Can an insurance company total my car if I want it repaired?
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- Опубліковано 15 вер 2024
- precisioninjur... | 702-425-8880
This video talks about what happens when a vehicle is damaged and the insurance company wants to total it out and write a check for the actual cash value, but the vehicle owner wants it repaired.
This happened to me when I was rear ended at a stoplight. The insurance company said the car was totalled and offered $1000. It was seven years old but had very low mileage. They wouldn't budge. Then I "suddenly developed" back pain. I told the agent I will be going to the hospital for diagnoses. Estimated cost over 10 grand! They fixed the car with the terms that I agree that is that on the claim.
Nice one, greetings from down under, looking forward to watching your progress
Happened to us. My wife was rear ended at a stop. The other drivers insurance wanted to settle for a reasonably Ok rate. HOWEVER, the car was a 1970’ Olds Cutlass Supreme in Excellent condition (Muscle Car). Unfortunately, at the time, it was about one year from being regarded as a “Classic”. I strung out the settlement a couple of months insisting on more because of its near-classic status. Even checked with my own insurance, but they said they’d probably offer the same amount. In the end I caved and accepted their offer. It wasn’t bad though since they still recognized the car’s condition and relatively low mileage considering its age. Still painful to think about though. 😢
They can, but depending on the state you can buy the car back for the scrap value.
I'm in Oregon and I have bought back several cars that got totaled.
My cars are old I just got the parts from junkyard and put used parts back on. The Insurance company did exactly that to my 95 Neon when the drivers door and fender got damaged.
They deducted the scrap value from the check and I got a good door and fixed it myself for 60 bucks. Drove it till it finally died and bought a 06 Charger RT with low mileage to replace it 😎
They can in Ontario Canada, you could buy it back at salvage value which they deduct from the value they give you
Can you stop them from forcing a vehicle to have a salvage title? Or maybe contest that with the DMV? I have a old truck that's worth approx. $3k. If anything happens to her, I guarantee repair estimates will instantly cause them to total her out... no matter how minor the damage. If its not damage that's critical to the function , stability, or safety of the vehicle... can they still classify it as "salvage" if I buy her back?
I work as an adjuster, and this varies from state to state and company to company, but what I've seen some customers do if they know their vehicle, like yours, will total if it goes to a shop, is to start with a photo estimate since *sometimes* the photo estimate will be under the total loss threshold. Then they just take payment for the photo estimate. But sometimes that doesn't work -- the damage is too obvious.
Here's the short answer. Yes. They will pay you a you keep it price or a they keep it price. You keep it and you will get less. They take it you get more. Either way they call it totaled. Just happened to my son. They take it payout was $4500. If he wanted to keep it they would have paid out $3500.
thats because people dont realise that the insurance payout isnt to get you a NEW car its to get you a same year/model care with similar miles on it. so they pay you out 25k then that should be enough to go out and buy a used car that is near the same condition and age as the one you lost. if it costs more to repair because of things like labor than the 25k value of the car then they will just pay you out that amount. if you want to buy the vehicle from the insurance company at that point then you can and you can try to repair it. this will nearly ALWAYS lose you money if you dont do the work yourself.
they give you 25k, they will sell it back to you for 12k, the original repair bill was 30k. congrats, if you pay a shop to do the work then you are out -$17k. just take the payout if its reasonable and go buy the same year/model car used.
Can you just not make a claim? Sure you have to report the accident to the insurance company but can you just fix your car yourself and not make a claim with your insurance company? Then you can keep the car with a clean title.
Yes
The answer is no. An economic total loss is just that. Some states have a threshold of 80% and this is not negotiable. They owe you the ACV and no more. Some states mandate giving the car up for salvage, while most allow you to retain the salvage for the estimated cost of the salvage auction sale and it is up to you to obtain a title that can be licensed.
You can always decline a claim if you feel it is in your best interest.
I told them I wanted to keep my 00 Tacoma and they gave me the money to fox it and put a salvaged title