Vehicle A Total Loss? Now what can you do?

Understanding Your Options

When your vehicle is declared a total loss after an accident, it can feel overwhelming. Bowers Law explains that insurance companies typically offer two paths: a cash settlement based on your vehicle’s depreciated value or a slightly reduced payout if you decide to retain the salvage. Factors such as repair costs, outstanding loans, and gap insurance all play a role in this decision.

Evaluating the Settlement

Each total loss situation is unique. Bowers Law breaks down the process—how insurers calculate a vehicle’s actual cash value, why they may discount the offer by 10–20%, and what it means to keep the salvage. In many cases, if you own your vehicle outright, taking the cash settlement might be the smarter move, especially when repairs could cost more than the payout.

Making the Right Decision

Beyond the numbers, it’s crucial to separate the vehicle’s value from any potential injury claims. With expert guidance from Bowers Law, you can navigate these complex factors and determine the option that best ensures you’re made whole, financially and legally.

Contact Bowers Law

If your vehicle has been deemed a total loss, don’t face the insurance maze alone. Call Bowers Law at (410) 885-6200 for expert legal advice and representation. Let us help you secure the compensation you deserve.