Does anyone know what happens when an insurance claims adjuster says your car is totalled after a wreck?

traveldude189

actually what will happen is that the insurance company will cut you a check for the value of the car, you can then buy the vehicle back for a certain price which they will tell you. The title will then be marked with a damaged mark which depending on the state can be removed, i know in maryland as long as you take it to the state police and can prove that the vehicle is in good condition, as in the frame is no bent, you can have the mark removed by them. Its all depending on what the buy back is, but basically they take ownership of the vehicle and will set a price being that its that new of a vehicle the buy back could be in the thousands, i had a 1993 nissan pickup with 275k miles and the buy back was 800 bucks.

Luna & Lawnboy

Doesn't sound as if the insurance company was giving you the run around if the loss occurred last week and they have already appraised the vehicle.

Anyway, you are only entitled to the Actual Cash Value. The vehicle was totaled because the damage exceeded 70% of this value.

The insurance company will not offer to repair your vehicle if it is totaled. However, you can buy the vehicle back. Meaning, you get the ACV less the salvage value for the vehicle. However, you will have to get a salvage title. Not really worth the hassle.

Go to nadaguides.com and use the lower value. This is what you can expect the offer to be. If you dispute the offer, you need to do your homework and prove why the vehicle is worth more.

You may be better off going through your own insurance company, but chances are they WILL NOT let you keep the vehicle.

nate j

It means that the cost to make the vehicle street worthy again would total more than the actually blue book value of the car.

car253

No. The insurance company will not allow that. By that I mean that if they say the car is a total loss they will give you a check for what the car is worth. Are you making car payments on the car?
If you are then they need your bank info, account # & phone # to your leinholder so they can pay off your car loan. Just hope if your making payments the money from the insurance covers the balance you owe them. If you overpaid for your car it might not be enough. Check to see if you have GAP insurance. You might have bought it through the car dealership.

If you really want to keep the car and repair it ( this is not a good idea), ask the insurance company for a salvage title and tell them you want to keep the car. If the car is that damaged it is a bad idea to repair it.

It would help to know if you have collision coverage and if you have a leinholder. If so, the above applies.

letsget_dangerous

is simple math in most cases.

most insurance companies will give you three options based on cost for the repairs needed ad what the fair market value of the car is.

So lets say your car is worth 10,000
damages are 7500
they will most likely pay you the 7500 and let you keep the car
or pay you 10,000 and take the car

if the damage would cost more than what the car is worth then it doesn't make sense to repair it.Would you be happy driving it if it didn't want to drive down the road straight?

Also if the damage effected the frame at all it may not be possible to make it drive properly no mater what. well take as food for thought.

#64

When a car is "totalled" it mean that the cost to fix the car is more than what the car maybe worth as in blue book value. So your insurance company is going to try to buy you out and give you a check for your car. But you get the check they will take your car and auction it off if it can be fixed in anyway and not have a salvage title. So they will get back some of the money that they paid you in totaling your car out who knows they may actually get more back, those auctions are DEALER only, so you will never know how much your car sold for. the insurance company always win. But at lease it wasn't your fault!

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