Who you owe the money to has nothing to do with it. It’s insurance period if you take parts off of it after they've totaled it and assessed the value.
When was the last time an insurance adjuster said that on a late model vehicle? I ask because it doesn’t happen.
If you own the vehicle it's yours and then you keep the vehicle that's what I was saying. If you don't they pay it off and take the vehicle. I was just saying if it's being used as collateral then insurance normally takes the vehicle but if you not you keep it. Sometimes they will deduct the salvaged amount out of the check they cut you for the vehicle and sometimes they just let you keep it. When our 2009 BMW 328i got totaked they cut us a check and I negotiated the salvaged price down to $400 so I kept the vehicle and sold it to a buddy who rebuilt it into a track car for drifting. That's the way it's always been for us. I know it sounds crazy but in the past 15yrs we have had 7 totaled vehicles plus my wife was a insurance adjuster for Allstate for 12yrs when we 1st got married.
I worked for USAA for a while when I lived in CO.
there ya go, i corrected it for you.
No. because I worked for major insurance company and dealt with it daily. Stop making assumptions.
here is a happy cookie as a congratulations. Im dont wasting my time with this conversation.
No worries dude. I just wish someone didn’t post that horrible advice. I don’t even remember who posted it. It’s a good way for someone to get themselves in a lot of trouble.
No, they' don't always get crushed. They often get sold. COPART here got my father's totaled Ranger. It sold. It may go to some place like Sam's where it will be rebuilt, given a salvage title and be sold. An insurance company may total it based on economics where a private party can fix it up with used parts and their own labor and drive it. There's a company here that buys just such vehicles.
Always take 'em to a pro, never go by internet "I bet you can fix it" comments. No one can see in pictures what a pro knows to look for and could see personally.
No way! The company owns that thing lock, stock and barrel once they pay you. And if they send an adjuster out, evaluate it and you strip it later you are in trouble. They are writing the check based on what the adjuster sees. If you change it after it's seen - it's trouble.
I apologize. I shouldn’t make snide comments. I don’t like it when they’re directed at me, so my bad. Long day, and frustrated for no good reason.
Yeah, that's why I even said "if you have upgrades covered" meaning parts like I have added.
Some policies do not cover such additions or "improvements" while others do to a specific dollar amount like they might cover $500 of added parts and/or you can have a higher dollar amount covered via rider - all I had to do was take photos of my changed parts, list them and send the list and pictures to my agent.
