Buying Your Vehicle Back Following A Car Accident Or Motorcycle
Another option on a totaled vehicle is to buy it back from the insurance
company. You get the fair market value, less the salvage value. The
insurance company figures the amount of money they would receive from a
salvage yard. You would pay that amount by having it deducted from the
total value of the damages, and then you can have your car repaired at your
expense. In those circumstances, your car is generally re-titled so that
the title shows the car had at one time been deemed a total loss. When you
receive the cash, it is your responsibility to clear up towing, storage and
repair costs and dispose of or repair the car.
This online tip is for our SCC members who desire to use a do-it-yourself
or self-help approach to the settlement of their personal injury claims,
whether that personal injury claim is a result of a dog bite, car accident
, motorcycle accident or some other type of personal injury accident .