What if the cost to repair my car on an insurance claim is more than what the car is worth?

Kutekymmee

they will declare the car 'totalled' and pay you only the vale of the car.

PraiseBob

This is what is known as being "totaled". The Insurance will probably pay you what the car is (was) worth minus the deductible.

Ron Porkmore

Your insurance company will total it out.
they will cut you a check for what the car is worth and you will be without the car.

trucks2

it's "totaled"

Trackerrrr

Insurance company will usually offer you market value for the car instead of repairing. They take the car and salvage it. You get a check.

Your insurance company will take their option to salvage the vehicle and pay you out for what the appraised value is.

CowboyBill

Then your car is history.

Lil Gal

Anytime the amount owed to repair is higher than the worth of the car, the insurance company will total the car and pay you the "blue book" value of the car. But, be sure that you ask for any other monies owed to you if the wrecked car was the fault of someone else, that is separate from the blue book value.

lizdylan2003

get the insurance company to total your car...and start over in a new one

Engonos

you'll get what the car is worth. They would not fix it since the insurance would not fix it or it is least like to fix it.

tubafizzle89

this is the point when your car is considered totalled, and the insurance company will pay you the value of the car. they cannot give you all the money necessary to repair the car, because, obviously, at this point, why would you spend more than the car is worth just to get it working again?

your car gets totaled out and you get the blue book value of the car

shepardman1

they will then say its junk and not worth fixing,they will give you a check for what it is worth.

mike s

First, as others advise, it will be totaled & the insurance co. will offer to settle for it's "value." You do have the ability to negotiate that amount to a degree; especially dependent upon who was at fault. Argue wholesale vs replacement price.
SECONDLY, do you still owe on the car? If you have GAP coverage, that will cover the difference between what you owe vs what the Ins. Co. offers.

s p

insurance companys only pay up to blue book... its a fact

ralph d

If you want to keep the car. You will have to repair it yourself or find a friend that is in the business and you work together and epair the car with the insurance money you will get. That is if it was insured.

sterling m

then it becomes a "write off "

Enter Your Message or Comment

User Name:
User Email:
Post a comment: