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Have you been in a car accident where your owned or leased vehicle was totaled in the past five years?

Then you’ll probably know that many insurance companies do not reimburse you for your total loss unless you are fortunate enough to have gap cover. According to recent consumer allegations, policyholders are being left with large amounts owing to their leasing companies, causing major financial strain.

Have you had a vehicle (owned or leased) totaled in a crash while covered under an auto insurance policy in the last 5 years? Did your insurance company cover the value of the car but not the sales tax and other fees? According to recent consumer allegations, insurance companies may not be reimbursing their policyholders for the full value of their total loss vehicle, resulting in financial hardships for owners and lessees.

The financial implications of car accidents can be extremely stressful, sometimes leaving vehicle owners or lessees in dire financial straits for years afterwards. But this does not have to be the case. If you have had a vehicle totaled while covered by an auto insurance policy in the past five years, you could be entitled to more than you were paid out.

Do you reside in Ohio? Have you totaled your insured motor vehicle (owned or leased) in the last five years? If so, you could be eligible for hundreds or thousands of dollars owed to you if you qualify for the totaled car accident class action.

Start by checking whether your insurance company compensated you for only the value of the car. Especially when it comes to leased vehicles, many insurance companies have underpaid motorists whose vehicles were totaled by systematically excluding license, registration, or dealer fees as part of the cars’ true payout value.

Automobile insurance is mandatory in Wisconsin. So if you have been in a car accident and your vehicle has been deemed a total loss, you should be able to get a new car by promptly filing a total loss claim. Your insurance company is obliged to pay you the actual cash value (ACV), or fair market value, of your motor vehicle so that you can replace it with a comparable one.