Can I request that my insurance company mark my car a total loss?

I got into an accident and the cost of repairs is going to be $4,000. I have a $500 deductible, so my insurance will pay $3500. My car is worth about $7,000 and I still owe $6,000 on my loan. Can I ask my insurance to mark my car a total loss, or should I just repair and sell my car?

Answer provided by
Emily Maracle
Answered on Apr 20, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
“While you can ask your car insurance company to mark your vehicle a total loss, it is unlikely that they will agree. Insurance companies have adjusters who evaluate damages during the claims process.
If they have already agreed to pay out for the claim, they most likely won’t reverse their decision. It never hurts to ask, though!
Should they not mark your vehicle a total loss, you can opt to sell your vehicle as is or move forward with the repairs. Since your vehicle is worth more than what you currently owe, you would be able to pay off your current loan by selling it after repairs. This would allow you to purchase a new car without the worry of an additional loan or loan payment.”

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