How to negotiate to get the most $$ from your totaled vehicle

Did an insurance company say your vehicle is a TOTAL LOSS? Before you do anything, WATCH this video to ensure you are getting paid everything the insurance companies owe you. Attorney Todd Farmer of Farmer & Wright, PLLC tells you WHAT you need to ask for, and HOW you should ask.

0:43 - Don't rush your settlement with the insurance company
1:05 - Make sure you are speaking to the RIGHT insurance company vs. YOUR insurance company
1:28 - Research similar vehicles with the same mileage in your area.
2:06 - Understand the policy on what the insurance company will pay you. If after-market parts is included, make sure you get paid for those.
2:35 - Give facts and stay firm with the insurance adjustor.

If you are looking for legal assistance regarding a recent auto accident, Farmer & Wright can assist Kentucky residents. Call us at 888-530-4003.

The information provided in this video is for informational purposes only and should not be considered legal advice on any subject matter. You should not act or refrain from acting based on any content mentioned without seeking legal or other professional advice in your area. The hosts remove themselves all liability for actions you take or fail to take based on any content in this broadcast. (Advertising Material)

[takishabaker]

What do you do if your not at fault but the at fault partie's insurance company is not taking liability?

[Bststv]

Thank you for this video! I am currently in hard negotiation with at fault’s insurance company (AAA) for total loss,
If it is with at faults insurance, i am entitled for compensation for factory accessories and premium audio that were installed after i took the ownership of the car right? They are all have been on the car less than 10months

Thank you again

[salamiali]

I'm from NC and my car got hit while it was parked in NYC. The other driver's insurance trying to lowball me. I don't know if I take them to a court or accept the offer. Also if I take them to court will the court be in the state of NY or NC?

[surajmathew]

Is it ok to remove factory fits like Roof rails, hitch receiver etc. before moved to salvage yard if it gets totalled and plan is get a similar model car in future?

[andrelacerda]

If you reside in Florida, can you add taxes, registration and tags fees, dealership fees, and any other states fee to the settlement?

[TJ-]

At what point if the total Los process should one cancel his insurance on that vehicle?

[kierand]

my car got totaled 2 days after I got it. are we able to use the purchase price to negotiate

[EddieLeal]

DISCLAIMER! I AM NOT AN ATTORNEY! That said, do your due diligence when seeking legal counsel. There are sketchy attorneys out there folks.

Every state has its own insurance laws. Some states are "no fault" states. No-fault laws do not apply to property damage or other drivers' expenses. You can get other types of insurance for those things, even in no-fault states.

In "no fault" states insurance pays for your medical bills and related expenses if you are injured in a car accident, REGARDLESS of who caused the wreck. Benefits: Drivers can have their medical claims paid quickly after an accident, since fault doesn’t matter. Insurers spend less money on litigation and pass the savings to customers. The PIP required in no-fault states covers other expenses in addition to medical bills, including child care and household services.



What Does No-Fault Insurance Cover?
Medical expenses
Funeral expenses
Lost income
Child care expenses
Survivors’ loss
Household services

Of the 12 states with no-fault laws, nine follow the standard model for no-fault insurance, while three make no-fault insurance optional. Additionally, there are eight at-fault states that offer “add-on” no-fault insurance, which gives drivers no-fault coverage without the strict requirements for filing a lawsuit.

The alternative to “no-fault” insurance laws is a “tort” system of insurance for personal injury claims. In “tort” states, the at-fault driver and their insurance company are responsible for compensating individuals that they injure in a car accident. There are also no restrictions on the right to sue after an accident in tort states, even if a motorist chooses to purchase PIP insurance.