Important Tips for Handling a Total Loss Vehicle Claim
How to Handle a Total Loss Vehicle Claim
It’s what every motorist dreads to hear – “Your vehicle is a total loss.” Whether you were involved in a significant auto accident and expected the worst, or you bumped into something which damaged an essential component of your vehicle’s integrity, writing your car off can be stressful. To understand what you should do when handing a total loss claim in your auto insurance in Banning, CA, read on.
- Locate your vehicle’s title
The title is required to process a total loss vehicle. Make sure you find this document and keep your auto documents organized so that you can move forward with the settlement process quickly and efficiently.
- Know your lienholder
A lienholder is a financial institution that has either leased a vehicle to you or given you money on loan to purchase the vehicle. The lienholder’s information is important to gather as they should know about the incident and how the vehicle has been written off because they have an insurable interest in the vehicle. When a vehicle is deemed a total loss, the lienholder needs to be notified and they will provide a ‘letter of guarantee’ which will state what the current payoff is for the loan. If you have gap insurance, this coverage can help to pay off the remaining expense.
- Send off completed paperwork quickly
Total loss auto accident can require a significant amount of paperwork. An agreement needs to be reached on the payout amount of the totaled vehicle. Be sure to mail out your documents as promptly as possible so that the claims process can move forward quickly.
These tips can help you handle a total loss vehicle claim. To find the right auto insurance policy to fit your needs, contact the experts at Little & Sons Insurance Services. Serving Banning and the neighboring cities in California, our dedicated team is ready to assist you with all your insurance needs.