Hello welcome to my simple blog on insurance records, our blogs are about insurance, insurance learning. If you have a car accident, it's probably better than before that your vehicle will be total loss - in other words, your insurance company will tell You that your car will be more expensive than the price. An estimated five million vehicles, or about 20 percent of those involved in insurance claims every year, fall in a collision - it is a 40 percent increase over the past seven years. This means that every year, millions of people face a daunting and time-consuming task to replace their car after an accident.
And while some insurance companies advertise total loss replacement coverage, the coverage generally only helps you if you drive a newer car. By contrast, "Total Loss Concierge" from The Progressive Group of Insurance Companies will help find you a replacement car regardless of the age of your totaled vehicle — and even if you want a used car.
"Because new cars have a higher dollar value, it's very unlikely that following a crash they'll cost more to fix than they're worth, so a service that only replaces newer cars doesn't help a lot of drivers," said Paul Lamison, Progressive's Total Loss Concierge manager. "We designed our Total Loss Concierge program to help the people who need it the most — that is, people whose cars may be a few years old and who may want help finding replacement cars and financing."
If your car is declared a total loss, your insurance company typically writes you a check for your car's actual cash value (ACV), minus the deductible amount you selected when you bought your policy. In exchange, you sign over the car's title. After that, you're on your own — you have a check, but you don't have a car.
This can cause a couple of different problems. First, you're faced with the inconvenience of unexpectedly having to shop for another car. And second, if you're like a lot of people and are "upside-down" on your auto loan (meaning you owe more to the financing company than your car is worth), you may find yourself in the position of owing money on a vehicle you don't own anymore. This can make it more difficult to find a car comparable to the one you had with your total loss settlement amount.
Total Loss Concierge makes these problems easier to deal with by using Progressive's large network of carefully selected car dealerships and lenders to find you the car you want, at the price you want to pay. Progressive's network of lenders can even help you arrange financing if you need it. All you have to do is describe the vehicle you're looking for — you can even specify the year, make, model, price range and color — and your concierge specialist will take it from there.
"Because of the resources we've put together, there's a good chance we'll get you a better deal on both the purchase price and the financing than you'd get shopping on your own," said Lamison.
Total Loss Concierge is free and available in selected states to all Progressive Direct® and Drive® Insurance from Progressive auto insurance customers and anyone involved in a claim with a customer.
In addition to possibly saving money, Total Loss Concierge can also save drivers a lot of time. According to a recent countrywide survey by Progressive, the majority of people whose cars are totaled spend at least five full days trying to find a replacement car and arrange financing.
"With Total Loss Concierge, we do the leg work for you so you can spend your time the way you want to," said Lamison. "And you get the car you want at the price you want to pay, fast."
Total Loss Concierge is the latest innovation from Progressive. While this service handles vehicles that are not able to be repaired, in 2003, Progressive introduced a concierge level of service for repairable vehicles available through its now more than 40 Service Centers throughout the U.S. That service made Progressive the first insurance group in the country to take responsibility for the entire claims/repair process. Progressive Direct or Drive Insurance customers who choose to use a Service Center simply drop off their damaged cars and, in about 15 minutes, can be on their way in a rental car assured that a Progressive claims representative will handle the repair process from beginning to end. The process saves people time because they avoid driving around to different body shops getting repair estimates, arranging for alternate transportation, keeping tabs on the repair process.
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