Who should handle property damage? Generally, it is better for you to handle your own property damage claim because you know your schedule best. You need to contact the insurance company and set an appointment with them to look at your car. After the insurance company looks at your car, they will give you an estimate for repairs or for replacement. This estimate may change due to additional damage discovered during the repair process.

How long will this take? Generally, it takes about two to four (2-4) weeks before the insurance will give you an estimate for your property damage. However, the insurance company is allowed to take up to thirty (30) days to investigate your claim and determine whether or not they are going to pay your claim.

What is Repairable compared to Totaled? If your car is repairable, that means that it is cheaper to fix your vehicle than replace it. If your vehicle is totaled, that means that it is cheaper to replace your vehicle than to repair it. The replacement value of your vehicle is based upon Fair Market Value.

What is Fair Market Value? Basically, it is the amount of money you could have sold your vehicle for if you had placed an ad in your local newspaper. Fair Market Value is not the Blue Book value, although you can use the Blue Book to give you an idea of how much your car is worth.

What if I made Improvements to my vehicle? The insurance company will consider the improvements you made to your vehicle as long as you provide them with the receipts.

What about my Extended Warranties & Life Policies? If you bought Extended Warranties and/or a Life Policy, you are entitled to receive money for the unused portions.

What is salvage value? It is the value of the parts remaining on your car if your car is totaled. If your vehicle is totaled and you want to keep it, the value of the parts will be deducted from your settlement amount because the insurance company usually sells totaled vehicles to junk yards for salvage value.

Will I get my Deductible back? If you use your own Collision Insurance and the Wrong Doer's insurance pays your insurance company back in full, you will get your deductible back from your own insurance company. Sometimes, you can get the deductible from the Wrong Doer's insurance company directly.

What if there is a Balance? If the loan on your vehicle is larger than the Fair Market Value of your vehicle, you may be left with a balance. You should contact your finance company to see if they will write off the remainder or roll over the remainder into a new loan. You are still responsible for making your loan payments while you are negotiating with your finance company.

What about a rental car? See Rental Reimbursement under "Insurance in a Nutshell."

*(Note: This document is not intended to provide complete property damage information)