What if my car is a total loss ?

Submitted by Anonymous (not verified) on Wed, 09/06/2006 - 05:49

If my car is completely damaged in an accident and turns out to be an ultimate loss, then in that case how do I measure the amount of settlement that I'm supposed to get from my insurance company..? At the sametime I'd also like to know something about Policy Excess !

Posted: 06 Sep 2006 06:51 Post Subject:

Hi friend, I think its actually very simple but sometimes its difficult to understand. Thats why I'd like to be very precise but vivid. First of all let me tell you that any engineer appointed by your insurer would revaluate your car.This is done on the basis of the most recent market trends as well as the car value guides following the car's condition preceding the accident and relates to its function ability, mileage and the internal conditions.

Once the engineer evaluates the car he'd then surely communicate with you. Now, after the settlement is decided then they would ask a Personal Claims Advisor to check different databases related to this industry in order to make sure that their policyholders are protected against any kind of fraud.

After all these procedures are fulfilled the payment would be sent you after meeting necessary deductions. Hope, I'd been able to explain this procedure to you but since I don't have the expertise to tell you more about 'Policy Excess', I'll stop over here. Thank you.

Posted: 06 Sep 2006 07:26 Post Subject:

Hi If I may add to this, I'd rather lay stress on that part of the claim which you as an insurance consumer would need to pay once your insurer agrees to cover you for the rest.
You'd be informed better about such an amount, once you go thru your policy schedule and also consult with your Personal Claims Advisor regarding the details.

In reality, you are supposed to pay any such excess amount only if there is any damage to your car involving any mistake on your part or if your car gets stolen due to any negligence on your part. Otherwise this excess should come back to your pocket if it gets proved that the negligence in the accident was purely a fault of the other driver & not yours !
regards, Steven

Posted: 06 Sep 2006 09:15 Post Subject:

Thats inneresting to hear from you Steven. But how do we define this 'total loss' ! I'd be eagerly waiting for an explanation from your side. care..Sasha

Posted: 29 Sep 2007 04:18 Post Subject:

Hi meme, Your post has been shifted to the following URL.

http://www.ampminsure.org/claims/about3173.html

Regards,
Lakemen

Posted: 15 Oct 2007 02:05 Post Subject: Total Loss

total loss normally would be payed by blue book.
you can get more info on www.iii.org
Best Regards
Adam Power

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