Thursday, February 9, 2012

Car totaled Auto insurance wont pay full amount with salvage title?

This is crazy my car was hit head on, our airbags saved our lives, now the auto insurance of the other party wont pay full amount on 2006 vibe , because there is a salvage title on my car. My car has that title not from a accident because it was a stolen car that we bought at auction .

The Insurance company put's the salvage title on anything. Now what are we going to do sue them, How do you fight this crazy salvage rule its not our problem its their rule . It was also the other persons fault and it ruin our vacation with body pains it was all messed up.Car totaled Auto insurance wont pay full amount with salvage title?
OK, let's define "full amount". A car that's NEVER been totalled, is worth about twice what a car with a salvage title is worth. Many states, you CAN "clean" that salvage title, in cases of theft, or total rebuilds. The insurance company put a salvage title on it, because it was a total loss. An insurance company has ALREADY paid out the full value of this car. What's more, obviously, that car was eventually FOUND, and was probably found . . .totalled. So it's probably been rebuilt, even if it WAS a theft claim and not a collision claim (if you total a car while you're stealing it, that's theft - not collision).



So, now that you have a car with a salvage title, that you didn't try to 'clean', the actual cash value of it is about HALF what a non-salvage auto is.



There's nothing to fight. Maybe you paid more for the car, than it's actually worth, because YOU didn't know that a salvage title means the car is worth about half. But what you paid for it, doesn't affect it's actual cash value.



If you don't want to take their offer, you can always decline it and put it through your insurance, or you can sue them in court - but you STILL won't get more than the car's worth.
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