Total Loss Situation
I recently got into a minor accident with my 2019 Nissan Versa, where I rear-ended another vehicle. Thankfully, it wasn’t a severe collision—the airbags didn’t even deploy because I was traveling at a relatively low speed.
Today, I heard back from the appraiser, and they declared it a total loss. Strangely enough, the car runs and drives perfectly fine, with no mechanical damage. The only issues are cosmetic—the bumper, grille, and fenders were pushed back a bit, but even the hood is unharmed.
I’m looking for advice on what steps to take next. If the vehicle’s value is close to the repair costs, can I pay the deductible and cover the remaining amount after insurance kicks in? Just a heads up, I’m located in Tennessee.
I’m sorry to hear about your accident! It sounds frustrating, especially since it wasn’t a severe collision. In many cases, insurance companies will declare a vehicle a total loss if the cost to repair it exceeds a certain percentage of its value, which may be what happened here.
In Tennessee, if the insurance company declares your vehicle a total loss, they should give you the fair market value of your car before the accident. If you disagree with their assessment of the value, you can provide evidence (such as recent sales of similar vehicles) to negotiate for a higher payout.
Regarding your question about paying the deductible and the difference owed, typically, once a vehicle is deemed a total loss, you’ll receive a settlement from the insurance company. If you believe the repair costs are close to the value of the car, you could potentially ask the insurer if they’ll allow you to keep the vehicle and pay for the repairs yourself. However, this generally depends on the specific policies of your insurance company and the state regulations.
It’s best to clarify these options with your insurance adjuster, as they can provide guidance specific to your policy and situation. Good luck, and I hope you find a resolution that works for you!