by john_carr8706 » Sat Oct 05, 2013 11:59 pm
I live in Kansas, I drive a 1999 Acura Integra, and my insurance is through American Family.
My car was totaled once a few years I kept it (bought back from insurance and everything needed to have it re-registered with the salvage title. Well I was in another accident again last night. And still want to keep the car, would I be able to buy it back after an estimate was done? What would the process be?
My car was totaled once a few years I kept it (bought back from insurance and everything needed to have it re-registered with the salvage title. Well I was in another accident again last night. And still want to keep the car, would I be able to buy it back after an estimate was done? What would the process be?
Posted: Sun Oct 06, 2013 03:19 am Post Subject:
Was it a different insurance company that totaled it then you have now? Usually when a carrier knows a vehicle was a total loss they won't wrote comprehensive or collision coverage on it. If this carrier knows it was a prior total loss then they should deduct around 25% of it's value prior to the accident. Keep in mind that you are paying a premium based on a non-prior total loss value.
You can retain the vehicle and have the insurance company deduct it's salvage value from their offer as long as you don't have a lien holder on the vehicle.
Posted: Mon Oct 07, 2013 12:53 pm Post Subject:
I drive a 1999 Acura Integra
At some point, trying to keep this vehicle alive will be a waste of money. It's now 15 model years old. It is not a "classic" that will ever have collector's value.Add your comment