I bought an 03 mustang convt about a month ago for $10K, but it was a salvaged vehicle that had been restored.
2 weeks after having it, a lady ran a red light and t boned my car. Her insurance company , State farm, evaluated my car and deemed it a total loss.
Anyways, they paid me $13K for the car. I never said on the phone that it was salvaged when the insurance agent made the offer. They had the VIN number though. I had to go a state farm office to pick up my check, and give them the registration of the car, which did say on there it was a salvaged vehicle. They were busy and rushing that they didnt really look at it though. My insurance company (AIG) said that since it was already a salvaged vehicle that the pay out MIGHT only be 50-75 percent of actual cash value.
Thankfully I wasnt hurt at all, and came out 3 thousand ahead from it but im wondering if state farm actually looks at the paperwork later, can they demand money back from me?
2006-12-24
00:29:56
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12 answers
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asked by
Barbara Faye
5
in
Insurance & Registration