend on several factors, which you will have to read in the fine print of your policy. Most often, it is at least 50% less, which is a significant deduction.

Where to Sell a Totaled Car in Louisville, Kentucky

Call GC’s Junk Cars at 502-804-5605 to sell a junk car in Louisville and its surrounding counties, today! We accept all make and model vehicles, regardless of age or condition! There is never a middleman, which means you walk away with more cash in your pocket. Furthermore, we will dispose of your vehicle according to all Kentucky EPA regulations. You can rest assured that your car will not have a negative impact on our environment. We also offer free towing haul away!

Louisville Junk Car Buyers 502-804-5605
Louisville Junk Car Buyers 502-804-5605