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I feel the price depends upon the year, make, model of the vehicle totalled as well as how badly damaged is the vehicle in question and do you have a vehicle on hand to possibly transfere the salvageable parts from the totalled vehicle to the replacement vehicle? Also did you get enough money from the insurance company for the total prior to inquiring about buying it back? This would perhaps be a personal decision you have to make and not someone else deciding the buy back for you.
What else can I help you with?
Does gap insurance cover a vehicle that's insured when in accident?
No, you are misstating what GAP coverage is. GAP insurance is a separate type of insurance that you can purchase as part of your finance agreement or on your personal auto insurance. What GAP does is pay the difference in what your insurance company pays and what is actually owed on the finance account for the vehicle. This is especially important when a vehicle is newer. An auto insurance policy pays either the cost of repair, replacement of the vehicle, or actual cash value of the vehicle at the insurance companies option. If the vehicle is totaled they pay ACV which on a fairly new vehicle is less than the purchase price. Purchasing GAP insurance is usually far less expensive when purchased from your insurance company than the finance company.
What do you do if your car was totaled in an accident and the insurance company doesn't want to give you what you have found on the internet for comparable vehicles they say they can find it cheaper?
Keep in mind that the insurance company will compensate you for the actual cash value of the vehicle. This means the amount of money that it would take to replace the vehicle. Insurance companies do not use advertised prices to determine actual value. When was the last time that you actually paid "sticker" price for a vehicle?
If your insurance company does not want to give you Fair Market Value for your totaled car is there anything you can do to make them pay FMV?
Insurance companies will not give you the book value for a vehicle, the will give you the market value. Which means they search the classifieds for the lowest value of the vehicle and discount it again in an effort to give you their lowest price. Sue the driver of the vehicle,this will put pressure on the insurance company to come to an agreement with you. You can also contact the insurance bureau in your state, although I will admit it's very time consuming,you will get results.
Can the owner keep a car that is totaled but is still operational?
Usually you can, you can buy it back from the insurance company for a "salvage" price, you will then have a salvaged title and wont beable to insure the vehicle with full coverage any longer only liability. Talk to the adjuster about it.
Do you have a right to retain a totaled vehicle for salvage value or can insurance carrier require you to give them car?
Yes, you have the right to retain you car at salvage price at time of settlement.
Do you have to accept the insurance company's offer after your car is deemed totaled?
You can ask for more money and get other estimates. But usually, the insurance companies will price the loss of a car depending on the blue book's value.
If you are in a car accident and the car is totaled does your car loan get paid off through insurance?
Not unless you have the new option in insurance of the new car replacement. If your car is totaled, you will be paid the Blue Book price for your vehicle. This sum is the amount your vehicle is worth at this time. Any amount over this sum that is still owed to a car loan is still due.
How much does commercial vehicle insurance cost?
Commercial vehicle insurance varies depending on the risk you prove to have as a driver, what type of insurance you are getting, and with what company you are getting it from. There are many variables that affect the price.
What if your bike was stolen from your house and you claimed on the house insurance. shortly after you received the payment and bought your new bike your old one was recovered. who owns the old bike?
The insurance company is now owner of the bike. Just as in vehicle claims where the vehicle is totaled, you may only reclaim the vehicle if you pay the insurance company a salvage value amount (the same price they are selling it to a junkyard for). Unfortunately, the insurance company probably does not want a bike, and may either demand refund of the claim payout, or just tell you to keep the bike. The insurance company was probably notified of the bike's return, so they will probably contact you. At least, that's how it is in Arizona. Your state laws may differ.
Will insurance cover a rental car for me if my car is totaled?
When renting a car it has basic insurance , whereby you pay an excess depending on the company depends on how much your excess will be. You do not pay for the total damage to vehicle. You have the option to take out CDW (Collision Damage Waver) where you pay a little extra again price depends on company. If there is then even a broken mirror , you pay Nothing
How do you know whether a car will be repaired or totaled?
if the repair job out weights the price of the vehicle
What is the quote for a car?
The quote for a car is an estimated price given by a dealership or insurance company for purchasing or insuring a vehicle.
