2006-12-05 00:21:49 · 7 answers · asked by wezzy 1 in Cars & Transportation ➔ Insurance & Registration
Yes you can. The insurance company will give you a "salvage value" which is deducted from the amount they pay you if you keep the vehicle!
If you are going to keep the vehicle, do not give the insurance company the title. You are keeping ownership, not buying it back!!! You will not need to pay to have the title transferred back to you, and will not have a salvage brand put on the title as long as you keep it!!
2006-12-05 01:19:18 · answer #1 · answered by fire4511 7 · 1⤊ 2⤋
Yes, you can. Of course when they give you value for the vehicle and own it, they plan to take it in to a salvage yard and sell parts off it, so if you really want it back that will reduce -- sometimes considerably -- the amount they will give you. Also check your state law. Some states will only allow a totaled vehicle to have a 'junk' title so that it can only be used for parts and never allowed on the roads again. Others will issue a 'salvage' or 'rebuilt' title and allow it to be registered after an inspection as to road worthiness, but then your insurance company may decide they don't want to insure you. It's also difficult to sell a vehicle with a 'salvage' title, since most consumers are wary of them.
2006-12-05 10:16:56 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
Yes, but you would be nuts to do it. The vehicle has to be repaired by a certified rebuilder in order to get a title other than 'salvage only', meaning you cannot tag it or operate it on the roads with out a 'rebuilt vehicle' sticker attached by the state DMV. Alabama total loss threshold is 75% of ACV. Any collision, fire, flood, etc repair costs that exceeds this amount is considered a total loss. If you just want it for the parts you should have no problems other than disposing of the hulk when you're done stripping it.
2006-12-05 13:43:29 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Yes.
Insurance companies are reluctant to sell back to the owners however. They have outlets for the totalled vehicles they generally use. Some companies will give you a reduced "totalled" value and let you retain the car.
If your car has had the title surrendered as "totalled", then it can be purchased and used for it's parts, or it can be re-built and inspected by the state then a "salvage title" will be issued.
2006-12-05 08:31:20 · answer #4 · answered by br549 7 · 0⤊ 1⤋
Yes
2006-12-05 08:25:46 · answer #5 · answered by John * 2 · 0⤊ 0⤋
yes - buy it from your insurance company
2006-12-05 11:10:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you sure can if you really want it
2006-12-08 04:28:09 · answer #7 · answered by Loollea 6 · 0⤊ 0⤋