Total Vehicle Loss in Ohio

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Total Vehicle Loss in Ohio

More than 55,000 car accidents occurred in Ohio in 2020 according to the Ohio State Highway Patrol.

Most car accidents result in damage to the vehicles involved and if the damage is severe enough, a vehicle could be declared a total loss.  Before insurance companies declare a total vehicle loss in Ohio, they must consider the pre-accident cash value of the vehicle as well as the cost of repairs and salvage value of the car in its post-accident state.

In Ohio, a vehicle is declared a total loss if the cash value of the vehicle right before the accident is equal to or less than the cost of repairs plus the salvage value of the vehicle.  When determining the pre-accident cash value of a vehicle, insurance companies may consider factors such as the year, make, model, mileage, condition, and the value of vehicles of a similar make, model, year, and body type.  If the insurance companies determine that the cost of repairs and salvage value combine to be the same or more than the pre-accident cash value, they will declare your vehicle a total loss.

At Anderson + Wanca, we can assist those who need to file a total vehicle loss insurance claim in Ohio.  Insurance companies must consider more than just the cash value of your vehicle when determining the amount for your total vehicle loss settlement, they must also consider fees and applicable taxes.  Our attorneys will make sure you receive a fair settlement for your vehicle loss by reviewing your settlement and all related documents.

Total Vehicle Loss in Ohio

It is the responsibility of the drivers involved in an accident to file an insurance claim right away.  The insurance providers will determine the cost of repairs and scrap value of your vehicle as well as the pre-accident cash value, and they may consult resources such as auto body repair shops and sales data.

If your vehicle is declared a total loss, you will receive your settlement from your insurance provider or the insurance company of the at-fault driver.  The settlement should include the pre-accident cash value of your car as well as applicable taxes and fees that may affect the total settlement amount.

What Happens When Your Vehicle is Considered a Total Loss?

The insurance company will first determine the pre-accident cash value of your vehicle based on the make, model, year, and condition of your vehicle.  They will then get an estimate for the cost of repairs and determine the scrap value of your vehicle.  If the cash value of your vehicle pre-accident is equal to or less than the salvage value plus the cost of repairs, the insurance company will declare a total vehicle loss.

In addition to the cash value of your vehicle, insurance companies must also factor in the following taxes and fees:

  • License plate transfer
  • Title transfer
  • Vehicle registration
  • Sales tax
  • Other mandatory Ohio fees

The amount of your settlement may be affected if the insurance company does not account for the applicable taxes and fees.

Total Vehicle Loss Claims with Anderson + Wanca

At Anderson + Wanca, our attorneys can help with your vehicle loss claim in the state of Ohio.  We will ensure that you get a fair settlement in accordance with all applicable laws. 

To ensure that you get a fair settlement, our attorneys will review your insurance policy, settlement documents, replacement vehicle invoices, and the applicable taxes and fees.  If you are not provided with a fair settlement, we can negotiate on your behalf to ensure that the amount you are awarded is fair.

Our attorneys at Anderson + Wanca are available at (888) 505-0953 and you can also reach out by email at insurance@andersonwanca.com.

We work with licensed attorneys throughout the U.S.

Total Vehicle Loss

If you have sustained a total vehicle loss in the state of Arizona, we would be happy to review your settlement documents, your insurance policy, and the invoice for your replacement vehicle to determine if you are owed additional money.

Contact us today by submitting the form below.