Total loss occurs when the cost of repair of a vehicle exceeds a certain amount. It's a situation where it makes more sense for the insurer to pay the pre-accident value of the damaged vehicle rather than repairing it.
When is my vehicle Totaled?
The vehicle is totaled when: The cost of repair + salvage value > Actual Cash Value
What is my vehicle's salvage value?
It's what the damaged metal is worth. This amount is normally provided by the salvage auction and is the average of what similarly damaged vehicles have sold for in the past.
What's my vehicle's actual cash value?
This would be the amount your vehicle was worth prior to the accident.
Who calculates my cash value?
Insurance carriers generally use valuation services to assess the value for your vehicle. CCC, JDPower Mitchell and Audatex are the largest providers of valuation services.
How do I get my cash value appraisal?
Insurance companies must give you the valuation or appraisal reports they use to determine your vehicle's value.
Is the cash value appraisal negotiable?
If you believe your vehicle is worth more, you must prove a higher value. This is usually done by providing the carrier with an alternate report.
How can I order an alternate appraisal?
Contact a legitimate licensed/certified auto appraiser (BENCHMARK AUTO APPRAISERS L.L.C., we charge $249 for a full 15 page vehicle valuation report.
Will the insurance company recognize my appraisal?
Yes, as long as the appraiser issuing it is licensed and competent.
Does my appraiser need to inspect the vehicle?
Not unless we are disputing the condition and equipment listed on the insurer's report.
Do I have to pay upfront for an appraisal or after the settlement?
We process appraisals AFTER full payment is made.
Can I get a Free Estimate for Total Loss before ordering the report?
Yes, we offer a $50 claim review.
Would you negotiate a claim on my behalf, and if so, is there an added cost?
Yes, on first party claims (against your own carrier), we will communicate with the other appraiser and reach an agreement. The $85 fee includes this service.
It's the insurance companies and the adjusters job to pay out as little as possible. It's Benchmark Auto Appraisers L.L.C. job to get you the most money you are entitled to. WE REPRESENT YOU! Let our experts determine the actual replacement cost for you totaled vehicle including tax, towing, plates, title fees. If we cant get you more we will refund 100% of you money back ! Daniel Jendrowski President Benchmark Auto Appraisers L.L.C.