by Abbs » Wed May 04, 2011 11:22 pm
I owe my car no lien holders n the ins cmpany wats 2 call total lose n salvage my car. Can the ins salvage my car without my consent? N if I keep the car will I hav problems with my registation every year? I am keeping the car n do not want any problems in the future. What r my options?
Posted: Thu May 05, 2011 12:01 am Post Subject:
They can consider your vehicle a total loss if they want... read your policy. However, they can't take your vehicle without your consent. However they can make their offer less the salvage value of the vehicle, issue payment and call it a day. However, they may also report to the state that the vehicle was considered a total loss and the state may change the title to a salvage title. You may have issues registering the vehicle at that point. Confirm info with your insurance company and check with the DMV.
Posted: Thu May 05, 2011 12:13 am Post Subject:
It was my ins that I was going under someone hit my car so I don't have a policy to read. So if they pay me for the salvage value would my car go on record as a salvage vehicle?
Posted: Thu May 05, 2011 12:17 am Post Subject:
You state it was your insurance. Do you mean the other person's insurance company?
Regardless, they don't pay you the salvage value... they deduct it from their offer.
In otherwords, if the offer was $10,000 and the salvage value was $3000 then they'd offer you $7000 if you kept the vehicle. Regardless of who keeps the vehicle, the insurance company _should_ notify the DMV that it's been considered a total loss.
Posted: Thu May 05, 2011 12:28 am Post Subject:
So there is no way around this "SALVGAE" it's jus doesn't make any since 2 me because it was jus some paint damage on the rear bumper.
Posted: Thu May 05, 2011 12:34 am Post Subject:
It's it's minor damage then the vehicle probably did not have a high value. Most states require a vehicle be considered a total loss when the cost to repair approaches it's value. In other situations the value of the vehicle is less then the cost of repairs. In both cases, the insurance company is either not going to break the law or pay more then they owe.
The only other option is not one that insurance companies will usually do. You can see if the adjuster will allow you to get a Contract for Repair from a body shop. Basically it s a document that the body shop would need to sign stating that they can make all repairs to the vehicle for a certain amount. This amount would need to be under the threshold for it to be considered a total loss. You'd need to talk to the adjuster about this. Some (most?) won't know what it is... they might need to speak to their supervisor. The insurance company is not obligated to do this.
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