If the car is a total loss & paid off can I keep the che

by Guest » Wed May 11, 2011 07:41 pm
Guest

My car was totaled out by my adjuster after a pretty bad hail storm. He said it would cost more to remove all the dents than the car is worth. If the car is a total loss and it is already paid off will I get to keep the check from the insurance company?

Total Comments: 2

Posted: Wed May 11, 2011 07:42 pm Post Subject:

If the vehicle has a free and clear title you can keep the check for yourself even if the car is not totaled. Since there is no bank involved with the financing all the money goes to you anyway. If the car is totaled out you can keep the check, you will just have the hail damage on your vehicle and a salvaged title. You will not be able to carry full coverage on the vehicle anymore if it is a salvaged title.

Posted: Thu May 12, 2011 10:29 am Post Subject:

You will not be able to carry full coverage on the vehicle anymore if it is a salvaged title.



That's why you need to think a bit! It would also be a bit "risky" to drive a salvaged car. Just think of what you'd face in the event you meet with an accident once again.

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