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Do you have a right to retain a totaled vehicle for salvage value or can insurance carrier require you to give them car?
Wiki User
∙ 14y ago
Yes, you have the right to retain you car at salvage price at time of settlement.
Wiki User
∙ 14y ago
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What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the owner. Others sell the totaled car to a salvage yard.
How do you declare the title of a vehicle you own as salvage?
can be done by insurance company at time it is totaled out by them
If your insurance company says your car is a total loss but you want to have it fixed can they charge you a salvage fee to keep your own car?
Any vehicle, whether a total loss or not, has a value. A totaled vehicle, of course, has a significantly lesser value (assuming the actual total loss has already been settled with the vehicle owner). This value can be anywhere from 5 - 25% of the pre-loss value of the vehicle. If you decide to keep a totaled vehicle after settling with an insurance carrier, they can legally remove the salvage value from your settlement. It shouldn't be much, and you can request that they actually get a salvage quote from a salvage yard. The idea behind this is that you can't legally profit from a loss. In your case, if your totaled vehicle has a salvage value, and you're keeping the vehicle, the insurance carrier must deduct that salvage value. Otherwise, you will get a full settlement, and still retain a vehicle with some value. But...try working with the carrier on what that salvage amount is going to be. Sometimes they'll adjust it to get the loss settled, since you never "really" know what the salvage value is going to be until the vehicle is sold at a salvage yard auction.
Who owns the salvage in an auto accident?
Either the cars owner or the insurance company who paid for the totaled vehicle
How can you locate RVs totaled by insurance companies to purchase for salvage or retitle as a salvage vehicle?
CONTACT AN CLAIMS AGENT FROM LOCAL INSURANCE COMPANIES, THEY WILL TELL YOU WHICH WRECKER NOW HOLDS TITLE OF THE SALVAGE VEHICLE(S). THEN YOU CAN CALL THE WRECKER DIRECTLY
If your loaner car was totaled and you do not have insurance what should you do?
get a good job............you will (assuming you are at fault for this loss) be require to pay for the totaled vehicle.........
How much does it cost to buy your totaled car from the insurance?
You bid on it just like the salvage yards. High bidder wins the car.
What happens to a car that's declared totaled by the insurance company?
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the damage), but not collision or comprehensive unless you have the repairs made.
How can I get the most for my car if it has a salvage title but everything in the car was brand new including the engine and was declared totaled by the insurance company of the driver who hit me?
Have the car appraised.
Can you get full coverage insurance on a salvage title car in Louisiana?
My insurance provider, Hanover, told me that they would only write liability coverage, and not full coverage on my truck that was flooded and totaled in New Orleans.
Can totaled 1999 mustang gt convertibles be repaired?
It can, but obviously the insurance company has decided it is not worth it. Also, note that in some states it may be hard to obtain a non-salvage title on a totaled car, which would make it hard to sell.
Hi you were in an accident two years ago your car had front end damaged that was fixed professionally by a reputable dealer your vehicle runs and looks like new Is your car still a salvage vehicle?
Once a salvage title is given to a car it remains a salvage or totaled/reconstructed car. It will never legally have a clean title again. This assumes the damage was reported to an insurance company and they totaled/paid out on the car.
