After an Accident: Repair or Replace?

A car accident that causes major damage or “totals” your car is a very stressful experience that is often difficult to recover from. Unfortunately, you may have a series of financial and legal matters to settle before you can completely leave the incident behind. One decision that some people struggle with after an accident is the choice between repairing their cars or selling and replacing them.

Having sufficient coverage from a reliable auto insurance company can be greatly reassuring after a car crash. If you are looking for better coverage at an affordable price, Insure on the Spot can make your search much easier. To learn about a variety of Chicago car insurance policies that may benefit you, call us today at 773-202-5060.

Factors to Consider

When faced with the choice to fix a badly damaged car, or just let your insurance company sell it to a salvage yard, there are a few different factors to consider. You will need to think about:

• Your insurance company’s decision. Of course, if your car is worth more being sold for parts than it would cost to repair it, that is likely what your insurance provider will want to do. If you are completely dedicated to the idea of keeping your car, your settlement will be reduced by the amount the company could have gotten by selling it. This can mean a significant reduction in the amount you will get from them.
• Safety. Depending on the details of your insurance policy, your car may not be replaced with new parts. Even if it is, many people have concerns about the safety of a vehicle that has been majorly damaged in an accident.
• Resale value. If you would like to repair your car and resell it, keep in mind that its value may be greatly diminished because it has been in an accident. Again, you may be able to get much more money to put towards a new car by selling your old one for parts.

Making decisions like this after a serious accident can be far more difficult if you do not have the support of a dedicated car insurance provider. If you are not satisfied with your current policy, our Chicagoland auto insurance agents can help you review alternate options quickly and easily.

Contact Us

Insure on the Spot makes finding a high quality Chicago car insurance policy simple. To learn more, contact us at 773-202-5060.