Auto Insurance Payouts?

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Auto Insurance Payouts?
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Auto Insurance Payouts?

If you don't agree with what an insurance company offers you for a "totaled" vehicle do you have to accept the payout?

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Issie C

There are tons of websites where you can get a free insurance quote. http://www.simpleautoquotes.com/Auto-Insurance.html It only takes roughly 10 minutes to do.

Claims adjuster

No you don't have to accept their payout but if you decline it you may be responsible for future storage charges at the impound lot. If you have notified your carrier they can also go out to access the value and you can have two values to choose from. If the accident wasn't your fault your insurance company if you have collision coverage would subrogate them for you, whit your deductible subtracted from the value. Most companies don't use the blue book value because it is not an accurate market analysis for your vehicle so if you used that quote be prepared for a difference of value, sometimes at your advantage most times not. You can always choose to retain the salvage title and if you are still paying off the lien your bank technically owns the vehicle and not you.

entidtil

No, you don't have to accept it. If you disagree you should get your own appraisals from a couple of "experts" and present those appraisals to the insurance company. They are not going to up their ante without some kind of evidence

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