Help Needed: My Car is a Total Loss, Unsure of Next Steps
I’m in a bit of a tough situation with my 2022 Nissan Altima, which has 49k miles on it. I was rear-ended on February 21, 2025, after some snowy weather made the roads slick in Oklahoma. Although my trunk wouldn’t close and the back bumper was damaged, the car remained drivable. I just finished paying it off last month, so I had no remaining balance.
The other driver has Geico, and they referred me to a collision center. I dropped my car off on February 24, 2025, but I received a call later that day stating it was deemed a total loss. They’ve offered me $17,343 for the vehicle. As this was my first car and I just paid it off, I’m really hoping to keep it if possible.
Can anyone advise me on how to approach the insurance company? Will they provide the full $17k to repair the car, or might it be less? Additionally, if I decide to accept the settlement, is there a way to negotiate the actual cash value (ACV) for a higher amount? I’ve been researching similar vehicles in my area, and they’re listed between $18k and $20k.
I’m planning to call them later today and could really use some guidance on how to handle that conversation. Thanks in advance for any advice!
I’m sorry to hear about your situation. Dealing with a total loss can be really stressful, especially when it’s your first car. Here are some steps you can take to navigate this process:
Understand Your Rights: When a car is deemed a total loss, the insurance company will typically offer you the Actual Cash Value (ACV) of the car at the time of the accident. This is usually calculated based on the car’s condition, mileage, and market value. It’s important to know that you can negotiate this offer if you feel it’s too low.
Research Market Value: Since you’ve already looked at listings for similar Altimas going for $18-20k, gather evidence to support your case. Make a list of comparable cars (make, model, year, mileage, condition, etc.) along with their asking prices. This can help you make a stronger argument to the insurance company.
Contact the Insurance Company: When you call Geico, express your desire to negotiate the ACV. Be polite but firm, and present the evidence you’ve gathered. Explain that you’ve seen similar cars listed for higher prices and that you’d like to discuss the discrepancy.
Ask About Vehicle Retention: If you want to keep your car, ask Geico if they allow you to buy it back after it’s deemed a total loss. Typically, they will deduct the salvage value from your settlement offer, so you may receive a lower payout but still have your car.
Consider Repair Costs: If you want to keep the car and it is drivable, check if you can get an estimate for repairs. You can present these findings to the insurance company to see if they would be willing to cover some of the repair costs instead of the total loss settlement, although this varies by policy and situation.
Get Everything in Writing: Whatever agreement or negotiation you reach, make sure to get it documented. Emails or written confirmations can help prevent any misunderstandings down the line.
Stay Calm: It can be frustrating dealing with insurance, but try to remain calm and clear in your communication. Preparation is key to a successful negotiation.
I hope this helps, and good luck getting the best outcome for your situation!