Insurance Settlement offer less Salvage Value (California) (vehicle, red light, best)

[uswntfan]

I just received a letter from my insurance stating they will not be taking ownership nor handle its disposal for my totaled car. This means they are deducting the salvage value from the settlement offer.

The car can not be driven, what am I suppose to do with a salvaged car and how do I recoup the salvage value of the car? I am sensing this scenario is going to be hassle but also cost additional money to take care of.

Any experience with this and should I be pushing back to the insurance? Not sure what my next steps should be.

[howard555]

Originally Posted by uswntfan

I just received a letter from my insurance stating they will not be taking ownership nor handle its disposal for my totaled car. This means they are deducting the salvage value from the settlement offer.

The car can not be driven, what am I suppose to do with a salvaged car and how do I recoup the salvage value of the car? I am sensing this scenario is going to be hassle but also cost additional money to take care of.

Any experience with this and should I be pushing back to the insurance? Not sure what my next steps should be.

We were in an accident not our fault. Our vehicle was towed to a garage that was on the list that the police keep so they can call wreckers at accidents. It was totaled and less than 3 weeks we had been offered x dollars and they keep the car (and sell it to some salvage yard). Or we keep the vehicle and we pay the salvage value (which is what they think they would have gotten out of it if they had parted it out). The vehicle was towed to one of our homes and we got a check for the fair value less the salvage fee.

Which parts of your experience did not follow the progress of ours?
There may be different procedures in different states and with different insurance companies.

Were you at fault or it was a one car accident?

Originally Posted by uswntfan

they will not be taking ownership nor handle its disposal for my totaled car. This means they are deducting the salvage value from the settlement offer.
The car can not be driven, what am I suppose to do with a salvaged car and how do I recoup the salvage value of the car?

That sounds fishy. They should be possessing a totaled vehicle and you are entitled to fair value. Only after that were you able to ask about salvage value if you wanted to keep the vehicle. It was an option for us to keep it and not a requirement.
If they are forcing you to take fair value less salvage cost you should be keeping the vehicle.

[uswntfan]

It was a Hit & Run where the other car ran a red light. All witness accounts corroborate what happened and reported to the police that showed up to the scene.

I've always know insurance that total a car to take ownership once they settle the claim and dispose of it. I don't want ownership of a totaled car but it seems as they are forcing me to keep ownership and figure out what to do with the car.

Also if the settlement if for the Fair Market Value - Salvage Value, then the taxes that need to reimbursed would be for the difference of the two. This could add up to a couple hundred dollars. I don't have the settlement offer yet, this has been the 1st communication from my insurance.

[howard555]

Originally Posted by uswntfan

It was a Hit & Run where the other car ran a red light. All witness accounts corroborate what happened and reported to the police that showed up to the scene.

I've always know insurance that total a car to take ownership once they settle the claim and dispose of it. I don't want ownership of a totaled car but it seems as they are forcing me to keep ownership and figure out what to do with the car.

Also if the settlement if for the Fair Market Value - Salvage Value, then the taxes that need to reimbursed would be for the difference of the two. This could add up to a couple hundred dollars. I don't have the settlement offer yet, this has been the 1st communication from my insurance.

Wait for others to give you opinions and advice.


I'd say do not cash any settlement check or sign any release until the matter of the totaled vehicle is resolved.

[Cloudy Dayz]

Originally Posted by uswntfan

I just received a letter from my insurance stating they will not be taking ownership nor handle its disposal for my totaled car. This means they are deducting the salvage value from the settlement offer.

The car can not be driven, what am I suppose to do with a salvaged car and how do I recoup the salvage value of the car? I am sensing this scenario is going to be hassle but also cost additional money to take care of.

Any experience with this and should I be pushing back to the insurance? Not sure what my next steps should be.

Where is the car now? How much are they deducting for the salvage value?

[The Man in SATX]

Originally Posted by uswntfan

It was a Hit & Run where the other car ran a red light. All witness accounts corroborate what happened and reported to the police that showed up to the scene.

I've always know insurance that total a car to take ownership once they settle the claim and dispose of it. I don't want ownership of a totaled car but it seems as they are forcing me to keep ownership and figure out what to do with the car.

Also if the settlement if for the Fair Market Value - Salvage Value, then the taxes that need to reimbursed would be for the difference of the two. This could add up to a couple hundred dollars. I don't have the settlement offer yet, this has been the 1st communication from my insurance.

This is called an owner retain settlement. Who do you have insurance with? Somewhere it was informed to them that you intend to keep ownership of the vehicle. Your best bet is to get on the phone and talk to them. No one on the forum can help you with this. They may have been told by someone that you intend to keep the vehicle. Could possibly be a simple communications error. Clear it up by communicating with them

[wit-nit]

You could call one of those attorney's you see on TV that claim they will get you what you really deserve. Whatever that is.