1. Filing a Police Report: If the accident that resulted in your car being totaled involved another vehicle, you must file a police report. Notify the authorities and wait for them to arrive at the scene. The report will serve as the official record of the accident.
2. Contacting Your Insurance Company: Reach out to your auto insurance company and inform them about the accident and the total loss of your vehicle. Provide them with the details of the accident and the necessary documentation, such as the police report and any relevant photographs.
3. Property Damage Liability: Liability coverage typically only provides financial protection for damage caused by your vehicle to other parties' property, such as vehicles or property damaged in the accident. Since you only have liability insurance, it will not cover the repairs or replacement of your own car.
4. Third-Party Claims: If the accident was caused by another party's negligence, you or your insurer may explore the option of filing a third-party insurance claim. This involves pursuing a claim against the at-fault driver's insurance company.
5. Legal Assistance: If the at-fault driver is not cooperative, their insurance company denies your claim, or you feel that you are not being compensated fairly, it may be necessary to consult a legal professional who can guide you through the process.
6. Loss Settlement: If you are determined to be the at-fault party and have no collision or comprehensive coverage, the liable party's insurance company will typically provide you with the actual cash value (ACV) of your totaled car. This value is based on the car's condition, mileage, and market value before the accident.
7. Salvage or Disposal: In most cases, the totaled vehicle will be considered salvage. You will need to decide whether to keep it or have it towed and possibly sold to a salvage yard. Any salvage value will be deducted from the ACV when determining the settlement amount.
8. Future Transportation Needs: Since your car is totaled and you have limited coverage, you must consider how you will meet your transportation needs in the future. This may involve borrowing a car, utilizing public transportation, renting a vehicle, or exploring affordable used car options.
It is important to remember that the process of dealing with a totaled car and liability-only insurance can vary based on your region and specific insurance policies. It is crucial to communicate promptly and provide all necessary information to your insurance company. If there is any uncertainty about the process or your rights, seeking professional legal advice can be beneficial.
