 Posted: Fri Jul 09, 2010 2:31 pm Post subject: |
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OP, most states allow an owner to 'retain salvage' or 'buy back' their totaled vehicle for the salvage value.
If you don't know how much they have determined your vehicles ACV (actual cash value), and how much the salvage is worth you really can't make a decision yet.
If you want to keep your beloved vehicle then you certainly can. You'll just need to negotiate that salvage value. Before you agree to retaining it however, have it checked by your body shop to see how much it will cost you to repair. If you can't swing it with the money the insurance company will give you, then you may need to make a different decision.
As to getting comp/collision back on the vehicle, most carriers will allow this once it's repaired (many even if not repaired  ). You'll need to check with your carrier on that.
OP, understand what I'm posting applys to the US, where are you located?
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Lori
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