Getting into a car accident in Connecticut is never a fun situation. You may have to deal with injuries and the stress of being involved in such a situation. You also have to think about your vehicle. Regardless of how severe the accident was, there is always a chance your insurance company will consider it a total loss.
This is often referred to as a car being totaled. What it means, according to the State of Connecticut Insurance Department, is that your insurance company feels the cost to repair your vehicle exceeds the overall value of your vehicle. For example, if the assessed value of your vehicle is $2,000 and the estimated cost for repairing it is $2,500, your insurance company would consider it a total loss.
Insurance companies do this to save money. They would rather pay out the $2,000 for the loss of your vehicle than pay $2,500 to fix it.
The value of your vehicle is something you need to discuss with your insurance company. It should be willing to provide you with details on how it came up with the figure. Insurance companies are required at minimum to appraise your vehicle based on average retail values listed in the NADA Used Car Guide. However, other factors may also come into play.
Typically, when the insurance company labels your vehicle as a total loss, it will take the vehicle. However, you may have an option to keep it. The insurer would pay you the amount of the totaled value only and may reduce that by the salvage value, or the amount it would get from salvaging your vehicle. This information is for education and is not legal advice.