Why You Need A Total Loss Appraiser When Negotiating A Car Accident Settlement
by Kenneth Pierce
If you are involved in an auto accident, and your vehicle is costly, you might wonder what you should do to pay for the damages or replace the car. One crucial component of your legal case is determining the vehicle's fair market value to determine how much you would be entitled to in compensation. A total loss appraiser might be used in this context.
The Role of a Total Loss Appraiser
For an auto accident case, a total loss appraiser is a professional who would give their opinion on how much a vehicle would be worth. The cost would be determined by the value of your car, how much mileage it has, and its condition.
You will need an expert witness because you must accurately assess how much your car is worth to maximize your compensation. Once the total loss appraiser can determine how much your vehicle is worth, you may begin filing a claim with the auto insurance provider of the at-fault driver.
How to Ask for Money from the At-Fault Party
Typically, you will seek compensation from the insurance provider by creating a demand letter. This tool is effective for negotiating a settlement to obtain the compensation you deserve.
You have the option of writing a demand letter yourself. You will need to include the date of the auto accident, the names and contact information of everyone involved in the accident, a complete description of your accident, the full extent of your injuries and damages, how much you are seeking in compensation, and what the deadline would be for making a payment.
What to Expect from a Total Loss Appraiser
A total loss appraiser can be very useful throughout this process because you must calculate the full extent of your damages before pursuing a settlement. You cannot go back later and ask for more money after settling. Therefore, you will need to attach any appraisals of the damage done to your vehicle as well as police reports, medical documents, and witness statements.
The total loss appraiser will arrive and inspect your car so they can document any damage. They will research similar vehicles and the current market value. They will help you calculate the fair market value of your car. They will also create a report that will include all of their findings. This objective report you can use regardless of whether you'll settle your case or file a lawsuit.
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About Me
As the sister of a law student, I thought that I could handle my own personal injury case when I was hit by a vehicle as I was walking across the street. Luckily, the car wasn't going very fast – but I did end up with a contusion and a broken leg. Turns out the process wasn't easy and I ended up hiring a lawyer. I learned a lot about the kind of information needed to win a personal injury case such as the kind of evidence that is effective and the types of documentation needed from the insurance company, employers, and even witnesses that were at the scene. My name is Rebecca, and I created this website to help guide you through your personal injury case. There is no reason for you to feel alone throughout the process, and I hope my insight helps you feel more empowered with your decision making.
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