by jessicarossinsurance » Mon Sep 25, 2017 07:44 am
Hi,
a little background, my brother was in an accident, not at fault. He's getting an insurance payout (from the company that insured the person who hit him), but they're taking his truck. (not a problem for him, as he's getting more than he payed for it).
My question is, why are they taking the vehicle? I assume that my brother had a choice in the matter, and that he gets more if they take the truck. But why do they want it?
Is it some legal requirement that they offer to buy the vehicle under certain circumstances? Are they going to restore it and put it back on the market? I haven't ever scrapped a car, but I doubt they'll make up the difference in what they payed by scrapping the vehicle.
Maybe there's some subsidy for getting unsafe wrecked, or maybe just old, vehicles off the road?
Does anyone here know?
Please help.
Thanks!
I didn't find the right solution from the Internet.
References:http://www.insurance-forums.net/forum/auto-insurance-forum/why-insurance-company-buying-my-brothers-wrecked-vehicle-t90034.html
Animated 2D Corporate
a little background, my brother was in an accident, not at fault. He's getting an insurance payout (from the company that insured the person who hit him), but they're taking his truck. (not a problem for him, as he's getting more than he payed for it).
My question is, why are they taking the vehicle? I assume that my brother had a choice in the matter, and that he gets more if they take the truck. But why do they want it?
Is it some legal requirement that they offer to buy the vehicle under certain circumstances? Are they going to restore it and put it back on the market? I haven't ever scrapped a car, but I doubt they'll make up the difference in what they payed by scrapping the vehicle.
Maybe there's some subsidy for getting unsafe wrecked, or maybe just old, vehicles off the road?
Does anyone here know?
Please help.
Thanks!
I didn't find the right solution from the Internet.
References:http://www.insurance-forums.net/forum/auto-insurance-forum/why-insurance-company-buying-my-brothers-wrecked-vehicle-t90034.html
Animated 2D Corporate
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