We get it. You love your car! So after you get into an accident and find out that the insurance company wants to total it, you’re thinking a lot of things: But it was so young! But the damage was so minor! Why oh why can’t they just repair the damage? Why is my insurance company totaling my car? Accident of two cars on a highway How does an insurance company decide to total a car? It is common belief that a car becomes a total loss when the cost to repair it is greater than its value. But it’s a bit trickier than that. Most auto policies agree to pay you either the actual cash value of your car or the cost to restore your car to its pre-accident condition, whichever is less. Actual cash value (ACV) is the “fair-market value” of your car immediately before the accident, taking into account its age, use, condition, etc. Another way to think of ACV is as the price a reasonable person would pay for the car had it not been in an...
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If you’ve ever hit a bad pothole— and who hasn’t? —you’ve probably wondered if any damage to your car would be covered by your auto insurance policy. Turns out, you might be able to use your collision coverage to pay for that damage…but you might not want to. First, understand that most policies will only cover pothole damage to the vehicle itself—such as the wheel, bumper or fender—and not damage just to the tires. You also need to consider how the amount of the damage compares to the deductible you would have to pay under collision coverage, which typically ranges from $250 to $1,000. If the damage to your car is less than your deductible, you might want to just pay for the damage yourself and avoid the claim process altogether. SafeAuto or your own insurance company is prepared to help you make those decisions and work with you if you do decide to file a claim. Am I at fault if I hit a pothole I couldn’t avoid? For collision coverage, fault plays no role in determinin...
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