I totaled my car. What next?

In life there are unfortunate situations that happen when you expect the least. One of these situations is without doubt having a serious car accident that has majorly damaged your car. Thank God you are OK and now you have to think about the car.

The first thing you need to do after having a serious accident is a meeting with your insurance agent. He will be able to tell you if your car is a total wreck or if it is going to be repaired. Usually you don't have a word in this because it depends on calculations that take in to consideration the current value of the car and the cost of the repairing operations.

If your car is classified by the insurance company as totaled, you will receive its current value, minus the deductibles agreed in the contract. In most cases the insurance company takes over the wreck and it tries to sell it in order to recover a part of the money, but know that there are cases when you get the wreck and decide what to do with it.

But what if you don't want the insurance company to get the wreck? You can discuss this possibility with one of their people and probably you can agree on some terms. If not, there is always the chance of participating in the auction and bidding for it, but you can imagine that the chances of getting it back are not very high.