Total loss insurance claim?
Recently i had an accident, there is extensive body damage (Roll over), but the Cars vital components such as engine/tranny/axles/tires, are still functional, and the vehicle still drives perfectly, except for the bent upper Roll Cage. Its a jeep TJ
Due to the body damage/ roll cage / windshield, im quite sure they will write it off as a total loss, but I would like to keep the vehicle after for spare parts, as well as to keep some of the after market modifications I installed, 33inch tires / 4 inch lift kit.
Do they allow the person claiming the insurance to purchase the “Wrecked vehicle” ? would it be purchased at the scrapyard value?
I currently have the vehicle parked at a friends place, and am awaiting the Adjuster to come take a look at it.
im also wondering if they will take into account the mileage on the car, it was quite low mileage at only 120, and i see similar vehicles for sale at around 8500$, so is this the price i should be expecting?
Whether or not you can keep the car depends on the laws in your state, and each one of them are different. Generally, however, if it’s possible insurance companies will allow this. They will deduct the salvage value of the vehicle from the total loss settlement. In other words they’ll subtract what the car was worth AFTER the accident from what is was worth BEFORE the accident.
The previous poster was wrong about salvage value. It’s usually determined by actual competitive bids from salvage buyers and takes into account everything about the condition of your car. Salvage value does NOT start at $500 and go up. It all depends on the desirability and post accident condition of your vehicle. A brand new car that was burned up might have $0 in salvage value while a beat up and barely running hard to find older car might have much more. A good indicator to salvage value is how many body panels are intact because body panels generate the most income for the salvage yards.
You can take all the parts off the car you want because it’s still your car. Bear in mind though that the parts might add to the salvage value and if you don’t end up keeping the car the company is within its rights to deduct the salvage value of those parts from the settlement. The best thing to do is find out from the adjuster if you can retain the salvage. If so, no problem. If not, tell him which parts you want to keep. Do this BEFORE they have the car towed to a salvage yard. After that it gets much more complicated.
Also, the previous poster was incorrect about the modifications to your car needing to be “scheduled” on your policy to be covered. All of the functional improvements you listed go to establishing the value of your car and should be pointed out to the appraiser when he looks at your car. They will act to increase both the pre and post accident value of your car.
One final point. If it’s declared a total loss and you keep it, chances are almost certain that you’ll never be able to fix it up and put it back on the road. At least not legally. Most states have made major changes to how salvage titles are handled and while there are ways around it, it generally involves fraud and should be discouraged. Spare parts, yes. Rebuilding, no.
(20 years claims veteran with the scars to prove it)
Chevrolet Camaro SSX & Corvette ZO6X Concept
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