Can I decide whether to have my car repaired or replaced?
The insurance company normally has the option to either repair or replace your car. If it costs less to replace the car than to repair it, the insurance company will declare the vehicle a "total loss." At that point the insurance company buys your car for its market value. If you want to keep your wrecked car, you can purchase it back from the insurance company for its salvage value, which gets deducted from your settlement. If the insurance company chooses to repair your car rather than replace it, and you are concerned about the safety of the vehicle, contact our office to discuss your options.
Will the repair shop charge me for storage?
The insurance company of the person who caused the accident will pay towing and storage costs, according to what is reasonable in your area. If the vehicle is declared a total loss, the insurance company will pay to have it moved to a salvage or wrecking yard. If you do not allow the company to move your vehicle, you will be liable for any storage or towing fees.
Who pays the bank loan if my vehicle is financed?
You are still liable for any loans on the vehicle. If the fair market value of your vehicle is less than the outstanding loan, you are still required to pay the entire amount of the loan.
Do I get a rental car or truck while my vehicle is being repaired?
If you want the insurance company to pay for the cost of a rental while your vehicle is being repaired or replaced, then payment depends on several factors. If you caused the accident, see if your own insurance coverage includes rental vehicles. Unless specifically stated, many policies do not include rental vehicles. If the other driver was at fault, then you can expect his or her insurance company to pay for your rental.
I just paid for my license plates. Do I have to pay for new ones?
The insurance company should pay the prorated amount of any registration fees that are unused, as well as transfer fees for the new registrations.
If you or a loved one has been involved in a car or motorcycle accident in the Tulsa area or elsewhere throughout Oklahoma, contact the Law Offices of Jeff Martin. A car and motorcycle accident lawyer can help you obtain the compensation you deserve. Remember, your initial consultation is free, and you don't pay us unless we win. Call us today in Tulsa area at 728-8888 or use our toll free number 800-980-9205.
