me and dad went for a ride in my car yesterday and i let dad drive it cause i wanted his opinion on how it was running. well we were pretty much hauling some serious ass and were getting on the interstate and hit a patch of water on the top of the acceleration lane. the car came around and smashed tail first into a tree.
i have a question. has anyone ever bought there car back from the insurance company when they total out the car? how much did it cost to buy back?
I have St. Farm Insurance and in November 2000 I had an accident and they totalled it. I purchased it from them for $1700. Although they considered it a total loss (by their standards), the car was not really totalled by my standards. I got about $12,300 ($14,000-1700) from them. It cost me about $1700 for the body repair and I got my airbags for about $450 (between Ebay and junkyard) and some misc. stuff. So for less than $3K I had my car back. Here's the best part, St. Farm even reinsured the car after I got it back on the road.
I have St. Farm Insurance and in November 2000 I had an accident and they totalled it. I purchased it from them for $1700. Although they considered it a total loss (by their standards), the car was not really totalled by my standards. I got about $12,300 ($14,000-1700) from them. It cost me about $1700 for the body repair and I got my airbags for about $450 (between Ebay and junkyard) and some misc. stuff. So for less than $3K I had my car back. Here's the best part, St. Farm even reinsured the car after I got it back on the road.
the insurance company never owns the car. if you choose to keep it, they simply give you the value, minus any deductable, and the salvage value.
you own the car no matter what. if the insurance company takes the car because you dont want it, then thats different. if you keep the car, the title does not change. it is still a clean title, but a carfax may report it as wrecked or totalled.
Not exactly how it works.... they WILL cover mods if you tell them about them up front and pay a kazillion dollars a month extra for them. You pay for insurance on a bone stock car, they insure a bone stock car.
Actually, for me (progressive), the insurance company required that I have a salvage title before they would give me ANY money for my car at all. Not really a problem for me as I plan to keep the car till it turns to dust.
I only have liability on the car now since it's only a weekend KING. From what I hear a car with a savlage title is only worth about 50% of the value. The last time I checked NADA a 95 Cobra is still worth about $8k so that means mine is only about $4k so, to me, it's not worth the extra insurance payment for full coverage.
Actually, for me (progressive), the insurance company required that I have a salvage title before they would give me ANY money for my car at all. Not really a problem for me as I plan to keep the car till it turns to dust.
i have had 2 cars that "totaled". i kept them both, and the title never changed. i traded one in (still wrecked) a few months after the accident, and had to sign some paperwork about the title to be sure it was clear. i never had anything come back on it. i still have the other car.