How to Negotiate a Total Loss Insurance Claim

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When negotiating a total loss insurance claim, it's important to have already filed the report immediately after the accident. Discover how a total loss settlement is up to a claims adjuster with information from a licensed insurance agent in this free video on insurance agents and insurance companies.

Part of the Video Series: Insurance Agents
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Video Transcript

Hi my name is Doug Leavy and I'm the principle owner and agent of Strategic Insurance Services located in Clearwater, Florida and I'm going to talk to you today about how to negotiate a total loss settlement on an auto claim. One of the most important things is if you are in an accident to immediately file the report. Really the first thing you should be doing if you are in an accident is to call the police. After that you would want to make sure you call in your claim to either your insurance carrier or to your insurance agent and it is important that this process begins right away. After that is started a claims adjuster will be in touch with you and they will begin to work on your claim. In terms of negotiating a total loss settlement this is really something that is going to be up to the claims adjuster and also the body shop. What the total loss refers to is that the car is unusable that it was literally totaled and cannot be repaired to be driven again. If in fact this is the case what would happen then is you would be settling with the insurance company based on the actual cash value of what the vehicle is worth today. That is usually a value that is going to be determined by things like the Kelly Blue Book values and the NADA values. My name is Doug Leavy with Strategic Insurance Services in Clearwater, Florida. Come experience a world of difference.

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