by ksomers » Tue Oct 30, 2007 06:31 pm
Found a law applying to the state I live in which says:
"If an insurance company pays a claim which is less than a total loss but the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of the fair market value of the vehicle any holder of the certificate of title for the vehicle shall return the certificate of title to the Oklahoma Tax Commission or a motor license agent within thirty (30) days from receipt of payment of loss. Upon receipt of the certificate, the Tax Commission or motor license agent shall issue a salvaged title for the vehicle"
So, can the "at fault" parties insurance company FORCE me into having a SALVAGED title. If I do NOT turn the vehicle in for inspection etc to have it retitled I would be guilty of a misdemeanor in this state.
"If an insurance company pays a claim which is less than a total loss but the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of the fair market value of the vehicle any holder of the certificate of title for the vehicle shall return the certificate of title to the Oklahoma Tax Commission or a motor license agent within thirty (30) days from receipt of payment of loss. Upon receipt of the certificate, the Tax Commission or motor license agent shall issue a salvaged title for the vehicle"
So, can the "at fault" parties insurance company FORCE me into having a SALVAGED title. If I do NOT turn the vehicle in for inspection etc to have it retitled I would be guilty of a misdemeanor in this state.
Posted: Wed Oct 31, 2007 03:29 pm Post Subject:
WOW! That's a new one on me.........I think you should promptly contact your state's dept of insurance, and talk to the comsumer advocate there. Make sure (for one thing) that this is still in effect.......I've never heard of branding a title when it did not reach the total loss thresold, I however, have never worked in OK either.....Also who is responsible for notifiying them you? It has already went past the thirty days has it not? Ask your state farm adjuster as well....This is an odd one..... :?
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