In many instances, motor vehicles can be repaired after an accident. At other times, the cost of making the repairs exceeds the market value of the vehicle. When this happens, the insurance provider is likely to offer to total the car for a fixed amount. In return, you surrender the vehicle to the provider. If you’re not sure about the amount offered, you have the right to seek a total loss appraisal Sacramento of your own. Here are some basic facts that you should know.
The Appraisal is Completely New
This new appraisal that you’re seeking is not based on anything that has been done up to that point. That means the appraiser does not need to see the results of the previous appraisal or even see the offer that the insurance company has prepared. For all intents and purposes, it’s a brand new situation.
This is important, since it ensures that the appraiser is not influenced in any way with whatever others have determined. The result is a purely objective appraisal that’s based on what the professional can tell about the condition of the car prior to the accident, the mileage, and other relevant factors. That will come in handy if the results are very different from the previous appraisal.
The Results May or May Not Confirm the Findings of the Original Appraisal
Keep in mind there are no guarantees about the outcome of this new appraisal. There is a chance that your appraiser will come to the same conclusions that the previous appraiser presented in the report to the insurance provider. If that’s the case, you have confirmation that the offer extended by the provider is the best possible one they could make under the circumstances.
At the same time, there may be significant differences between the two appraisals. For example, your appraiser may determine that the pre-accident value was higher than noted in the previous appraisal. When that’s the case, you may have grounds to negotiate a better offer from the insurance company.
Your Insurance Provider May See Things Your Way
Here’s something that may surprise you: the insurance provider may be willing to take a second look at the offer, based on the results of the total loss appraisal Sacramento that you had done. Why would they make this choice? One reason is that it may require less time and resources to settle the matter if they do so.
Another reason has to do with reputation. If the matter were to enter into litigation and the provider lost, the resulting damage to the company’s reputation may be significant. It might be better to go with the second appraisal and avoid that possibility.
The Appraisal Allows You to Make a More Informed Decision
Whatever the outcome, that second appraisal allows you access to information that makes it easier to decide what to do next. If the offer made by the insurance company is really the best you can expect to receive, then accepting it is an option. You may also decide to keep the vehicle and repair it yourself.
See the second appraisal as a way to provide more clarity about what to do. This is important under any circumstance, but it’s especially important when you have reasons to keep the car that may have to do with more than making a financial decision.
If you find yourself with a totaled vehicle and an offer that you’re not sure about, call a local appraiser and arrange to have the vehicle evaluated. It won’t take long until you have a better idea of what you should do.