Re: Wife smashed our '89: explain buying back from insur. co. - Saab 900 Bulletin Board - Saabnet.com
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Re: Wife smashed our '89: explain buying back from insur. co.
Posted by Todd C. [Email] (more from Todd C.) on Thu, 2 Nov 2000 00:34:09
In Reply to: Wife smashed our '89: explain buying back from insur. co., JSC, Wed, 1 Nov 2000 20:07:12
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First off lets hope that no one was hurt.
In my case when SCANIA was totaled the insurance company gave me the full appraised value (not book) for the car minus the salvage value becuse I kept it. Keep in mind that the insurance company can if they want to put up to 75% of the cars value into it for repair. For a car worth 3k you may want to let them keep it & look for a replacement. Another option is to search the classifieds for cars that are the same year & model & see what they sold for. If it was higher than book then us that as leverage to get more out of your car.
One other thing to fight insurance w/ if you want it totaled is the loss in value your car will have once it is repaired. That was the deciding factor w/ mine. We are currently using this to try to get my Grand mothers 98 Benz 320E totaled. The appraisal estimates that her car will loose 10k from its book value once it is repaired. The current repair cost is about 15k. She was rear ended by a kid doing about 50mph in a school zone while she was stopped to make a left turn. And of all things this happened just 25 yards from police attending to another accident.
I know that insurance companies are no fun to deal w/ believe me. So good luck.
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