Professor Haibo (Stephen) Yao recently contributed his expertise for WalletHub as part of a panel of experts in the Totaled Car Guide: Key Things to Know in 2021.
“A totaled car is a car that would cost more to fix than it is worth, or a car that cannot be repaired safely or cost-effectively,” stated author McKayla Girardin.
The article goes on to explain the process of what happens when a car is declared a total loss and what to do. Yao gave his advice on the following questions:
- Should drivers ever consider keeping a totaled car?
- How can drivers get the most from their insurance companies after their car is totaled?
- What is the most important thing to do after your car is totaled?
- When should a person get extra insurance to protect against the possibility of a totaled car?
Check out Professor Yao’s advice here.
Haibo (Stephen) Yao serves as an Assistant Professor of Insurance & Risk Management in the College of Business Department of Economics, Finance, Insurance & Risk Management at the University of Central Arkansas.