🚗 Understand Collision Insurance in Virginia Collision insurance covers damage to your vehicle resulting from an accident, regardless of who was at fault. In Virginia, this type of coverage is optional but often required by lenders if your car is financed. 💰 Know the Value of Your Claim Insurance companies determine your car’s value using: ✔️ Market Value – Based on similar vehicle sales in your area. ✔️ Depreciation Factors – Mileage, condition, and prior damage affect the valuation. ✔️ Repair Costs vs. Total Loss – If repair costs exceed a certain percentage (often 75%) of the car’s value, it may be declared a total loss. 📑 Gather Essential Evidence To maximize your settlement, document all relevant details: 📸 Photos & Videos – Capture damage, road conditions, skid marks, and license plates. 👮 Police Report – Obtain a copy for factual details and officer observations. 🗣️ Witness Statements – Collect names and contact information of bystanders. 📝 Accident Detail...
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