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I have a hypothetical question. My car was in an accident last year, I hit a deer, the collision shop said the damage was over $5,000 and the insurance company totaled the car. I opted to keep the car and repair it myself. The insurance payout was $5,300, but deducted $1,000 to allow me to keep the car so I got a check for $4,300. It cost me $800 to fix the car myself, I replaced the hood, passenger headlight, condenser, used winch to bend radiator support back in to place, a couple of cans of touchup paint to paint the hood, zip ties and duct tape. Got the car to pass inspection. I've been driving it the last 20,000 miles, I have liability only coverage now.
So if someone damages my car and are found at fault, would their car insurance pay out the value of the car again? While the car has a clean title, it's in the insurance's companies computers they already paid out on the car. If so is it the Kelly blue book value or $1,000 plus repairs minus deprecation?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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If someone else hits you and is at fault, their liability insurance will cover your damage at the rate of the salvage title, usually 20-40% less than the same car with clean title. Hopefully you neve have to find out, but if KBB is $5,000 for example, the value in your case would be $3,000-$4,000. Then there is the possible attempt by their insurer to blame the accident on the condition of your car.
I have a hypothetical question. My car was in an accident last year, I hit a deer, the collision shop said the damage was over $5,000 and the insurance company totaled the car. I opted to keep the car and repair it myself. The insurance payout was $5,300, but deducted $1,000 to allow me to keep the car so I got a check for $4,300. It cost me $800 to fix the car myself, I replaced the hood, passenger headlight, condenser, used winch to bend radiator support back in to place, a couple of cans of touchup paint to paint the hood, zip ties and duct tape. Got the car to pass inspection. I've been driving it the last 20,000 miles, I have liability only coverage now.
So if someone damages my car and are found at fault, would their car insurance pay out the value of the car again? While the car has a clean title, it's in the insurance's companies computers they already paid out on the car. If so is it the Kelly blue book value or $1,000 plus repairs minus deprecation?
You would receive whatever the fair market value of the car is. It would have a salvage title and is not worth what a vehicle with an ordinary title is.
You would receive whatever the fair market value of the car is. It would have a salvage title and is not worth what a vehicle with an ordinary title is.
I don’t have a salvage title, I inquired about weather I needed to get one, but the claims adjuster said I didn’t need to. I have the same title as before the accident.
I don’t have a salvage title, I inquired about weather I needed to get one, but the claims adjuster said I didn’t need to. I have the same title as before the accident.
That's certainly an advantage but even I, an insurance pro, can't predict what any insurance company would offer under any given set of circumstances.
I suggest you obtain your CLUE report and come back with the results. I may have additional comments.
CLUE is the Comprehensive Loss Underwriting Exchange that insurance companies subscribe to.
I don’t have a salvage title, I inquired about weather I needed to get one, but the claims adjuster said I didn’t need to. I have the same title as before the accident.
Be careful, a former employee of mine wife went through this when she purchased her total vehicle and held the same clean title. After rebuilding , they went to trade in the vehicle. The dealer would not purchase it as they stated the system shows a branded title. After visiting state motor vehicles, turned out despite everything she was told, a branded e-title was issued on that vehicle. Since she just kept her old title and never checked to see what the State had, she wasn't aware a new title was issued that showed salvage rebuilt on it.
Be careful, a former employee of mine wife went through this when she purchased her total vehicle and held the same clean title. After rebuilding , they went to trade in the vehicle. The dealer would not purchase it as they stated the system shows a branded title. After visiting state motor vehicles, turned out despite everything she was told, a branded e-title was issued on that vehicle. Since she just kept her old title and never checked to see what the State had, she wasn't aware a new title was issued that showed salvage rebuilt on it.
Thanks, but I'm not concerned, I'll drive this car till it doesn't run any more. It's my daily commuter. I purchased a SUV with part of the settlement money, but it costs twice as much to fill the tank to drive the same distance, tires and oil changes are more too. I'm keeping the mileage down on the weekend only use SUV, It's funny I use it maybe once every two weeks, but it's nice having a spare vehicle.
Interesting report, they had every address I ever lived at, every property I purchased, who I brought from and who I sold to, but only one accident claim listed, even thou I had at least two other claims for 15+ years ago. interesting to see they care more about a house I owned 20 years ago, but don't care that I had have several accident claims from that long ago. They also pulled some credit info, probably less that it normally would have been, given I have credit freezes for the big three credit agencies.
Your report seems to have more information than I remember. The last time I ordered mine was 2019 and I could order one for auto and one for homeowner.
Looking back over my older CLUE reports it looks like insurance claims only go back 6 or 7 years so your 15+ years old claims wouldn't show.
I just ordered mine and was not asked for a choice. It'll be about two weeks and I'll come back to this thread.
Honestly, this doesn't sound like a hypothetical question to me but more like a calculated question.
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