We hear from many consumers who are trying to resolve their auto total loss claims with their own insurer or another insurer. A total loss is when a vehicle is in a collision and the insurance company determines it would cost more than the vehicle is worth to repair it, so they �total� it.
Once an insurer declares a vehicle a total loss, they owe you the retail market value of your car, plus sales tax. But how do you know if the amount the insurer offers you is a reasonable estimate of the retail market value? Many consumers don�t know they have the right to, and should, ask the insurance company for a total loss valuation report, which shows the comparable auto data the insurer used to calculate your vehicle�s value. Most insurance companies don�t automatically provide the report to consumers and there�s no requirement that they provide it without being asked.
Insurers can either give you cash for your vehicle�s retail value or offer to replace your vehicle with a comparable vehicle in your area.
Read more about auto total loss on our website. Questions? You can contact our consumer advocates online or at 1-800-562-6900.