Yup. I got in a fender bender at KSU many years ago, in an 86 Celebrity. The other driver was at fault. Repair to the hood and fender was more than the car was worth. I was living with my parents at the time. My dad took the check from the insurance company and fixed the car from junkyard parts for 10 cents on the dollar from the settlement and pocketed the rest. And I continued to drive that car for many more years. He later asked me to get in wrecks more often, jokingly of course.
Welcome Guest!
Can Insurance Company do this?
- Thread starter boneboy96
- Start date
Yup. I got in a fender bender at KSU many years ago, in an 86 Celebrity. The other driver was at fault. Repair to the hood and fender was more than the car was worth. I was living with my parents at the time. My dad took the check from the insurance company and fixed the car from junkyard parts for 10 cents on the dollar from the settlement and pocketed the rest. And I continued to drive that car for many more years. He later asked me to get in wrecks more often, jokingly of course.
Dead Eye Eddy
Banned
I got rear-ended 3 times in my old 88 Dodge Dakota. Each time, I took it to the over-priced body shop up the street and got a repair estimate. I got 3 checks that totalled about $3500. Each time, I repaired/replaced the bumper and the tail lights with hammers and junkyard parts, and kept driving it. All in all, I banked about $3300 from the 3 wrecks. I only paid $4K for the truck, and got $2500 trade value (with damage to both rear quarterpanels) for it, so I drove it for 11 years and actually made money on that truck.
His point is not that he can replace the vehicle for the amount of money being offered. His point is that he's not as good at buying used cars as guns, as his payoff is the same as what they are offering. In other words, he will have to pay off the vehicle loan with the insurance settlement and then get a new loan for a different vehicle. As I read the situation, he doesn't have the option of taking the $3200 and buying a different vehicle.
Either way, handing the title over to them and buying it back will still require the loan be retired. Then you'll own a wrecked, high-mileage vehicle free and clear - which sounds nice. Perhaps you can get a gig as moderator on a used car forum and pick off a good deal before anyone else has a chance to buy it!!!
Good luck.
Either way, handing the title over to them and buying it back will still require the loan be retired. Then you'll own a wrecked, high-mileage vehicle free and clear - which sounds nice. Perhaps you can get a gig as moderator on a used car forum and pick off a good deal before anyone else has a chance to buy it!!!
Good luck.
Twenty five ought six
Banned
There's no loan on the car -- it's just Boneboy and the ins. co. in a stare down.
From the OP--
boneboy96
Senior Member
I believe you've misread what I posted. I do not owe anything on the Accord. I don't want to have to owe on another vehicle...I'd much rather they just fix it instead of totaling it. I bought the car last year at Sandy Springs Toyota...paid cash and drove it off the lot. I'd say I got my money out of the car already...but I'd like for it to last a few more years!
boneboy96
Senior Member
I'm just going to have to wait a week or so and see what they come up with. They'll either pay me an amount I feel is just, or they'll have to find me a replacement car to make me whole again. My insurance agent gave me a few pointers and tips as well...I think the insurance company will do me right once I'm done with them. 
mello_collins
Senior Member
If the other driver was at fault and your kid has not been to the doctor yet, then mention that. Hint ( only hint ) a fair price for the car might mean there will be no doctor/mri/ct/x-ray cost. Worked for me.
Pudge
Senior Member
let us know what happens.
Ole Fuzzy
Banned
Insurance companies tend to have a 300 mile rule. If you think that the car is worth more than the book that they quote, they will accept evidence from you on sales of comparable autos within 300 miles.
You need to be looking at evidence of comparable sales. Auction reports, other books like NADA, Kelley; find some people that have sold them though classifieds and get affidavits, etc. If they are offering $3,200, it probably is not that far from what you'll get for a 13 year old ricer with 182k miles.
You need to be looking at evidence of comparable sales. Auction reports, other books like NADA, Kelley; find some people that have sold them though classifieds and get affidavits, etc. If they are offering $3,200, it probably is not that far from what you'll get for a 13 year old ricer with 182k miles.
ted_BSR
Senior Member
Check the Kelley Blue Book values on line. This is decent ammunition. Your repairs and new parts/tires mean nothing to the insurance company, and they don't have to pay you for them. Be prepared to sit in the adjustors office and tell that that you are not leaving until they pay you the fair market value for the car. Blue book is widely accepted. I did this, and they wrote me one check for the car, and supplemented with a check for "pain and suffering" which I did not claim, to get me to the Blue Book value.
Twenty five ought six
Banned
That is sort of mostly correct. I used to work with several major insurance companies, and what I found out is that there is an interesting little gray market with the adjusters and salvage yards. Those after market radios and wheels, and other new or add-on parts that the insurance company tell you aren't worth any thing are considered "bonuses" by the adjusters and salvage yard. You won't see them turning up on the salvage sale.
BUT, let me give you some personal "testimony."
I totaled a SUV where the other party was totally at fault. Turned out she and I had the same ins. co., so that problem was taken care of. The adjuster wanted to down rate the value because of high mileage. I had a receipt for a professionally installed factory crate engine with less than 1000 miles on it Adjuster's reaction was "see that proves it was high mileage."
I told him that I was perfectly willing to sue his INSURED (who is the one who gets insured) over whether a vehicle with a brand new motor was worth more than one with 200,000 miles on it. I also reminded him that there was a cause of action by the INSURED for bad faith refusal to settle. Long story short, that issue resolved itself favorably.Next issue, I had a brand new top of the line Die Hard battery, after market wheels with nearly new high dollar tires, after market radio, and a nice Reese Hitch. Again the adjuster told me those has "no value." O.K., let's go with that. So I spent a nice Saturday afternoon at the storage yard replacing the battery with my old boat battery, putting the factory wheels and tires back on, replacing the radio with a stock one, and taking the Reese hitch off.
Monday, my check was hand delivered, Tues, I get a call about "where's the battery, etc.", answer --"at my house" -- I thought the adjuster was going to stroke out, he called me every name except a child of God, threatened to have me arrested, was going to sue me for fraud, blah blah.
I pointed out to him that
(a) the vehicle was mine (and paid for) until I signed the title over to his company, and I could anything I wanted to it,
(b) I had a letter in hand with his signature saying that each and every one of those items had NO VALUE, and
(c) The vehicle was in the storage yard of his choosing, and he had every opportunity to inspect it or have his agent inspect it before giving me a check, so good luck with all the allegations of fraud.
So yes, they will tell you that the items don't add value, but that doesn't mean you can't be creative looking out for yourself.
Nugefan
Senior Member
I did this and getting the truck titled again was a bit of a pain .... 'cause once they total it you'll only have a salvage title ...
basstrkr
Senior Member
Let me add. This is a game the insurance know the rules we don't. They play it every day. One point of leverage you can sometimes use is 'time". The insurance company has an incentive to settle the case in 90 days. If you can hold out they get more ready to meet your price as time goes by. Of course they are riding all this time while you are walking, and they know it. I got my own parts and fixed my truck while I was waiting, put in back on the road and got "my" price in the end.
boneboy96
Senior Member
well the claims adjuster just got back from vacation today so I guess I should be hearing something soon. 
+1 on that. My brother in law tried that recently and they have a new process in GA that is basically a racket preventing a DYI person from attemting it.
To get the car retitled as drivable, it must be towed (not driven) to a state inspection station multiple times during the repair process. (Similar to the building inspections on a house at several points during the construction). And they will not pass it unless it is near perfect and looks perfect just like a body shop would do. Can't look just "good enough" for you to drive it, even if there are no safety issues.
My own insurance adjustor advised me not to repurchase my vehicle because of this new process, even though they probably would have made more off me vs a salvage co.
Twenty five ought six
Banned
You might remember that gubernatorial candidate Nathan Deal has the contract for this service, and lobbied strongly to prevent it from being simplified, and the loss of his contract.
Todd_GA_CO_09
Senior Member
Boneboy, if I were you I would surely raise your asking price on the car and settle. Trust me, you will come out better in the long run. There are some really good deals out there. Never be afraid to look at something you like just because they may be asking more than you want to spend.......cash will always negotiate you a good deal. Also alot of people are asking ridiculous prices for their vehicles due to the fact that either they don't know better or they know someone is going to ask them to negotiate and they pad the price to get what they need. Any how, best of luck and I will check back to see how it turns out. By the way, you are making them provide you with a rental car right?? If not tack that on the price as well. Best of luck to you.
In GA, they don't owe a rental for a total loss. Unless you have collision coverage on the vehicle, your insurance company can't do anything for you. The agent does not know squat about claims except how to fill out a claim form. If you haven't gone to the doctor within a few days, forget it. Trying to run up a claim with chiro treatment won't work. For those that don't mind stealing (that is what insurance fraud is), just don't buy insurance and be self insured. Let us know how that works out for you. Insurance companies are in business to make a profit, they are not like the government. Every dollar they pay for fraud goes right on the top of the premiums they charge. A lawyer will not take a property damage case on a contingency fee basis, property damage is cut and dried as far as the value goes. A jury cannot award $1,000,000.00 dollars for a $3500.00 car. Funny how my car is worth a lot if I want to sell it but cost way too much when I bought it. Unless you can do the body/frame work yourself you are unlikely to come out ahead by keeping the salvage and repairing it.
peanutzfarmer
Member
My grandfather was recently in a similar situation. He had an accident in his 93 mercury grand marquis. This car only has 82000 miles on it and he recently had the interior re-done. The insurance company was going to total the car. The repair was going to be more than the car was worth. Long story short, we negotiated with his insurance company for him and got them to cut a check for $1 less that what would have been the total loss of the car. We then paid the body shop directly for the remainder of the bill. He got to keep his car, no salvage title, and we got the car repaired a lot cheaper than if we had gone the salvage title route and had to jump thru those hoops. Just something to think about if you are like my pa-pa and really want to keep that car!
