Re #2 - Saab General Bulletin Board - Saabnet.com
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Re #2
Posted by Hood (more from Hood) on Sun, 15 Jun 2003 16:05:10
In Reply to: OT - Basic Car Insurance Questions, Mr. Science, Fri, 13 Jun 2003 20:10:57
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If they total it and write you a check, they take title to the car. That check is an amount equal to the market value of your car just before the accident, less whatever your deductible is.
If you want to keep the car, tell the insurance company that fact. If they let you keep the car (sometimes the policy will not let you keep the car, since the insurance company will try to salvage it for parts or whatever to get a small part of the their payout back again), you will keep the car and you will get a check for the insurance payment minus deductible minus what the insurance company believes is the salvage value of the car (which is also a little negotiable).
so, if your car is woth $10K when totalled, your deductible is $250, and salvage value is $500, you can ditch the car and get $9750 or keep the car and get $9250.
posted by 138.88.14...
Posts in this Thread:
- OT - Basic Car Insurance Questions, Mr. Science, Fri, 13 Jun 2003 20:10:57
- Re: OT - Basic Car Insurance Questions, Ari , Mon, 16 Jun 2003 10:38:58
- Re #2, Hood, Sun, 15 Jun 2003 16:05:10 <-- Viewing This Message
- Insurance companies pay retail....., Mike Lynch , Sat, 14 Jun 2003 13:46:05
- Re: OT - Basic Car Insurance Questions, lowbar, Sat, 14 Jun 2003 10:46:06
- Re: OT - Basic Car Insurance Questions, Randy Thatcher , Fri, 13 Jun 2003 20:53:05
- Thanks!, Mr. Science, Sat, 14 Jun 2003 05:31:24
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