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 lodged with the vehicle possessor). This value can be anywhere from Five – 25% of the pre-loss value of the vehicle.
If you determine to keep a totaled vehicle after lodging with an insurance carrier, they can legally eliminate 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 utter settlement, and still retain a vehicle with some value.
But…attempt working with the carrier on what that salvage amount is going to be. Sometimes they’ll adjust it to get the loss lodged, since you never “indeed” know what the salvage value is going to be until the vehicle is sold at a salvage yard auction.
Do you have to keep making your car payments when the car is totaled and you are in the process of suing your insurance company to pay for the car?
If your car is proclaimed a total loss how much will the insurance company pay back to you if the car was purchased below book value?
Will insurance cover a total loss to a utter coverage auto when the car is covered by a private policy yet the car is titled to the proprietor’s company?
After lodging with the insurance company for a totaled car do you keep the car or does the insurance compnay?
Legally, if the company pays you for the totaled vehicle, it belongs to them. You can suggest (if they don’t) to by the scraps back. This would be deducted from your settlement and you would be paid the difference.
What argument can be used when an insurance co claims a totaled car is salvage and deducts from the payment but the title doesn’t say it is salvage?
Your question is unclear. Did the insurance company declaire the car that was insured was a total loss. After that they would pay you for the entire value of the vehicle and keep the car since they paid you for it. The insurance company can then sell the bruised vehicle at an auction and make up for some of the loss or they can let the insured keep it and deduct the value from the claim settlement. I am an insurance agent but not a claims adjuster..
Your questions is indeed unclear but I am assuming your car got totaled and they paid you less, as tho’ it was a totaled vehicle to begin with. They might know something you don’t. If you purchased the car in the last Legal months from a dealer or person who gave you a clean title, the car may have in fact already been totaled but they determined to not file a claim and instead motionless it themselves at a cheaper cost and passed the car (and clean title) on to you. Meantime, the insurance company might have totaled the car and reported it as such. Or, the car was totaled in another state, moved to your state (a process called titled washing) and got a clean title for the brief term, long enough to resell the car with a “clean title” even however it was totaled. When you renew your registration the title will come up salvage. Did you run a Carfax on this car prior to purchase?
Is it legal for your insurance company to deny a loss for a car that was totaled?
How can you get the insurance company to say your car is totaled when they claim they can fix it?
If the insurance company totals your car can they take it from you?
What companies will insure salvaged title cars?
Many companies will but the policies vary from state to state even with the same insurance company.
How do you transfer a title on a car you are keeping that was totaled by the insurance company after a deer hit the vehicle?
If you are keeping the car with the intention of repairing it yourself, you should be able to turn the title in to the DMV and get a non-highway title. Then when you have the car repaired, you will have to have the car investigated to showcase that it meets all safety requirements and get a “salvaged” title. The salvaged title will make the car tighter to sell (unless you reduce the price well below blue book) and insurance companies will be reluctant to insure it. If it is an older car, some fairly minor bod work could be enough to total it, and if the car still runs or minor repairs would make it driveable, I wouldn’t do anything with the title. Just keep it registered and insured until you get it repaired. Unluckily, every insurance company in the world seems to have access to every insurance claim, so they will still know it has been totaled, but you’ll still have a normal title.
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 substitute 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?
What will your insurance company cover on your salvage title car if in an accident?
You almost had your car repossessed bc you switched insurance companies and finance company wasnt notified you called and worked everything out they still want to charge 300 in towing fees is it legal?
Put the blame on your insurance agent, he was supposed to send a binder to the finance co. But, I have never heard of a car being re-posessed for this.
Can you fight your insurance company in a your fault accident after they immobilized your car when it should have been totaled?
Absolutely! Regardless of fault, if you carry sufficient coverage (collision/comprehensive) you are entitled to have your vehicle either repaired to a “safe” standard, or a write-off payment received. The difficult part of proving such is in the time thresholds. DO NOT wait too long to seek a claim for a total loss. There is always the cargo of proof in this case, where you may have bruised your vehicle “after” the fact, and after such repairs were made. Note any evident harm, (eg. Doors not opening decently, engine problems) and have a certified assets shop/mechanic inspect the vehicle RIGHT after the initial repairs are made..
Generally an insurer will have an appraiser re-evaluate the damages to see if indeed, they were caused by the accident.
Does your insurance company have to cover your car after they said it was a total loss in California?
Time to break out the policy and have a look. Most the time they will not give you enough to pay off your current loan. Even tho’ your car is no longer salvageable, you still are responsible to pay for the remainder of your loan.
If you want the insurance company to total your wrecked car can you negotiate this?
Not indeed. Albeit things from vary from one state to another, usually they will repair the car if the harm value is 70% or less of the car’s current book value. I’ve never heard of anyone doing this so I’m not sure if it’s possible, but you COULD call the insurance company and tell them you’re willing to lodge for a check directly to you for less than the harm estimate. The company will most likely agree as ALL insurance companies want to lodge for as little as possible, but state laws may prohibit that because once a car is give a totaled or salvaged title it’s reported to the state. To reaction the question most of the time if they choose to repair it you have to side with that option most of the time, if you feel otherwise, consult your local auto accident attorney.
If you car was determined totaled by the insurance company are they permitted to tow your car to salvage before issuing a check?
Sure. Don’t worry, one is coming in the mail.
Don’t worry about the tow but don’t give em the title without a check in mitt very first!
When a car with only liability insurance and a salvaged title is totaled a 2nd time what is the responsibility of the at faults insurance company as far as replacement?
The title is irrelevant, they need to put you in equal transportation during the claims process and issue you a check based on the cars book value. If they give you less then you feel is reasonable you do have the capability to negotiate. You better have logical well thought out facts tho. In other words, what will it cost to substitute your vehicle with an equal to your vehicle?
How much should you get if your car is a total loss and has a clean title but a previous salvage title?
Respective of the Vehicles title condition, You are entitled to fair market Value. Basically this means you are entitled to the amount it would cost you to purchase the same or similar type and condition vehicle..
when you say has a clean title but had a prior salvage title, i am assuming you mean that the vehicle was repaired and probed by your state and deemed no longer a salvage title? if that is the case then there would be noextradeduction for the ‘branded’ or salvage title which can lower a vehicles actual cash value anywhere from 25-50% whether repaired or not………more details and perhaps i could be of more assistance……
CU put insurance on your car you were in an accident the insur. co is telling that it is totaled but the fee they said they will give the CU is what repair shops have quote to fix can we fight?
Single Interest Insurance is insurance that the lienholder, finance company, or lender will purchase to protect the lenders interest when the buyer/borrower fails to meet the obligation of the finance contract requiring the buyer to maintain insurance on the property being purchased until the note is paid. Single Interest Insurance cover the Lender, Not the BorrowerIf the CU had to purchase insurance on your vehicle, then this means that you were in default on your finance note by failing to provide the insurance coverage you agreed to when you financed the vehicle. You gave them no choice but to protect their interest in the vehicle. Single interest is going to cover only them. The CU is Insured, You are Not Insured. They are covered, You are Not..
This means you have no claim and you have nothing to fight because you are not an insured. If you were at fault in the accident mentioned, then you also have no coverage on the lenders Single interest Policy to cover any harm you caused in the accident..
The CU does have a claim because they purchased insurance to cover their interest in the vehicle. Single interest insurance covers them, Not you. Recall, you were supposed to be insured and you were not..
of course you can ‘fight’ anything…..please give me more info…such as year/make/model/mileage……cost of repair, (amount they are providing the cu)….what they say the actual cash value of your vehicle is etc……..
Spouse totaled his car last year and the insurance company is charging us for his totaled car on fresh policy. Are they permitted to charge us for a totaled car that you don’t own anymore?
When a car is totalled, it goes on your driving record. When insurance companies look up your record, they take that claim you made and make it part of the determining factors of how much your premium should be. I had an at-fault accident last year and it did not total the car, however the insurance company hiked my rate 50 dollars. My best advice to you is shop around. Observing a broker (someone who sells insurance on behalf of a certain number of insurance companies) may save you some time.
Why are youths charged a higher fee for car insurance?
Because they are a higher risk, because they have a higher percentage of accidents than more experienced drivers.
Does the insurance company own the car after it is totaled?
There are different categories of scrapped vehicles, D, C etc. The Insurers sell the written off cars on to scrap merchants or motor traders to recoup their losses. You are flawlessly entitled to buy the car back yourself for a nominal price. If the Insurers are lodging your claim and providing you a settlement to get a replacement car, the damged vehicle does in effect belong to the Insurers..
Hope this helps, I worked in insurance for Ten years.
My car was totaled. it already has a salvaged title. what will the insurance pay?
How do you negotiate with an insurance company for your totaled car?
If your car is a total loss will the insurance company help you fix it if you both pay?
Who keeps the car if it is totaled you or the insurance company?
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?
If you own the car and the insurance company determines the car is totaled do you still keep the car?
Your car was totaled no other car involved you had total coverage insurance and GAP insurance will you be reimbursed for your loss or will it all go to the finance company?
If the insurance company totals your car do you have to accept it or do you have an option to have it immovable?
What if you disagree with the insurance company about totaling your car?
If someone borrows your car and total loss it will the insurance company pay for damages?
Car stolen and recovered 6months later but inoperable and the car is repo and finance company lodges with insurance company and then charge me the remaining fee is that legal?
What if one insurance company mine not at fault said the car is a total loss but the other insurance company the at fault said they can fix it?
If the insurance totals my car can i keep my car?
You own your car it was totaled Should you let the insurance company have it after they pay you?
Can you insure a salvage title car?
If I don’t have collision insurance will insurance company fix my car?
Can you insure and tag a salvaged car?
When is a car considered totalled by the insurance company?
Can a towing company keep your car for fees in Ontario Canada?
What if their insurance determines your car is total loss?
Do you need insurance for a salvage car?
What do you do when the insurance does not want to fix the harm to your car?
Is there a formula the insurance companies use to determine salvage value of your car?
What authority does the insurance comp have to determine a car is a total loss just because the cost to fix the car is more than they want to pay doesn’t mean the car is a total loss and can’t be repa?
What does the insurance company do when a car is not total in a wrecked?
When an insurance company proclaims an individuals car a total loss what is the method to calculate the insureds payment for his or hers loss?