by Guest » Thu Jan 08, 2009 05:26 pm
I will try to be brief but provide all necessary details. I took my car to Wal-Mart to get a replacement tire, and it was very icy out that day. One of the techs ran my car into a pole, making a small but quite noticeable dent on the front corner panel. They admitted the issue was their fault and referred me to their insurance company.
I went to get two estimates at the request of their insurance company, both of which exceeded the value of my car. The lower estimate was about $2,100 and the value of my car is about $1,400. I talked to their claims person, who informed me that Iowa is a "salvage state" and that he will have to talk to another person about what to do. He mentioned something about getting a check for the value of my car and sending a copy of my title to the company beforehand.
I have done a little research but it is hard to find information for situations similar to mine. Most of the time, I find information about situations where the driver's own insurance company is paying the driver. In this case, it is Wal-Mart's insurance dealing with me because I was not at fault or even driving at the time.
The car is still perfectly fine to drive, as the damage is all cosmetic and has not impaired the operation of the headlights or any other functions needed for the car. The reason the cost to repair was so high is that they would have to replace an entire panel of the car.
My question is, will I have to give up the car to the insurance company to receive a settlement? What if I decide that I want to keep the car? Will that mean that I'm entitled to no damages from Wal-Mart? Finally, if I do keep the car and receive a settlement, will I be able to drive the car in Iowa with a salvage title?
Thanks in advance for all of your help!
I went to get two estimates at the request of their insurance company, both of which exceeded the value of my car. The lower estimate was about $2,100 and the value of my car is about $1,400. I talked to their claims person, who informed me that Iowa is a "salvage state" and that he will have to talk to another person about what to do. He mentioned something about getting a check for the value of my car and sending a copy of my title to the company beforehand.
I have done a little research but it is hard to find information for situations similar to mine. Most of the time, I find information about situations where the driver's own insurance company is paying the driver. In this case, it is Wal-Mart's insurance dealing with me because I was not at fault or even driving at the time.
The car is still perfectly fine to drive, as the damage is all cosmetic and has not impaired the operation of the headlights or any other functions needed for the car. The reason the cost to repair was so high is that they would have to replace an entire panel of the car.
My question is, will I have to give up the car to the insurance company to receive a settlement? What if I decide that I want to keep the car? Will that mean that I'm entitled to no damages from Wal-Mart? Finally, if I do keep the car and receive a settlement, will I be able to drive the car in Iowa with a salvage title?
Thanks in advance for all of your help!
Posted: Thu Jan 08, 2009 07:34 pm Post Subject:
Never mind, I was informed that due to the car being as old as it is (it's a 1997) that they can offer me the value of the car without taking possession of it or declaring it a salvage car. Thanks, anyway.
Posted: Fri Jan 09, 2009 02:35 am Post Subject:
This link will give you Pennsylvania's rules on salvage
http://www.dmv.org/pa-pennsylvania/salvaged-vehicles.php
Posted: Fri Jan 09, 2009 06:37 am Post Subject:
Hi!
Did you report this matter to your own insurance company?
I mean, did you inform your own carrier about what they are offering you?
Pinkfloydfan
Posted: Fri Jan 09, 2009 09:10 am Post Subject:
Never mind, I was informed that due to the car being as old as it is (it's a 1997) that they can offer me the value of the car without taking possession of it or declaring it a salvage car. Thanks, anyway.
Its nice to know that the things have got sorted out. However, I'd still request that you get it cleared from the DMV that whether or not you are allowed to drive the damaged car. It may still need to undergo certain examinations before an be declared roadworthy by the authority.
Good luck!!
Posted: Sun Jan 11, 2009 05:34 pm Post Subject:
Glad you got it handled, I actually knew the answer to this one darn it! :lol: I know Iowa doesn't require salvage stamping of titles after a certain age, I think 7 or 10 years old...so win/win for you...not so much for walmart or the tire jocky...wonder if he got fired? :(
Add your comment