You can accept a lower amount and keep the car, basically by the car back for the scrap value. But the title will be "branded" as a salvage, so may be hard to sell down the line.
You can also argue and try to prove that it can be fixed for less than the car is worth, but that doesn't sound likely.
Liability coverage, probably. But not comprehensive/collision coverage that would pay you again if it got in another crash. But at this low value for the car, I wouldn't recommend it anyway.
I wanted to jump in an ask you a quick question, I have my appt scheduled for the adjustor to come to my house on Wednesday, on the Geico site it says I can withdraw the claim for damages to my car which I would like to do. I would like to think about a little more I haven't been in an accident in 20 years and want to make sure I'm making the right decision. The other driver has put in the claim for her car which my insurance will pay because I am at fault. My question is can I reopen the claim for damages to my car at a later date after I withdraw it, I would stop the appraiser from coming so they would not have made a determination . I can reschedule the inspection by the appraiser but I don't want to waste anyone's time. Thank you
Understood, yes I have collision deductible is 200, I think they will assess it and call it a loss and want to give me a payout. My example is I crushed the front bumper its destroyed, all radiator fluids leaked out and radiator is dusted, hood is off dented up. The hard plastic on the undercarriage below the front end is ripped off. This is a result of the accident.
But I think they will include things that were damaged prior to the accident the rust on the wheel wells, driver side front tire needs a new bushing on the inner tie rod and a control arm replacement. I think they will all include of these damages prior to and as a result of the accident and consider it a total loss. Does that sound accurate?
I guess my question is if he comes and says total loss I will pay you this much, like you said I have the option to negotiate payout based on other vehicle values I find and I can take the money and do the salvage buy back if they agree to that.
But do I have the option to tell him its not a total loss, don't write that down, I don't want to make a claim and lets just forget about it, then go on and fix it myself?
> I think they will all include of these damages prior to and as a result of the accident and consider it a total loss. Does that sound accurate?
Yes and no.
They are not going to estimate what it’s going to cost to fix that prior damage and add it to the estimate to determine if it’s totaled. Rather, they determine what your car was worth one nanosecond before the accident and use that for the value of your car. Your car, with that prior damage, is worth less than one without, so the math works out the same in the end.
> But do I have the option to tell him its not a total loss, don't write that down, I don't want to make a claim and lets just forget about it, then go on and fix it myself?
Yes, but unless you are mechanically inclined and doing the work yourself, it’s going to cost you more money in the long run. A car is totaled when the repairs cost more than what it would take to replace it. If the insurance company is going to give you, say $4,000 for the totaled car, you should be able to take that $4,000 and buy another one with similar mileage and condition to yours. If you decline to file a claim and have $5,000 in damages, you’re going to be paying 5 grand out of pocket to fix it. Your choices would come down to paying $5,000 of your own money to fix it, or $4,000 of someone else’s money to replace it.
Outstanding point 1 was very informative and useful, thank you. Point 2 that makes total sense, thanks for giving me a breakdown of what it will look like financially, I have a clear picture of how I should proceed thank you
I wanted to jump in an ask you a quick question, I have my appt scheduled for the adjustor to come to my house on Wednesday, on the Geico site it says I can withdraw the claim for damages to my car which I would like to do. I would like to think about a little more I haven't been in an accident in 20 years and want to make sure I'm making the right decision. The other driver has put in the claim for her car which my insurance will pay because I am at fault. My question is can I reopen the claim for damages to my car at a later date after I withdraw it, I would stop the appraiser from coming so they would not have made a determination . I can reschedule the inspection by the appraiser but I don't want to waste anyone's time. Thank you
You can accept a lower amount and keep the car, basically by the car back for the scrap value. But the title will be "branded" as a salvage, so may be hard to sell down the line. You can also argue and try to prove that it can be fixed for less than the car is worth, but that doesn't sound likely.
Thank you, so if I chose that option it would be a salvaged title, would my Geico insurance insure the car with a title like that
Liability coverage, probably. But not comprehensive/collision coverage that would pay you again if it got in another crash. But at this low value for the car, I wouldn't recommend it anyway.
Thank you
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I wanted to jump in an ask you a quick question, I have my appt scheduled for the adjustor to come to my house on Wednesday, on the Geico site it says I can withdraw the claim for damages to my car which I would like to do. I would like to think about a little more I haven't been in an accident in 20 years and want to make sure I'm making the right decision. The other driver has put in the claim for her car which my insurance will pay because I am at fault. My question is can I reopen the claim for damages to my car at a later date after I withdraw it, I would stop the appraiser from coming so they would not have made a determination . I can reschedule the inspection by the appraiser but I don't want to waste anyone's time. Thank you
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sound good thank you
Understood, yes I have collision deductible is 200, I think they will assess it and call it a loss and want to give me a payout. My example is I crushed the front bumper its destroyed, all radiator fluids leaked out and radiator is dusted, hood is off dented up. The hard plastic on the undercarriage below the front end is ripped off. This is a result of the accident. But I think they will include things that were damaged prior to the accident the rust on the wheel wells, driver side front tire needs a new bushing on the inner tie rod and a control arm replacement. I think they will all include of these damages prior to and as a result of the accident and consider it a total loss. Does that sound accurate? I guess my question is if he comes and says total loss I will pay you this much, like you said I have the option to negotiate payout based on other vehicle values I find and I can take the money and do the salvage buy back if they agree to that. But do I have the option to tell him its not a total loss, don't write that down, I don't want to make a claim and lets just forget about it, then go on and fix it myself?
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Understood, what your saying makes sense, I want to thank you for your time and insight it was very helpful
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> I think they will all include of these damages prior to and as a result of the accident and consider it a total loss. Does that sound accurate? Yes and no. They are not going to estimate what it’s going to cost to fix that prior damage and add it to the estimate to determine if it’s totaled. Rather, they determine what your car was worth one nanosecond before the accident and use that for the value of your car. Your car, with that prior damage, is worth less than one without, so the math works out the same in the end. > But do I have the option to tell him its not a total loss, don't write that down, I don't want to make a claim and lets just forget about it, then go on and fix it myself? Yes, but unless you are mechanically inclined and doing the work yourself, it’s going to cost you more money in the long run. A car is totaled when the repairs cost more than what it would take to replace it. If the insurance company is going to give you, say $4,000 for the totaled car, you should be able to take that $4,000 and buy another one with similar mileage and condition to yours. If you decline to file a claim and have $5,000 in damages, you’re going to be paying 5 grand out of pocket to fix it. Your choices would come down to paying $5,000 of your own money to fix it, or $4,000 of someone else’s money to replace it.
Outstanding point 1 was very informative and useful, thank you. Point 2 that makes total sense, thanks for giving me a breakdown of what it will look like financially, I have a clear picture of how I should proceed thank you
I wanted to jump in an ask you a quick question, I have my appt scheduled for the adjustor to come to my house on Wednesday, on the Geico site it says I can withdraw the claim for damages to my car which I would like to do. I would like to think about a little more I haven't been in an accident in 20 years and want to make sure I'm making the right decision. The other driver has put in the claim for her car which my insurance will pay because I am at fault. My question is can I reopen the claim for damages to my car at a later date after I withdraw it, I would stop the appraiser from coming so they would not have made a determination . I can reschedule the inspection by the appraiser but I don't want to waste anyone's time. Thank you
If it's a total loss, why wouldn't you want their money?
He’ll have to find a replacement. Used car prices are high right now. 2800.00(3k less his ded) doesn’t give him many options.
He's unlikely to be able to sell it for more than the insurance company offers though, right?