Salvage vs retain

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Posted: Wed Dec 17, 2008 10:14 pm Post subject: Salvage vs retain

reply to Lori Moderator, a person driving a state vehicle (campus) hit and damage my daughter's 92 volvo. Yes it is an older model, but these cars are build to last and the engine is in top shape. We have taken good care of the car and its is very reliable. We recently had $1500 suspension work on this car plus new tires a year ago. If the other insurance company totals the car, are the obligated to reimberse us for these expenditures which do add value to the car? Most of the damage is to the front and back bumpers. Is there anything else we can do? _________________ Register Now to have your Insurance queries solved.

upsetintx

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Posted: Thu Dec 18, 2008 12:29 pm Post subject:

Upset...good morning...I agree with you that volvo's a very well built quality car, one of it's down falls that you have no doubt figured out...is their parts are nightmares! (prices, and availability)..

Quote:

We recently had $1500 suspension work on this car plus new tires a year ago. If the other insurance company totals the car, are the obligated to reimberse us for these expenditures which do add value to the car?

Wow 1500? for suspension? what did you have done? Here's the deal although I understand your point, it truly does NOT increase the value...a vehicle is valued assuming it is in good running order...now are there parts of this 1500 that 'may' be allow but it's doubtful..as to the tires, whatever is above 50% tread you may be able to get added to the value...

If you'd like post the yr/make/mode/mileage/all options/ and any unrepaired prior damage, (the VIN is also helpful) and I'll run a value for you so you can see where that is..those darn volvo's are a pain to work on instead of having about 4 or 5 total pieces for the bumpers, they have about 50 it's nuts...are the bumpers damaged badly enough that you think they will require replacement or have you got an estimate of repair yet?

Quote:

Most of the damage is to the front and back bumpers. Is there anything else we can do?

You can find out the amount of damage, and also the value of your vehicle...prior unrepaired damage can cause some deduction from the value although a vehicle this old it would have to be glaring damage...I assume the title is clear and not a prior salvage title? Are you interested in keeping the vehicle if it does total ? (buying it back)...if so you might want to check your states dmv site to see what is required of you (if anything) to keep it, and if there will be a branding of the title...again if you want I'll be happy to run a value for you...(also include your state)...
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.

Lori

Moderator