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If your car has a salvage title and is totalledstolen will the insurance company still pay blue book value?
Wiki User
∙ 15y ago
The insurance company is required to pay the actual cash value (normally) of the vehicle prior to the loss. Get prepared to document what your vehicle is worth with a salvage instead of a clean title. Don't expect to get more for the vehicle than you piad for it. Don't expect much at all if the salvage title was given after another insurance company already totaled the vehicle. Honestly - unless this was specifically addressed when you tried to buy comprehensive cover on a salavaged title vehicle, you are going down the road to a "bad faith" claim against an insurance company. (Arguement being - insured was charged full comprehensive rate for the vehicle in question based on value of a clean title, then when a covered total loss is presented, company pays value on a different basis) Check with a lawyer. If at all possible, try to address this when placing coverage, not at the time of a loss. Mark Walters, ARM AAI
Wiki User
∙ 15y ago
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Do you get to keep your car if an insurance company right your car offbut give you predamage value for it?
Generally NO, as in effect when settling with you, the insurance company is buying the car from you. Therefore, the car belongs to the company. If you still want the car, many insurance companys will allow you to buy the car back at the "salvage value."
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.
Do you need car insurance for your salvage car in California?
If the car is still going to be driven, then yes it does need insurance.
How can I fight a salvage title determination of a 2005 pu from my insurance company Damage estimated at 23000 I retained the vehicle and repaired it for under 5000 yet they insist it is a salvage?
If you took the money from the insurance company you have agreed to the salvage title and there's nothing you can do about it. Now the car just lost 40% of its value because of the salvage title but I assume you made money on the insurance payout. If you refused the insurance money and fixed the car yourself for $5K the title would have remained clean. Now if you didn't file a claim and they still salvaged the car title you can either fight it if they didn't pay you or take the money and drive the car til the wheels fall off.
After an accident that was not your fault if the other party's insurance company totals your bike do you still get to keep your bike?
most of the time, if an insurance company "totals" your equipment, it will pay it off or pay you and then sell it to a junk yard for as much as they can get for it. However, you do have the option to buy your bike at the same price the salvage yard would pay.
Is First West Life Insurance Company still in existence?
My First life insurance company is Aegon Religare and it is still in existence with better life insurance plans.
Does the Philadelphia Life Insurance Company still exist?
No, Philadelphia Life Insurance Company merged into Conseco Life Insurance Company in October, 1998
If a car is considered a total loss after an accident and the insurance company pays you for what the car is worth do you still have coverage on that vehicle if you contnue to drive it?
Usually if the car is a total loss, the insurance company will pay you and take the car. They then sell it for parts/salvage. If they let you keep the car, all you have to do is check on the current status of your policy and see if it is listed.
Is there still Montgomery wards life insurance company?
Montgomery Ward Life Insurance still exists and is located in Schwamburg, IL. as a private company.
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.
How do i convert salvage title to clean title?
You cannot. Once branded salvage or totaled, the title remains as such. There are illegal ways to convert a branded title (called title washing) but no legal way. Sorry! It depends on what you are really asking with your question. It is true that once the brand is on the vehicle that it was salvaged it will remain on the vehicle forever. But if you mean converting from a salvage title to a salvage rebuilt title which looks like a "clean title" but still has the brand on it that is different. If you live in Texas you will need a rebuilt affidavit completed by the owner and the person who made the repairs, you will need the title completed by the new owner and the salvage dealer or insurance company that sold them the vehicle, you will also need the form 130u which is on the txdot website completed by the dealer or insurance company and the new owner, and the new owners insurance. Please call me if you need help 2815363857 or email me at tishafranks@AOL.com
Does an insurance company have ownership of the vehicle after they pay for your total loss?
If you settle a total loss with an insurance company & choose not to keep the car, you have to send them your signed title and release possession of your vehicle to them in order to be paid for the claim. You do have the option of retaining it for less settlement money (due to salvage value and, in certain states, license & fees, taxes, etc...If you choose to retain, you will still not be paid for the repair of your vehicle, it is still totalled. Depending on the state, you also must get a salvage title on the vehicle until you have had it repaired & inspected by the state to be deemed roadworthy before applying for a rebuilt title.
