Car Insurance Question

[sswingle]

Ok, so I hit a deer saturday night. Body shop estimated about 2,000 to fix. Called used car places and are told that if it was fixed and we trade it in to get a new car, they would only give $1,500 towards trade in. Have a $1,000 deductible. The body shop assured us that there was no way the insurance company would total the car, even though it appears that it would cost more than it is worth.

So, we are going to talk to them tomorrow to find out, but I am impatient and decided I would get opinions here.

Will the insurance company be willing to write me a check for $1,000 and allow me to not fix the car, and then I can sell the car for scrap? I benefit a lot that way. If we are forced to fix it, they pay $1,000, I pay $1,000 deductible, its fixed, and I sell for $1,500, getting $500 out of the car once its all said and done. If I dont have to fix it, they give me their $1,000, and I sell the car for scrap, probably getting at least $500 out of it.

Sorry if thats confusing, its getting late
Anyone know if insurance companies are willing to do that?

 

[Cdubneeddeal]

Nope..they would have you fix it.

 

[sixone]

Do you own the car, or do you have a loan on it?

 

[sswingle]

Own it, no loan.

 

[Vic]

The insurance company adjuster will decide whether to total the car or have it fixed. If they decide to total it, you can ask for the option of buying it back. If they decide to repair it, you do not have to have it repaired, but can just take the money. In fact, it is my understanding that insurance companies prefer this, as that way they avoid the possibility of costly "supplements" later (whether the actual cost of repairs exceeded the initial estimate, which the insurance company can still be liable for). This varies by state though, but yeah you could just get a check for the estimate (minus deductible) and not fix the car. I know for a fact that people do this all the time. Body shop won't be happy though.

 

[sswingle]

Originally posted by: Vic
The insurance company adjuster will decide whether to total the car or have it fixed. If they decide to total it, you can ask for the option of buying it back. If they decide to repair it, you do not have to have it repaired, but can just take the money. In fact, it is my understanding that insurance companies prefer this, as that way they avoid the possibility of costly "supplements" later (whether the actual cost of repairs exceeded the initial estimate, which the insurance company can still be liable for). This varies by state though, but yeah you could just get a check for the estimate (minus deductible) and not fix the car. I know for a fact that people do this all the time. Body shop won't be happy though.

Thank you for a sensible thought out reply instead of a one line, "nope, cant do it"
This was what I was hoping for, and makes me happy. Can't wait to talk to them tomorrow.

 

[Cdubneeddeal]

Originally posted by: ScottSwingleComputers

Originally posted by: Vic
The insurance company adjuster will decide whether to total the car or have it fixed. If they decide to total it, you can ask for the option of buying it back. If they decide to repair it, you do not have to have it repaired, but can just take the money. In fact, it is my understanding that insurance companies prefer this, as that way they avoid the possibility of costly "supplements" later (whether the actual cost of repairs exceeded the initial estimate, which the insurance company can still be liable for). This varies by state though, but yeah you could just get a check for the estimate (minus deductible) and not fix the car. I know for a fact that people do this all the time. Body shop won't be happy though.

Thank you for a sensible thought out reply instead of a one line, "nope, cant do it"
This was what I was hoping for, and makes me happy. Can't wait to talk to them tomorrow.

Sorry..alcohol is clouding my judgement