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total loss- can i keep the car

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Posted: Tue Jul 19, 2011 7:49 am   Post subject: my car   My tire blew on the freeway and Thu insurance companny is declairing my vehichle a lotal loss but the vehichle is still drivable just needs tire and rim, I decided 2 keep the vehichle(afg)is 7250 but since I'm keeping it they offered me 5060 and sent me that check but the check was made 2 me and myender (westlake financial services) my bank won't let me cash the check cus its a 2 party check do I have 2 pay off the lender imediatley or can I have state farm wright me another check and fix the vehichle at my leasure/ try 2 find a cheaper repOrt shop????? If any1 knows please let me know cus I was expecting that check 2day and it came but couldn't cash it and I've been driving on a donuts tire and a tire going flat for over a week know _________________ Register Now to have your Insurance queries solved.	rj Guest
Posted: Tue Jul 19, 2011 10:49 am   Post subject:    The insurance company has done what is required. Your lender wants you to keep the vehicle in running condition, and you will breach your loan contract if you fail to maintain the vehicle. So before they will simply let you have the money, you have to demonstrate that the repairs are (1) currently in process with a scheduled completion date, or (2) the repairs have been completed. There must be other significant damage to the vehicle besides a rim and a tire for any insurance company to total the vehicle and be willing to pay $5000. There is probably fender/body damage and frame damage as well to get to that amount of money. A tire and a rim might be $250-$300 (unless we're talking about a custom wheel that might be a few hundred dollars more). _________________ CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers.	MaxHerr Moderator Joined: 29 Nov 2009 Posts: 4618 Location: Pomona CA 208.83 Dollars($)

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