Agent, Rural Mutual Insurance Co., Union Grove, WI
If you are in an automobile accident and the cost to repair your vehicle meets or exceeds a certain percentage of the vehicle's value, your insurance carrier will declare the vehicle a total loss. When an insurance carrier declares a vehicle a total loss, your carrier is supposed to pay the insured what the vehicle was worth at the time of the accident, less any applicable deductibles. An insurance carrier will utilize one or more sources when trying to determine the value of a totaled vehicle. State insurance regulations mandate how an insurance company settles total loss claims.
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If you are in an automobile accident and the cost to repair your vehicle meets or exceeds a certain percentage of the vehicle's value, your insurance carrier will declare the vehicle a total loss. When an insurance carrier declares a vehicle a total loss, your carrier is supposed to pay the insured what the vehicle was worth at the time of the accident, less any applicable deductibles. An insurance carrier will utilize one or more sources when trying to determine the value of a totaled vehicle. State insurance regulations mandate how an insurance company settles total loss claims.