WHAT DOES IT MEAN WHEN A CAR IS TOTALED? We frequently get calls from people whose cars were totaled in a wreck that was not their fault. Unfortunately, we have to tell them that the other driver’s insurance is only We hear about people being involved liable for the fair market value of the totaled in accidents, and vehicles being totaled. For example, we’ve had a case where a car, and a rental car for a few days while they Hopefully this hasn’t happened to you. But if heavily damaged vehicle required $12,000 shop for a replacement vehicle. You cannot it has, or if it does, here’s what totaled means. in repairs, but because it was a late-model recover additional damages from an accident vehicle with a fair market value of more than caused by another driver’s fault, unless you In Kentucky, the determination of whether $20,000, that vehicle was not considered have also been injured from the accident. If a vehicle is totaled is based on a statute, totaled. Conversely, repair costs of only so, it is important to seek medical attention KRS 186A.520. This statute basically $2,000 for minor damage might be enough right away. Such injuries can get worse in the states that a vehicle is totaled if the cost of to total out a car that is 10 to 15 years old, days following an accident if left untreated. repairs after an accident exceeds 75% of depending on the make and model. Even during the current pandemic, there are the retail value of the vehicle as set forth a number of accident injury clinics in this in the most current edition of the National If you have an older car that is totaled, and area where you can get an appointment if Automobile Dealers Association (NADA) you still have collision insurance that will you cannot see your regular doctor, or if you Guides. There is also a regulation, 806 KAR pay for the loss, or if an accident is the fault have concerns about going to the emergency 12:095, Section 7, that allows insurers to of another driver whose insurance will pay room or an urgent-care facility. Your own use “any source for determining statistically for the loss, the problem is that it will cost automobile insurance, which is called novalid fair market values” besides the NADA much more to buy a replacement vehicle fault insurance, will cover your treatment Guides, such as appraisal services, which are than the fair market value you will receive expenses up to $10,000, or more if you have commonly used. for the totaled older car. additional coverage. Writer / Brad Harville, Owner and Managing Partner, Harville Law Offices Photography Provided
If you think through the above definition of totaled, you will realize that it takes a lot less damage to total older vehicles, which have lower fair market value than newer ones.
18 / OCTOBER 2020
