What happens when insurance totals your car?

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Опубликовано:

15 сен 2024

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Комментарии : 66

@Encephalitisify 3 года назад

So basically, this is all a big scam. People who don’t know better accept some ridiculously low ball value for their car, which I bet if you checked the current retail value, is three times that amount. Some one gets your car from the junkyard, fixes it for a couple of thousand, then sells it at three times the amount the insurance company gave you.

@BamaTony73 2 года назад

Something like that......unfortunately

@valleygirl2530 Год назад

Exactly. I refused the offer. But they still blame “state laws”. Horsepucky.

@sheliafarmer Год назад

What this guy not telling you is you don't sign your rights away with the insurance company, insurance company CAN NOT TOTAL YOUR CAR WITHOUT YOUR PERMISSION

@acemkeup_6955 2 года назад

A friend of mine got in an car accident. If the verdict determines that my friend is at fault and the car is totaled, how do we go about this situation. Mind sharing your two sense? Thank you.

@aquinoloayza8822 2 года назад

I have had a nightmare experience with geico in Leominster Massachusetts. Their Auto adjuster has cut so many corners it's insane.

@BLACKMONGOOSE13 Год назад

Geico and progressive are famous for that.

@beforeal580 3 года назад

Thanks mark I was trying to find out why do you got to even by the vehicle back wasn’t that your car in the first place

@ThinkInsurance 3 года назад

It was but when it gets totaled, the insurance essentially buys off your damaged vehicle. The title will be transferred to them to salvage. Then you have the option to re-buy it back.

@viyau10 2 года назад

Very informative. Subscribed

@LALAKERS24fan1 3 года назад

My car was just deemed a total loss. The value is $10,700 but the salvaged value is $7,300 do I get the $7300 or the difference between the 2??? I plan on keeping the car. They estimated the damage at 8,100. But I already got it completely fixed for $3000.

@ThinkInsurance 3 года назад

You only are given the salvage price if it was previously salvaged prior to your accident otherwise, they will estimate the value and pay based on that calculation. You’ll will need the buy the car back from them at an agreed amount. It’s usually pretty cheap IF they allow you to buy it back.

@montanak7 Год назад

@@ThinkInsurance do I have to let them tow it three counties over to the junkyard/auction house to buy it back? It’s in my driveway. They deemed it totaled without ever seeing it in person. I am buying it back but I don’t want it towed. I already put a new hood on it and it drives perfectly. Can I do the buyback without relinquishing possession of my car? My insurance company is saying I can’t.

@ThinkInsurance Год назад

It’s up to the insurance company. However much they value the car at minus your deductible is what you can expect money wise. I can’t imagine if they’ve allowed you to buy it back that they would need to tow it and pay extra for nothing. If they total it and you sign the title to them, legally they own it. They can do what they want until you take ownership again. You may have to go up the chain to figure that part out.

@montanak7 Год назад

@@ThinkInsurance they told me it had $5000 worth of damage. And they offered 11,000 with a 3,000 buy back…. My state of Florida has totaled if it’s 80% damaged. But they said it was because of the age. It’s a fourth generation Toyota 4Runner XSP. Low miles road kept. They wouldn’t even go by the states own ratio. And they only gave me $500 for everything that the XSP stock Florida only package contains ….I told him that wouldn’t even buy my Lugnuts. Having said that, I have no idea why they want to tow it… buts it’s Progresive and I have caught them in sooooo many lies. I’m on my 3rd adjuster. It’s been over a year I’m still fighting them. I really want to fight it being totaled at all. But I’ll settle for a salvage title if I don’t have to let them tow it.

@ThinkInsurance Год назад

There’s a lot going on in your specific situation. I don’t see where they will cater one way or the other based on what you typed. It’s the insurance companies call to total a car or fix it but if you can’t come to an agreement, you may need to get legal advice. 😔

@Christine-ws2th Год назад

I got into incident recently my car is Ford escape 2018 130km and as far as I researched the market value runs to 16-18k and the insurance estimate the damage 9,600 can i file sa total loss for this one? They just want to fix it but it was clearly loss on my side im not at fault i also have police report.

@alexanderlegassick619 4 года назад

I'm 20 years old, from Massachusetts, will be driving a used Ford F350 utility truck. What insurance do you recommend? Thanks

@ThinkInsurance 4 года назад

Geico and Plymouth Rock are two decent options to start with

@valleygirl2530 Год назад

My insurance just decided to total my car. Bad decision on their part. The first comp claim on a low mileage 20 year old GOOD BMW. I’m Super Mad at the way they DID NOT TAKE CARE of me at all. Car is fixed after $4K repairs. Perfect. NOW what? Oh it’s USAA and they Suck at customer care and service. Horrible company.

@richardterroni9433 5 месяцев назад

This is why I hate insurance

@vulturetv7865 4 года назад

What is your cpm for videos like this?

@nycupperes 2 года назад

I’m wondering if my 2011 BMW 328i Convertible was hit in the front by a teen distracted driver will be totaled? All air bags deployed, I was going 26.2 mph in a 35 mph zone. 100% teen drivers fault, none to me. Front damage, left fender crack, driver window blew out, windshield cracked, seatbelts need replacement I’m told, and hood slightly bent, and passenger door wasn’t closing properly. In addition to air bags, BMW convertible deployed the rear head rest roll over bars. Visually, the car does look mostly ok, other than damaged mentioned. I’m writing this in February 2022 while car chip shorthand prices are highly inflated for any replacement. I did slam on my brakes for a second of so, when the distracted teen jumped the stop sign, I had right of way and police report said “no fault” to me. Will my insurance company total my car? I have collision coverage.

@ThinkInsurance 2 года назад

Typically if the damage is close to or above 70% of the value of the car they’ll total it.

@sitorp116 2 года назад

I have a 2011 328xi coupe that got recently hit by a cop. The damage was pretty much the drivers side door and rocker panel. Estimate damage of the vehicle from a certified BMW body shop was a little over $5000. The city insurance agent wants to deem my car as a total loss. Guessing from the damage you described on your BMW I’m pretty sure the instance company will want to deem your vehicle as a total loss as well 🤷‍♂️

@nycupperes 2 года назад

@@sitorp116 Correct, the insurance company wrote the damage up to total my car, and because of the 2022 inflated prices paid me more than I purchased the car for.

@sitorp116 2 года назад

@@nycupperes if you don’t mind me asking how much did they give you?

@nycupperes 2 года назад

@@sitorp116 $21k for a car I purchased pre Covid for $14k. I’m still waiting for my insurance to recover the $500 collision deductible in surrogation from the other insured. She ran a stop 🛑 sign and the police even had video and showed her 100% at fault.

@tonynelson8082 2 года назад

I got rear ended and the insurance company is offering 3800 I payed 3000 for the car how much do you think it would cost me to buy it back and do I still get the 3800 if I do buy it back. My insurance hasn’t gotten back to me on that question

@ThinkInsurance 2 года назад

Yes, they’ll still give you the full $3,800 plus if they allow it, they’ll probably sell it back for approx $1,500 or less. Whatever they estimate they would get at an auction.

@tonynelson8082 2 года назад

@@ThinkInsurance alright thank you for the info I’m only 18 and nobody helps me out with this stuff so I appreciate it a lot

@daniellewallace2047 11 месяцев назад

So igot my car stolen and it was a total loss so i cant get money for a new car!?!

@ingridvelasquez6186 2 года назад

Hello, My car had a salvage title previously prior to my accident, the other drivers insurance said I will retained my total loss car and sent me a check. I never agreed on the amount either. Don't I have an option to buy it back or sale it to the insurance?? I don't want the car. Why they made that decision? I asked they said they don't keep 3rd party!! Help. I have not cash the check, Arizona.

@ThinkInsurance 2 года назад

Not always. If you claim the car and it’s a total loss they own the car. It varies from one state to the next. If you call the insurance company they will likely allow you to buy it back. They don’t want it, they’ll likely put it in an auction. Copart is where a lot of them go. If it does you can buy it at auction. If you don’t agree with the amount they paid you, don’t cash the check. Call the adjuster and discuss it with them

@ingridvelasquez6186 2 года назад

@@ThinkInsurance I never claim to keep my car. I don’t want to buy the car. The insurance told me I need to retain my vehicle.

@ThinkInsurance 2 года назад

Ah, ok. I apologize, your text is difficult to read and understand. So it sounds like they’re not paying you as a total loss then. They’re only paying the estimated amount for repairs. If that’s the case, they don’t have to take the vehicle. You can do what you want with the money. Sell the car, buy a new one of fix it. It’s up to you at that point. If you have a loan on the car you likely have a contract that says you need to pay that off first but that’s between you and the loan company.

@albieoval1657 3 года назад

The buy back option for the total loss car scenario yiou gave is based off comprehensive coverage. What about a $3,500 uninsured motorist insurance. Estimated 7 grand to fix. Would I be able to buy back my car?

@ThinkInsurance 3 года назад

The buy back would allow you to buy back the car in any event it was totaled in. If you’re in Michigan where this is an option you select there is not uninsured motorist property damage. You would need comp/collision to claim it. Also, in MI there is a mini-tort that is now $3,000 you can go after the other party for.

@j718wn Год назад

Will a insurance company still pay you for a car deemed salvaged

@ThinkInsurance Год назад

if it’s salvaged when you buy it, I don’t believe so. Most to all companies won’t allow you to have comprehensive and collision. Once it’s rebuilt, you have options.

@Beautifuluproductions Год назад

Insurance adjuster came to our house for the damage

@zipporahfernandez1530 3 года назад

Hello so I'm just going to get right to it.. Its been very rainy where I live and I was on my way to work a I crashed my 2013 chrysler 300. I'm waiting for the insurance to deem it totalled but I am more that positive its totalled. When I purchased this car I was very young and I had no idea what gap insurance was so I do not have gap but I do have full coverage insurance. My question is if I get a new car does that mean I have to make two payments a month or will the remainder of my 300 be rolled over to my new car and its going to take me longer to pay off everything? Please I really need advice Thank you in advance

@ThinkInsurance 3 года назад

What will happen is since you have a loan on the car, the insurance will pay the covered amount towards the loan. You will still make payments on any remainder amount l as you normally would. If you but a new car, it’s up to the dealership if they will allow you to roll the amount owed from your last car into the new loan. I would imagine they will but it’s all in the dealerships finance department at this point. Let me know if that makes sense

@willjc32 2 года назад

What if someone smash your parked car and you still owe payments on that car?

@ThinkInsurance 2 года назад

You’re still required to pay off the car. If the title isn’t released then it won’t go to an auction. If you purchased GAP insurance, then that remaining balance would be paid off through GAP.

@willjc32 2 года назад

@@ThinkInsurance it doesn't have a title because they won't won't be paid for till 2026 they won't 30k for a 2014 Toyota Camry which I still owe like 27k on it! I only have liability insurance threw state farm Dallas tx

@BigSleepyFloyd 3 года назад

My gf got into a accident to where a car smashed into a car and the car that was smashed hit her from behind as she was at a stop light... The car was totaled and she has a rental since the accident plus I pay her insurance for her... I'm asking do I still have to pay insurance for a totaled car and even if we have a rental that has to go back do you have to pay insurance to have a rental... she had liability btw... I'm thinking she pocketing my money what do you think?? Thanks I'm trying to

@ThinkInsurance 3 года назад

Depending on what state you are in it usually makes sense to keep the insurance if you’re planning on getting another vehicle soon. Most policies liability will cover rental cars so that’s another reason to keep it. When she gets a new car all she has to do is add it to the active policy vs starting all over. She’ll lose the longevity and prior insurance discount if you cancel it now and try to start it back up a day or more later. If she’s not getting another car then yes, cancel. Maybe get a non owner policy to cover the liability on the rental or future cars she’ll drive if she wants some type of insurance

@shaded_deity5146 3 года назад

im 20 from pennsylvania, i bought my car for $11,100, recently got into an accident, was not at fault, my 2014 Honda accord was deemed totaled and it had 110,000 miles what would you say it was worth

@ThinkInsurance 3 года назад

You can look up the value on kbb.com and nada.com

@Encephalitisify 3 года назад

Right now, your car sells for 20,000 dollars. I bet they only gave you 5 k max for it.

@frankcalderon6813 2 года назад

@@Encephalitisify can you get more out of ..? Or maybe you had 7000$ payments done already on a 27k$ car ..?

@sheliafarmer Год назад

THEY CAN NOT FORCE YOU TO TOTAL YOUR CAR, MY INSURANCE COMPANY HAS THREATENED ME, NEVER BEEN MY HOUSE LOOK AT MY CAR, I HAVE $3,000 WORK PUT IN CAR OVER 4 YEAR PERIOD , MY MACHANIC SAID MY CAR IS TOTAL FIXABLE, MINUMAL DAMAGE, INSURANCE COMPANY TOLD ME NO MATTER HOW MUCH FACTS AND EVIDENCE I HAVE THEY DON'T CARE, I SUING FOR NEGLIGENCE OF MY INSURANCE, THREATENING, AND COHERCING A CLIENT INTO TAKING THEIR OPION

@sheliafarmer Год назад

A INSURANCE COMPANY CAN NOT TOTAL YOUR CAR WITH OUT YOUR PERMISSION, INSURANCE COMPANY HAS NEVER COME TO MY HOUSE, I HAD MR CAR LOOKED AT BY A MECHANIC THERE VERY LITTLE DAMAGE, ALSO IN A COURT OF LAW EVERY BS YOUR NAMING IS THEIR OPINION NOT A FACT, WARNING YOU NEVER SIGNED A CONTRACT WITH INSURANCE TO SIGN YOU RIGHTS AWAY