Totaled or no?

[mwilk012]

Again, you say the insurance company gets to make all the decisions but then you say you can choose to keep it by settling with the insurance company. Isn’t that what I’m saying, or are we speaking different languages that sound the same.

You get to choose one of their crafted options. Who do you feel is making a decision in this situation?

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[kah.mun.rah]

If they do total it, ask what the buy-back price would be. Buying it back + the repair cost might be less than what they pay you for it. One thing to consider with that though is that it will probably have a salvage title if you ever decide to sell it in the future.

 

[Flip]

I'm glad everyone was ok.

I'm not an insurance adjuster but from your photo and my limited vision it looks fixable. I hope everything works out for you and you get back on the road/trails soon.

Take care.

 

[Atomic-Mouse]

You get to choose one of their crafted options. Who do you feel is making a decision in this situation?

Let’s break down what you just said,

“You get to choose” that to me sounds like a choice for the owner.

”Crafted options” yes I’m sure the insurance will have some say in how this plays out but it’s nice that you said “options” meaning multiple choices for the owner to choose from.

“Who do you feel is making a decision in this situation.” taking into consideration that options are offered I’d say both parties play a hand in the decision.

purely examples.

Keep the vehicle in its current state with a payment settlement for the value of the vehicle in its current state or a percentage of the estimated cost of repairs. The insurance company walks away from the situation and you retain your vehicle to do as you see fit.

Or

The insurance company pays you a settlement amount that replaces the vehicle with one of equal value, your wrecked vehicle then becomes the property of the insurance company to sell off to recover some value.

I use those options because that’s basically what my friend was offered by his insurance for his truck, results may vary. He had options and it was his choice, and no it’s not like a Chinese buffet where you get to pick and choose the tasty bits you want. it’s more like prison where the choice is either meatloaf or mystery stew but you get options and a choice to make. from the start of this post I was merely saying the owner has options and that the owner should work with their insurance company and not just take the first offer they give. You flamed me but basically say the same thing,

I’m done with you.

 

[mwilk012]

Keep the vehicle in its current state with a payment settlement for the value of the vehicle in its current state or a percentage of the estimated cost of repairs. The insurance company walks away from the situation and you retain your vehicle to do as you see fit.

Yes, with a rebuilt title that will have no value and cannot be insured again.

 

[hilljumper]

Hey everyone so today I got a in car accident and just wanted to know what people think I would be super bummed if it is totaled but im just waiting on to hear back from the shop it’s at. It’s only on one side too. Other side is fine beside driver wheel bent in. Little edit: I just hit 98k that morning and only had it about a year and 3 months. Along with its a 2014 and I’m the second owner and still owe on it.

t

It looks totaled to me. Buy it back and fix it.

 

[Alyssa s]

It looks totaled to me. Buy it back and fix it.

I’d love to but I’m a broke college kid. Barely can afford to pay it off if it’s only worth 14k. I owe 20 on it still.

 

[Mgg253]

Yes, with a rebuilt title that will have no value and cannot be insured again.

False. Salvage titles CAN be insured. Only some companies choose not to, other companies are fine with it.

 

[Windshieldfarmer]

10 year old Jeep jk…suspension, axle, wheels, cosmetic, likely frame= no question that it’s totaled. OP - plan accordingly.

 

[Windshieldfarmer]

False. Salvage titles CAN be insured. Only some companies choose not to, other companies are fine with it.

Yes…they can be insured but valuation limits for collision and comp amounts are reduced by 25-30% without a corresponding reduction in premiums. I have purchased several rebuilt cars over the year and that has been my experience.

 

[Mgg253]

Yes…they can be insured but valuation limits for collision and comp amounts are reduced by 25-30% without a corresponding reduction in premiums. I have purchased several rebuilt cars over the year and that has been my experience.

this is more accurate, also why they make “stated amount” policies. Remember Collision and Comp coverage are only a portion of your premium, and honestly a smaller risk than liability coverage.

Not directed at anyone, but there is more wrong information on insurance in this thread than correct information. It’s unfortunate, but it’s a lot of people’s [false] reality.

 

[The Last Cowboy]

I’d love to but I’m a broke college kid. Barely can afford to pay it off if it’s only worth 14k. I owe 20 on it still.

Prepare yourself by looking up as many local listings as you can for a comparable Wrangler. Same trim level, options and close on the miles. Around here, a nice 10 year old JKU lists for around $20k. You don't have to accept the number they give you. Show them what it would cost to replace it with one very close to what you have. They will try to lowball you with the auction price. Show them that that doesn't reflect what it would cost you to replace it, as you are not a licensed dealer who has access to auctions.

Many auction vehicles need some sort of mechanical or cosmetic work, are just weirdly optioned, or over accessorized/modified. Essentially, dealers send vehicles to auction that the don't deem worthy for their inventory. Many of those will be picked up by second tier credit lots or flippers who are willing to recondition them. Show the adjuster that before the accident, your Jeep was in great shape and not one that would be sent to an auction. Then show them the comps you looked up.

 

[Alyssa s]

Prepare yourself by looking up as many local listings as you can for a comparable Wrangler. Same trim level, options and close on the miles. Around here, a nice 10 year old JKU lists for around $20k. You don't have to accept the number they give you. Show them what it would cost to replace it with one very close to what you have. They will try to lowball you with the auction price. Show them that that doesn't reflect what it would cost you to replace it, as you are not a licensed dealer who has access to auctions.

Many auction vehicles need some sort of mechanical or cosmetic work, are just weirdly optioned, or over accessorized/modified. Essentially, dealers send vehicles to auction that the don't deem worthy for their inventory. Many of those will be picked up by second tier credit lots or flippers who are willing to recondition them. Show the adjuster that before the accident, your Jeep was in great shape and not one that would be sent to an auction. Then show them the comps you looked up.

Thank you I will definitely have to do that. I only Kelly blue booked it and it was worth 12-14k with no damage but with damage it went down to about 10k but I will definitely be looking to show them other options out there. Thank you.

 

[mwilk012]

False. Salvage titles CAN be insured. Only some companies choose not to, other companies are fine with it.

Not with the same coverage, it is not the same after being salvaged no matter how well it is repaired.

 

[Mgg253]

Not with the same coverage, it is not the same after being salvaged no matter how well it is repaired.

okay, so you’re saying your company won’t insure it with the same coverage and you haven’t looked at other companies, I get it.

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