If your car has been deemed a total loss by your insurance company, there are steps you can take to maximize the actual cash value you receive for it.
Here are 3 tips to help you get the most out of your totaled car:
1. Do your research: Before accepting the insurance company's offer, look up the value of your vehicle. Websites such as Kelley Blue Book, Edmunds, or NADA will have it. Also check local ads to see what similar cars are selling for in your area.
2. Provide documentation: Hopefully, you kept the window sticker of your car that itemizes all the features included on your car. Also, if you've made any recent repairs, replacements or upgrades to your vehicle, be sure to provide documentation to the insurance company. This can include receipts/invoices for things like new tires, battery, brakes, rims, and customized accessories.
3. Last, read through paperwork presented to you and ask questions to make sure you understand the terms before signing anything.
Understandably, having your car totaled won't fully compensate you for the intrinsic value it's afforded you. But, combining these 4 steps will increase your chances of getting the most you can out of your totaled vehicle.
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