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Can the victim insist the car be fixed instead of taking what's offered as a settlement?

2007-12-31 08:25:25 · 4 answers · asked by Anonymous in Cars & Transportation Insurance & Registration

4 answers

depends upon your state in some part. General rule is that you are entitled to receive the "fair market value" of the property or the cost to repair..whichever is less. That is why there are such things as "constructive total losses" where the vehicle is still operable but the cost to repair it exceeds the value of the vehicle. One exception to that might be a classic vehicle that has intrinsic collectible value beyond merely the sum of its parts.

Kelly blue book is ONE source of data on what the fair market value of your vehicle may be. Most insurers subscribe to a database that allows them to search "comparable" vehicles in your area/state to determine value. These are usually private party ads for sale and more accurately reflect the "fair market value" of the vehicle. If your insurer doesn't provide you with such a printout or insists on blue book, try searching the web or local papers for comparable vehicles. If you can find a few that are similar in age/milage/equipment for sale that are higher than the offer you've received from your insurer, provide them with copies of the ads and demand to be paid the fair market value as reflected in actual sales data. If they still won't pay a reasonable sum as reflected in these comps, you might consider small claims court (if your state has such an option). In California, the jurisdictional limit on small claims is $7,500.00.

Last option is if they are going to total the vehicle, ask to keep the salvage, take their offer and go have the vehicle repaired yourself.

2007-12-31 08:44:05 · answer #1 · answered by joe 4 · 1 0

1

2016-09-25 00:50:13 · answer #2 · answered by ? 3 · 0 0

No.

If the estimate to repair the vehicle equals or exceeds 75% of the car's value - then by law - the car is a total loss. The insurance company will make an offer to you based on the cars age, mileage, condition, options. What you reasonably could have sold the car for just prior to the accident.

The insurance company may let you retain the salvage. You get less money this way but they will take the value of the car - subtract what they could have gotten at the salvage sale for it - give you the car and the difference. What you choose to do with the car is up to you. They don't car if you try to get it fixed or turn it into a lawn ornament.

However, you can not force the insurance company to pay to repair the vehicle if it is a total loss - per statute.

2007-12-31 10:45:50 · answer #3 · answered by Boots 7 · 0 0

It would be better to take what they offer you because if you don't and buy it back, then the vehicle will be classified has a salvage vehicle and you will have all sort of problems after this including, maybe not being able to insure that vehicle again.

2007-12-31 10:11:59 · answer #4 · answered by Anonymous · 0 0

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