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Getting a New Car After A Car Accident
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Getting a New Car After A Car Accident

Understanding your rights to compensation is critical to making sure that you are treated fairly.

Getting a New Car After A Car Accident

If you’ve been in an accident, you may just be considering yourself lucky that you weren’t seriously injured or killed. But after the shock wears off, a new question may arise: how do I go about being compensated for the damage to or loss of my car?

Getting a new car after your car has been declared a total loss in an accident shouldn’t be a hard process — yet it often is. As an experienced Riverside car accident attorney knows, getting a fair value for your car from the insurance company can be one of the most challenging parts of the process!

What Am I Entitled To After My Car Is Destroyed?

While each case is different, as a general rule, you have the right to receive the actual cash value (known as ACV) of your car for its loss. The ACV is determined by looking at what it would cost to replace your vehicle based on its current condition, the mileage, the options it has and other factors. The insurance company will then issue a check for the ACV of your vehicle so that you can purchase something else.

The issue that we often see is that insurance companies often try to minimize the amount that the victim in a car crash recovers — from medical bills to pain and suffering to lost wages to the valuation of their car. The insurance company may use different tactics to get a lower value of your car, such as a computerized valuation program that puts a value on an “average” car that has sold for certain prices. In many situations, the comparison vehicles used to arrive at an ACV are not at all similar to the one that you lost — a trick that can result in you losing out on thousands of dollars. That is where a skilled Riverside car accident attorney can be an invaluable asset. We will demand all valuation paperwork, and challenge the insurer’s valuation of your vehicle if it is based on vehicles that are not like yours. Working with a lawyer can be an incredible asset in these situations, as he or she will fight to ensure that you get what you deserve for the loss of your car.

Alternatively, the insurance company may agree to what is known as a collateral swap. This is when the insurer finds a car that is similar to the one that you lost. If you still owe money on the car that was destroyed, you will then have to take the additional step of contacting your lender and asking them to substitute this vehicle for the one that is currently on the loan.

If you are without a car for a period of time during this process, you have the right to a rental car because you have lost the use of your car as a result of the accident. The responsible insurance company is required to fairly compensate you for the loss of use of your car, which means that you are entitled to a rental car that is similar to the one that was lost or damaged in an accident. Again, many insurance companies try to reduce their loss by telling accident victims that they are only entitled to a certain type of car or a limited daily allowance for a rental car. An experienced Riverside car accident attorney can make sure that your right to fair compensation is enforced so that you get a comparable car for the length of time that you need it until your car is repaired or you can buy a new car.

If you have been injured or suffered damage or loss of your vehicle in a car accident, you don’t have to go it alone. A Riverside car accident attorney can help make sure that you get the compensation that you deserve for your losses. At the Law Offices of Larry H. Parker, we represent clients throughout the greater Riverside area who has been in car accidents. Contact our office today at 800-333-0000 or info@larryhparker.com to schedule a free appointment and learn how we can help you!

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