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Claims

    car with front end damage

    What happens after your car is totaled?

    If you’ve been in an accident, your insurance company may want to move the vehicle to a safe place that doesn’t charge storage fees. This makes it easier for the adjuster to begin determining if the vehicle is, in fact, a total loss, as well as determining the Actual Cash Value (ACV) of the vehicle.

    After a total loss has been confirmed, the ACV has been determined, and you’ve accepted the insurance company’s offer, your insurance company will want the following:

    • Signed paperwork (typically, a power of attorney allows the insurance company to prepare the title and/or an odometer statement)
    • Settlement/Release
    • The vehicle title
    • All keys to your vehicle
    • Your lienholder’s contact information

    It can be difficult to part with a vehicle, especially one that you’ve driven every day. It’s important to work with your insurance company to ensure the process goes as smoothly as possible. Their goal is to get you back on the road again as soon as possible.

    Sources

    1. “Total Loss & Car Insurance.” DMV.org, www.dmv.org/insurance/total-loss.php.
    2. “When Is A Vehicle Considered Totaled? | MWL Blog Post.” Matthiesen, Wickert & Lehrer S.C., 30 June 2015, www.mwl-law.com/vehicle-considered-totaled/.

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    American Family Insurance is our brand name. Auto policies are underwritten by American Family Connect Property and Casualty Insurance Company, American Family Connect Insurance Company, or Midvale Indemnity Company, Madison, WI. Property policies are underwritten by Homesite Indemnity Company, Homesite Insurance Company, Homesite Insurance Company of California, Homesite Insurance Company of Florida, Homesite Insurance Company of Georgia, Homesite Insurance Company of Illinois, Homesite Insurance Company of New York, Homesite Insurance Company of the Midwest or Homesite Lloyd's of Texas, Boston, MA. American Family Connect Insurance Agency, Inc., places policies with related and unrelated companies. In Texas, certain property coverages may be underwritten by Ranchers & Farmers Mutual Insurance Company. Each company has sole financial responsibility for its products. Products, pricing, discounts, benefits, and availability vary by state and may be subject to change. Exclusions apply.

    Costco Insurance Agency, Inc. is not licensed in New York state. Insurance products are not obtained through the Costco Insurance Agency, Inc. in New York. Costco Wholesale, Costco Insurance Agency, Inc. and its subsidiaries do not underwrite insurance, pay claims or guarantee any of the products or services. Costco Insurance Agency, Inc. (CIA), a licensed insurance agent, may receive compensation.

    This article is for informational purposes only and based on information that is widely available. We do not make any guarantees or promise any results based on this information. We are not responsible for the content of any third-party sites that may be linked in this article. This article does not afford, offer, or guarantee any coverage.