Loss Of Use Claim California- Supporting You In Challenging Time!
An accident is one of the most unfortunate incidents in a person’s life. This unexpected event not only brings physical injuries but mental and emotional trauma as well. First and foremost, the focus is on recovering from physical injuries, but accidents often cause financial setbacks that are not easy for everyone to overcome.
Accidents not only cause damage to the vehicle but also invite many added expenses in your life. Not being able to use your vehicle is quite disturbing and uncomfortable. Plus, you have to bear the charges for using the rented mode of transportation.
Understanding these inconveniences of people, the California law provides several aids to help and support people during such challenging times. Loss Of Use Claim California is one such provision.
What is Loss Of Use Claim California?
Loss of use claim enables the California residents to avail compensation for extra expenses they have borne due to the inability to use their vehicle. The not-at-fault party in an accident is entitled to this compensation. You can file for the claim to recover:
Cost of rental car expenses
Fees for using public transport
Expenses for using alternative mode of transport
For the time you are not able to use your vehicle as it is being repaired or replaced.
However, there must be a few cases, where the accident is so severe that the vehicle can’t be repaired or replaced. Such cases are known as total loss.
What is a total loss and how to it is determined?
When the amount of repairing your vehicle exceeds its original value (worth before the accident), in such case the vehicle is declared as a total loss. This is when California Total Loss Formula comes into the picture.
Cost of Repairs + Salvage Value ≥ Actual Cash Value (ACV)
Through this formula, the insurer determines whether is vehicle is a “total loss” or not. Once the car qualifies for total loss, the insurer pays you the market value of the vehicle instead of covering the repair costs.
What changes you can expect when your vehicle is considered a total loss? Here’s what:
In this scenario, you don’t receive compensation for the expenses you had to incur while waiting for your vehicle to get replaced or repaired. But, the insurance company pays for the actual cash value (ACV) of the car before the accident. With the help of the following factor, the original value of your vehicle is determined:
Age of the car
How many kilometers has it covered
Condition
Loan or lease- deductions will be made if you are still in the process of paying the loan taken to buy the car. Or if you have taken a loan against the car (keeping it as collateral).
Get started with a reputable team of professionals to successfully filing and clearing for Loss Of Use Claim California!
Filing a loss of use claim can be overwhelming for anyone who is new to the entire. Moreover, it might feel like an added burden, since you are already going through a lot because of the accidents.
Contact a dependable team of professionals provides you peace of mind that your case is in responsible hands.