Safety costs a lot don’t let it cost you if you’re injuredPosted on: May 10, 2017 at 1:45 pm
“Don’t let it cost you if you’re injured and your car is totaled because of someone else’s negligence.”
Do you own a newer car? Did you finance it? Industry publications are reporting that a lot of newer cars, because of all the safety features, are more likely to be declared a total loss because of the expense of replacing all that safety equipment.
It’s great news that cars are getting safer and safer, but one thing that often troubles us when a person has suffered personal injuries from a car crash is that while they may be physically hurt due to the fault of another party, their car needs to be replaced and they’re “upside down” on their financing.
An insurance company only has to pay the fair market value of the vehicle- which means that they only have to pay what it costs to get that same vehicle replaced. As many people know, your car depreciates the most in the first years of ownership, so if you get into a crash when your car is depreciating the most and it’s declared a total loss, you may end up owing money for a car you can no longer drive.
When you buy a car and you’re financing a lot of the purchase, think about getting Guaranteed Auto Protection (GAP) insurance coverage from your own automobile insurance company or from the dealership. If you’re hurt in a crash and you’re dealing with the physical pains from the crash as well as the economic pains, give us a 888-355-3425 or fill our contact form.
Useful link: Totaled Cars
News Article || Tags: auto insurance, personal injury, personal injury attorneys, personal injury lawyers, totaled cars