What to Do After a Total Loss Auto Accident
It's what every motorist dreads tohear ' €œYour vehicle is a total loss. € Whether you were involved in asignificant auto accident and expected the worst, or you bumped into somethingwhich damaged an essential component of your vehicle's integrity, writing yourcar off can be stressful. To understand what you should do when handing atotal loss claim in your auto insurance in Renton, WA, read on.
The title is required to process atotal loss vehicle. Make sure you find this document and keep your autodocuments organized so that you can move forward with the settlement processquickly and efficiently.
A lienholder is a financialinstitution that has either leased a vehicle to you or given you money on loanto purchase the vehicle. The lienholder's information is important to gather asthey should know about the incident and how the vehicle has been written offbecause they have an insurable interest in the vehicle. When a vehicle isdeemed a total loss, the lienholder needs to be notified and they will providea €˜letter of guarantee' which will state what the current payoff is for theloan. If you have gap insurance, your coverage will help you pay for theremaining debt you owe.
Total loss auto accident can require asignificant amount of paperwork. An agreement needs to be reached on the payoutamount of the totaled vehicle. Be sure to mail out your documents as promptlyas possible so that the claims process can move forward quickly.
Be sure that you are working withreliable insurance professionals who have your best interest in mind. Are youready to find the right car insurance for your vehicle and needs?Contact the professionals at Humble & Davenport Insurance, servingRenton and neighboring cities of Washington for quality auto insurance coverage today.