The complete automotive resource for buyers, sellers, and owners like you.
Car, Truck and SUV Forums at Roadfly
+ Bentley Forums
+ BMW Forums
+ Cadillac Forums
+ Chevrolet Forums
+ Ferrari Forums
+ Jaguar Forums
+ Lamborghini Forums
+ Lotus Forums
+ Mercedes-Benz Forums
+ Maserati Forums
+ MINI Forums
+ Porsche Forums
+ General Discussion
+ Marketplace Forums
No, think about it... (archive)

[ Follow Ups ] [ E30 M3 Message Board ] [ Msg. Board FAQ ]

Posted by ptdaniel on August 28, 2001 at 12:44:43:

In Reply to: I think salvage occurs when damage = 80% of value posted by Jeff E on August 28, 2001 at 10:33:24:

If you own a car which is damaged, your policy is written so that the insurance company pays up to the insured value (presumably current market value) less your deductible. They will definitely pay for a repair as long as it is less than 100% of the car's value (you can demand that as the policy holder -- my insurance man just confirmed it). As long as you proceed with the repair then the title is never involved (no switch and/or buyback).

After all, if your insurance company was faced with two options: pay 80% of car's value to have it repaired vs. pay 100% of car's value and take on ownership, which do you think they would go for?

Now, are there perhaps some State laws which mandate a 'salvage' designation for high % damage? Maybe, I couldn't say about that (but I tend to doubt it)....

Follow Ups:

[ Follow Ups ] [ E30 M3 Message Board ] [ Msg. Board FAQ ]
Questions, comments, or problems, please visit the Roadfly help desk. Logo © 1997 - 2018 Jump Internet Inc. All rights reserved.