Experiencing an auto collision is never an exciting endeavor. Even in a best-case scenario where no injuries are suffered, you could end up fighting with insurance companies over repair costs. This is particularly problematic if your vehicle is a total loss. You may find it difficult to get fair compensation in such instances. That’s why it’s important to know what to do if your car is totaled in an accident in Colorado.

Is My Car Considered a Total Loss in Colorado?

Before trying to get your vehicle replaced after a collision, it’s important to recognize whether the damages are truly a total loss. The answer to this question can vary by location. For instance, a car accident in Denver may have a very different outcome than one in Atlanta. This is all thanks to state laws dictating what counts as a total loss.

In Colorado, these calculations are made using a total loss threshold of 100%. This means that a vehicle is considered totaled if its salvage value plus necessary repair costs would exceed 100% of an auto’s market value. For instance, combining a salvage value of $5,000 and repair costs of $15,000 (i.e., $20,000) would make a car whose market value is only $19,000 “totaled.”

Steps To Take if Your Car Is Totaled

If you’re still reading, you’re likely wondering about your options when your car is totaled in an accident. In many cases — particularly in non-injury collisions — the answer is as simple as filing an insurance claim. A negligent driver who caused your accident will be liable for damages, and this means their insurance company will be on the hook.

If you were at fault in an accident, your vehicle is only covered if you have adequate insurance. However, it’s important to remember that there are often caps on property damage coverage regardless of who’s at fault. In Colorado, only $15,000 worth of this insurance is required to drive. Since the average used vehicle in our state costs nearly $35,000, a discrepancy may exist.

Put simply, a settlement with a negligent driver’s insurance company may not be enough. This could make the right course of action to contact a Denver personal injury lawyer — even if you didn’t suffer significant injuries.

What if You Suffered Injuries in Your Auto Accident?

If you suffered injuries due to someone’s negligence, knowing what to do after your car is totaled in an accident may be the least of your worries. Sure, getting your vehicle repaired is important — but you may also end up facing pain and suffering, medical expenses, and lost wages on top of property damage. In these situations, a visit to a local law firm may be in your best interest.

That’s because your economic and non-economic losses will exceed any amount you may be able to recover for a totaled vehicle. With experienced legal representation, you can learn what to do when your vehicle is totaled and how to move forward when seeking additional compensation. Our law firm may be able to help. Contact us today to learn more.