The Likelihood of Total Loss Truck Accidents

The Likelihood of Total Loss Truck Accidents

The Likelihood of Total Loss Truck Accidents

Truck accidents are among the most lethal collisions one can face on the roadway, claiming the lives of thousands of motorists a year while harboring an increased risk of serious injuries and totaled vehicles in the process. If you’ve experienced a truck accident yourself, odds are high that you may have to consider the possibility of a total loss assessment from an insurance company, so you should familiarize yourself with the full implications of that designation.

What a Total Loss Accident Means

Vehicles are totaled by trucks more often than one might think, largely due to how total losses are calculated in Arizona and in many other states. Auto insurers in Arizona will apply what’s known as a total loss formula:

  • The cost to repair the vehicle will be appraised, which will then be added to its scrap value if salvaged.
  • That sum is compared to the “actual cash value”/ original resale value of your vehicle (based on Kelly Blue Book and local listings for similar models).
  • If the sum of repairs and salvage exceed the value of the car, it’ll be written off as a total loss, meaning that it’ll be more profitable to scrap the vehicle rather than try to fix it.

If your insurer does inform you that your vehicle was totaled, you have significantly more say in what comes next than most tend to imagine. You’ll generally have three options in the wake of a total loss designation:

  • If you choose to accept the insurer’s decision, they’ll cut you a check equivalent to the actual cash value of your vehicle, minus your deductible, which will pay off the remainder of your lease first.
  • Alternatively, you can dispute the insurer’s evaluation of your car, either in an effort to increase the calculated actual cash value or the initial designation of whether or not your vehicle is a total loss. 
  • If you’d rather keep the vehicle, you don’t have to turn it over. Doing so will still net you a check for the actual cash value of the vehicle, but minus its scrap value. You’ll get to keep the car this way, but will receive no help repairing it and will have to deal with a “salvage” title attached to the car which will make it difficult to drive and insure.

Arizona Truck Accidents and Total Losses

Large truck accidents and total loss designations go hand-in-hand as a matter of fact, as trucks present a variety of unique dangers which render them all the more dangerous in a crash:

  • The excessive mass of a truck, combined with its inability to slow down quickly, results in disproportionate damage to comparatively lightweight vehicles
  • Larger vehicles can cause a variety of uniquely dangerous truck crashes, such as underrides, which can critically damage cars in novel, yet catastrophic ways

If your car has been totaled in a truck accident, your claim is inherently worth an extremely significant amount of money, making it all the more important for you to consult a legal professional. Insurance adjusters will be doing their best to devalue and deny your claim overall, but by calling ELG at (623) 877-3600, you can level the playing field with an Arizona truck accident attorney.