Hello, everyone. First-time poster here.

Just want to ask about total loss claims. Our car was recently deemed a "total wreck/total loss" by the insurance company since the estimated repair and labor costs went over the insured amount. Total nightmare since there's only 1 1/2 years to go before it's fully paid.

Now I have a few questions about claiming:

1. How long does it usually take for insurance companies to evaluate the car's fair market value?
2. Once the estimate is finished, how long then will they be able to offer us a sum amount for the insure vehicle?
3. What can we expect from the insurance company's offer? (We are afraid that they may lowball when it comes to the fair market value of the car but I hope it doesn't go that far.)

We're looking to get a new car before the excise tax law on cars take effect. We could use the money from the claim to pay for the downpayment but we're worried that it may take too long.

Apologies if this has been answered in different threads. Any input will be greatly appreciated. Stay safe on the road, everyone!