QUESTION
Can an insurance company take your car after an accident that was caused by the other party and I was offered $2030?
Asked on Jan 24th, 2013 on Personal Injury - Georgia
More details to this question:
The insurance company of the other driver which rear-ended me and my car was totaled. They cut me a check for $2030.00 but I have to give the tile over to the insurance company before I can get my check. Is his legal for an insurance company to take a car that belongs to you? They want me to turn the title of y car over to the insurance company so they can resell my car.
9 ANSWERS
Ronald A. Steinberg
The policy gives them the option to fix or total.
Answered on Feb 04th, 2013 at 7:28 PM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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You want your cake and eat it too. if you want to be paid for the property damage (they have determined that your car is worth $2030 retail. It may be more but that is what they say it is worth. if you want the money you surrender the title. Simple concept. You can elect to just receive your repair damages and keep the car. Tell them you want to keep the car as salvage and they will diminish the 2030 by the salvage value and give you a check for the difference. You cannot have your cake and eat it too.
Answered on Jan 29th, 2013 at 8:32 PM
Christian Joseph Menard
When an insurance car deems a car totaled, they pay you its FMV. In exchange, they have, in essence, bought your car and are entitled to it. They, in turn, will either repair then sell the car, or they will sell it for its salvage value. If you want to keep the car, you can ask the carrier to sell it back to you for its salvage value.
Answered on Jan 28th, 2013 at 7:58 PM
Insurance Defense Litigation Attorney serving Auburn, CA
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Graves Law Offices
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If it's totaled they are paying you for it and you must sign over the title. You can ask them to buy the salvage and they will then let you keep it.
Answered on Jan 25th, 2013 at 12:06 PM
James Eugene Hasser
Not only is it legal, it's illegal if they don't. The law says that if they pay you for a total, they've got to send the title in and let the State know your car was totaled so that a "salvage title" can be issued. That is so if the car ever gets repaired and sold again, the new owner will know it had been totaled. Now, you can negotiate with the insurance company to keep the vehicle, but you will still have to turn over the title to them so they can submit it to the State for a salvage title.
Answered on Jan 25th, 2013 at 12:06 PM
Car Accidents Attorney serving Beaverton, OR
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Weimar Law Offices
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Depends. They are entitled to the car if it was totaled and they offered you the full value of your car. However, you are entitled to keep the car, but the insurance company is then allowed to subtract out what they call "salvage value". Ask them to make a new offer with you retaining your car and see what salvage value they come up with.
Answered on Jan 25th, 2013 at 12:06 PM
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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Yes. If they pay you an amount that is the fair market value for your car prior to the accident, then they are entitled to the salvage value of the car (you might look at it as the bought your car). If they paid you the fair market value of the car, and let you keep the car, then you have recovered more than you lost, the value of the car, plus the salvage value of the car. Most insurers will give you the option of deducting the salvage value of the car from the settlement and let you keep the car. If all of this is confusing, just take my word for it, they are correct and this is how it works.
Answered on Jan 25th, 2013 at 12:05 PM
Litigation Attorney serving San Antonio, TX
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Graves Law Firm
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Yes, it's legal for them to require the salvage if they're paying you the full value of the car. It's also legal for you to refuse to give it to them and just give them credit for the salvage value of the car against their payment. The real problem is reaching agreement on the value of the car immediately before the accident minus the value of the car immediately after the accident. That's what the law says you're entitled to.
Answered on Jan 25th, 2013 at 9:51 AM
Personal Injury Attorney serving Atlanta, GA
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Gregory S. Shurman, LLC
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It sounds like your car was a total loss. If so, the insurance company likely paid you it's fair market value minus it's salvage value. They then take the car and sell it for salvage value. All standard procedure.
Answered on Jan 25th, 2013 at 8:10 AM