Do I Have to Repair My Wrecked Car?

After you get into a car accident, you will likely make a claim with your auto insurance carrier. But does this automatically require you to repair your vehicle? Can you choose to not repair your car after an insurance claim accident? If you are asking these questions, continue reading to learn what you need to know about auto accident insurance claims and car repairs.

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

Auto Loans and Insurance Continuation

When making an auto accident insurance claim, you will be subjected to a few requirements, especially when it comes to repairs. If you are interested in continuing with your comprehensive or collision coverage, the insurance carrier will require you to repair your vehicle. That is because all insurance companies refuse to cover a vehicle that has endured ambiguous structural and mechanical damages.

Insurance companies also mandate repairs after a wreck if you are still paying off an auto loan on the vehicle. In fact, your lender may also require you to have the vehicle repaired, and by one of their own approved auto repair providers.

You Are Required to Repair Your Car If:

☑ You are still paying off an auto loan.
☑ There is a lien on your car.
☑ You want to stay insured.

Opting Out of a Claim

If the vehicular damage is minor enough that is does not interfere with the safety, performance, or efficiency of your car, or you do not care about aesthetics, you can choose to forgo making a claim through your insurance carrier. If you want, you can make the repairs to your vehicle on your terms, when it is economically available to you. But if you decide later on to take your car in for repairs, you will have to pay for the work out of your own pocket.

Doing Your Own Repairs

If you own your vehicle in full, you might be allowed to repair the damages yourself, that is, if you are handy in auto body work and automotive mechanics. Just be sure DIY auto work won’t void any of your current coverage. Check your policy first to see of you are allowed to perform your own repairs. If there is a lien on your car, you will not be allowed to repair it yourself.

Is your vehicle uninsured and simply too damaged to bother with repairs? Great news! Just contact GC’s Junk Cars at 502-804-5605 to sell your junk car in Louisville Kentucky for cash on the spot. We provide free junk removal too!

Related Posts:

These 7 Things Will Slowly Total Your Car Overtime
What to Do With a Totaled Car if You Do Not Have Collision Coverage
Car Wreck Insurance Myths to Beware Of

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