I have a 2003 Black V6 Mustang that I used as a daily driver because it was better on gas. About a month ago, someone was speeding through a parking lot and dented the driver side quarter panel. We got an estimate for 2200, and it went into the body shop today. They called our insurance company telling them that the car is unsafe to drive and it should be totalled and dropped from the insurance. The reason for this is because before I bought it there was a salvage title on it and the previous repairs were done improperly and they failed to fix the frame as they should have. (It was very slightly bent/twisted). My question is, the insurance is now saying that they won't total it but they will leave it "as is". They offered to pay us $1,000 dollars for the car. My feeling is that a 2003 with 41,xxx miles would be worth atleast 5. Am I getting shafted?
Question about insurance totaling a car
- Thread starter IcE
- Start date
Your insurance company shouldnt be paying a dime at all. You insured a salvage title car with them and didnt notify them. The only way they might still pay it is because you insured it with good faith(didnt know it was salvage)
Didnt catch the guy who hit you? Where are they getting this $1k value from? How much would it cost to just fix the body not the frame? Try and work out that deal with them. I have a feeling if you put up a fuss they might tell you exactly what I said in the first sentence though
Didnt catch the guy who hit you? Where are they getting this $1k value from? How much would it cost to just fix the body not the frame? Try and work out that deal with them. I have a feeling if you put up a fuss they might tell you exactly what I said in the first sentence though
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We were unaware that is was a salvaged car. However, when we found out we called them and they looked into it but still let us insure it through them stating that there was no problem. That;s where I am confused. All of a sudden it is a big problem.
EDIT: They said they would give us the amount of the estimate in repairations. That is where the 1k is coming from minus the deductible.
EDIT: They said they would give us the amount of the estimate in repairations. That is where the 1k is coming from minus the deductible.
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Are you talking with an agent or adjuster? What company?
When you found out it was a salvage, you had already insured the car?(The previous owner didnt disclose to you that it was salvage title???) If you informed the company/agent that the car had a salvaged title and they said it was ok, then tell the adjuster this and let him know you will be getting a lawyer if they have a problem paying out the total loss. If they approved the policy after they knew it was salvage, then they are responsible.
Although you have been driving the car with a bent frame? So are you wanting them to total it out or just fix the body damage?
When you found out it was a salvage, you had already insured the car?(The previous owner didnt disclose to you that it was salvage title???) If you informed the company/agent that the car had a salvaged title and they said it was ok, then tell the adjuster this and let him know you will be getting a lawyer if they have a problem paying out the total loss. If they approved the policy after they knew it was salvage, then they are responsible.
Although you have been driving the car with a bent frame? So are you wanting them to total it out or just fix the body damage?
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You are correct, when we found out it was a salvage we had already had it insured for months, and we told them (the Insurance Agent) about it as soon as we found out. (The previous owner said nothing of this, and we were suprised by it) They still kept the car on the policy and everything was fine and we continued to pay for the insurance on the car with no problems. We would have preferred to have the car fixed, but we were informed that in order to correct the frame they would have to remove the engine, etc. (They said it would cost 10,000+) I am just trying to basically see if I should be getting compensated seeing as how their is still $4500 left on the loan, taking that hit for a car that is not even driveable would be pretty bad right now.
How do you not know you're buying a car with a salvaged title? And what bank finances a car with a salvaged title?
Not sure if they usually don't but like I said I got a loan and the insurance company let me insure it, dumb on my part, but I'm just looking for advice here. :shrug: (I know, I know, don't buy a salvage car and it wouldn't have happened)
For real, I'm not trying to bust your balls. I've never seen a bank that will finance a vehicle with a salvage title. Usually they check, and double check and triple check that stuff.
Hell, I just bought a Honda Civic for a daily and the bank wouldn't release funds to the dealer because they forgot to put the Jr. on the end of my name on the registration paperwork. I just can't see something major like a salvage title slipping past them.
Hell, I just bought a Honda Civic for a daily and the bank wouldn't release funds to the dealer because they forgot to put the Jr. on the end of my name on the registration paperwork. I just can't see something major like a salvage title slipping past them.
Wonder how it slipped by them then, I agree with you that they probably would not want to let a loan out for one. Maybe they didn't care this time, the whole thing is kinda weird. :shrug:
It sounds like the car was driveable with a bent frame. Id take the $1k to fix the damage and keep driving it. Then maybe part it out because it will be very hard to sell with a salvage title for anything near what you want
Whats the ins co's reason for not totalling out? If they say anything about you insured it with that problem, then you need a lawyer. Thats BS and they agreed to keep the policy in force after the fact
Whats the ins co's reason for not totalling out? If they say anything about you insured it with that problem, then you need a lawyer. Thats BS and they agreed to keep the policy in force after the fact
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did you carfax the car before you bought it?
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