April 17, 2024 Car Accidents
When a car accident occurs, the aftermath can result in a host of damages, including harm to your vehicle. This type of property damage ranges from minor scratches to total destruction of the vehicle. If the damage is so severe that the vehicle is considered a total loss, you may wonder what your options are for moving forward. If your car is totaled in Nevada, here is what you need to know about your options for replacement.
A vehicle is considered totaled when the cost of repairs exceeds the value of the car or reaches a specific threshold defined by state laws or insurance policy terms. In Nevada, this generally means the vehicle’s repair costs are 65% or more than the actual cash value of the vehicle at the time of the accident. When a car is totaled, it is deemed too damaged to be economically worthwhile to repair, leading insurers to write it off as a total loss.
Your insurance company may help cover the cost of your totaled vehicle, depending on the coverage that you have in place. In Nevada, if you possess only the state’s minimum required liability insurance, you are covered for damage you cause to others but not for damage to your own vehicle if you are at fault for the collision.
On the other hand, if you have comprehensive and collision coverage, your insurer will cover the damages to your car up to the limit of your policy, minus any deductible. For instance, if your car has sustained $5,000 worth of damage and your policy limit is $10,000, your insurer will cover the full repair cost after deducting the deductible. However, if damages are $15,000 and your policy limit is $10,000, your insurance will pay out only up to the $10,000 policy limit, again minus the deductible.
Because Nevada is an at-fault state, you can seek compensation for a totaled vehicle from the other driver if they were responsible for the accident. This means that you can file a claim against the other driver’s insurance for your vehicle’s pre-accident value up to their coverage limit.
However, if your damages exceed what the other party’s insurance covers, you may need to pursue additional legal action to recover the full value of your losses. This typically involves filing a personal injury lawsuit in civil court against the at-fault driver. If the other driver is uninsured or underinsured, you would need to file a claim under your collision coverage.
Dealing with a totaled vehicle after an accident is a complex process that involves insurance negotiations and, potentially, legal challenges. To ensure that you receive fair compensation for your losses, especially when another party is at fault, it is important to work with a lawyer with expertise in car accident claims.
A Las Vegas car accident attorney can advise you on your legal options. They can also help identify the optimal pathway to secure fair compensation for your totaled vehicle and any other damages that you incur. After your collision, schedule a free consultation to explore your next steps.
