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22.7.14 2027
The W - Random - Car insurance question
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StaggerLee
Scrapple








Since: 3.10.02
From: Right side of the tracks

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#1 Posted on | Instant Rating: 2.36
I am never disappointed when I ask for advice/information here on the W, so hopefully somebody will know the answer.

Here's the scoop. My car was previously (before I bought it) totalled for a front end collision.

I bought it, it came with a salvage title, meaning it had been totalled, but it was in perfect shape when I bought it.


Somebody has rear ended me, causing the car to be borderline of being totalled out by the insurance company again.

Now, my question is, does the PREVIOUS accident/salvage title status mean that I wont get the full blue book value/ or replacement value for my car?

I've looked online and cant find any answers. The insurance company of the person who hit me is paying for everything. So, I dont have to file a claim on MY insurance at all. But, I am worried they wont give me enough money since it had been totalled before.

Anybody have any experience with this sort of thing?
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RYDER FAKIN
Six Degrees of Me








Since: 21.2.02
From: ORLANDO

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#2 Posted on | Instant Rating: 8.29
SON OF A BITCH! I looked you up on the "Where in the W...orld is (your name here)"!! SOMEONE was thinking outside the box that day!

(of course, I could have looked in the "from" or "location" section, but I'm not buying some people are from "The Outer Limits of Wrath and Doom". 'Cept F'N Shapiro, of course. That W...orld thing is right on the money)

check this out

Click Here (insurance.mo.gov)

FLEA



Demonstrations are a drag. Besides, we're much too high

1ryderfakin.com - THE IWC 100! And The Wrestling Dead Pool!! - next cash prize is $200! PLAY TO WIN!!!
StaggerLee
Scrapple








Since: 3.10.02
From: Right side of the tracks

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Y!:
#3 Posted on | Instant Rating: 2.36
Thanks for the link, but I still didnt see anything that relates directly to the particular problem.


I hope I just dont end up getting screwed on this deal.
Guru Zim
SQL Dejection
Administrator








Since: 9.12.01
From: Bay City, OR

Since last post: 18 days
Last activity: 9 hours
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#4 Posted on | Instant Rating: 8.81
    Originally posted by RYDER FAKIN
    SON OF A BITCH! I looked you up on the "Where in the W...orld is (your name here)"!! SOMEONE was thinking outside the box that day!

    (of course, I could have looked in the "from" or "location" section, but I'm not buying some people are from "The Outer Limits of Wrath and Doom". 'Cept F'N Shapiro, of course. That W...orld thing is right on the money)

    check this out

    Click Here (insurance.mo.gov)

    FLEA



Dammit FLEA, you beta tested this feature



Ignorance is bliss for you, hell for me.
The Guinness.
Bockwurst








Since: 24.4.05
From: San Diego, CA

Since last post: 3 days
Last activity: 3 hours
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#5 Posted on | Instant Rating: 2.64
    Originally posted by StaggerLee
    Now, my question is, does the PREVIOUS accident/salvage title status mean that I wont get the full blue book value/ or replacement value for my car?



No.

Totaled/Salvage (as far as insurance goes) means: damages exceed the value of the vehicle.

When the vehicle was totaled in the previous accident.... that was the case Damages > Value.


If the vehicle was restored after it was salvaged (owner's option after buying the vehicle back) you have essentially lost NO value to the vehicle.

Insurance + out of pocket expense = restored vehicle back to the same condition.


So, in short, as long as the damages are less than the value of the vehicle (after being restored to "perfect" condition) you should be alright, especially if the accident was a minor accident.

Make sense (I hope it does....it's my field, so I hope I learnt somethang about it). If not I'll try to provide more info when I am sober :-)



"Why are you wearing that stupid man suit?" -Donnie Darko
Mr Heel II
Lap cheong








Since: 25.2.02

Since last post: 11 days
Last activity: 7 hours
#6 Posted on | Instant Rating: 5.67
    Originally posted by StaggerLee
    Thanks for the link, but I still didnt see anything that relates directly to the particular problem. I hope I just dont end up getting screwed on this deal.
It will depend on your opinion of getting screwed. To give you the "point blank" answer to your question, yes, the salvage title will greatly affect what you get for your car. Kelly Blue Book specifically addresses this in a FAQ on their website:

(Q) My car is in good condition, but has a "salvage" title. How does that affect the value? (A) A salvaged title does have a negative effect on the value of a vehicle. The industry standard uses a rule of thumb to deduct 50% of the value and in some cases even more.

But if the insurance company is going to FIX your car, I would think this from Flea's link would apply.

(Q) Can an insurance company write an estimate using parts not made by the original manufacturer or salvage parts? (A) Yes, they do not have to put new parts on a used vehicle. A company only has to return the vehicle to its condition before the damage.

So if they fix the car, I take this information to mean that the insurance company is obligated to give you back a well running slightly more salvaged car.
too-old-now
Bockwurst








Since: 7.1.04

Since last post: 1206 days
Last activity: 131 days
#7 Posted on | Instant Rating: 6.63
I agree with Mr. Heel II's comments - I'd just add that if the damage was your fault you might be in for more of a hassle. If it were your own insurance paying then they are more likely to look more closely at how much damage is there, compared to what the vehicle was worth (immediately before you got rear-ended), on a salvage title basis. They might be more inclined to say it was totalled.

Since the other party's insurance is responsible, they are more inclined to fix your vehicle based on normal blue-book value vs. salvage title value. They might hassle you, but with a little patience on your part you should be okay.

Let us know how it works out (and reassure us that nobody was hurt?).

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