Things get complicated after your car is declared a total loss. Learn from my experience!
First, a new player showed up from Allstate – the total loss adjuster. Kelly phoned me with detailed instructions on what to do next and what documents I needed to send them.
- She had already mailed me an Illinois Power of Attorney form, which I had to sign and send back.
- I had (smart lady) bought gap insurance when I purchased the car. This is insurance that will pay any difference between Allstate’s settlement and the actual balance remaining on the loan from the finance company. Kelly said to file a claim with them, then let her know what documentation they wanted.
- The amount Allstate will pay is their computation of the actual cash value of the car at the time of the accident plus the salvage value. They’ll also reimburse me for a couple of other items. I didn’t write these down, darn it, but as I recall they are the sales tax paid on either the wrecked car or the car I buy to purchase it, whichever is less, and the fee to transfer the plates to the new car.
- Allstate needs a copy of the original bill of sale. The one I have is too faint (being a copy) to fax or scan, so I’d need to get it from the dealership.
So the next step was to call the gap insurance company. The representative there faxed me a form telling what they need: Continue reading