Do I have to agree if the insurance company says my vehicle is totaled?
Under Texas law, the responsible insurance company has a choice: it can either pay for the vehicle to be repaired, or declare the vehicle to be totaled and pay the owner for the vehicle's fair market value. Insurance companies generally choose the cheaper option. The vehicle owner's preference in this decision is generally not a factor. However, in many cases, the insurance company will agree that the vehicle owner can keep the vehicle, even if it is totaled. In such cases, the insurance company deducts the salvage value of the vehicle, usually several hundred dollars, from the amount that the vehicle owner would otherwise have been paid. This option is sometimes preferable when the vehicle owner believes that he or she can have the vehicle repaired, and wants to continue to use the vehicle.
If you are injured in an automobile accident you need to contact an experienced accident attorney in Texas. Contact us today.