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I can have the car fix for less than insurance adjuster says. can I take the money

Harvard, IL |

Th insurance company of the man who hit my parked car wants to total the car. Can I take the money and get it fixed somewhere cheaper?

Attorney Answers 8

Posted

The usual practice is for you or someone in your position to accept the total and then buy back the vehicle from the insurance company for salvage value. You can then have the vehicle repaired.

Mr. Padove is licensed to practice law in Illinois and Indiana. He can be contacted at Burtonap@aol.com (219) 836 2200. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Mr. Padove strongly advises the questioner to confer with an attorney in your state in order to ensure proper advice is received. If this information has been helpful, please indicate below.

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Posted

Probably. Most insurance companies will tell you what they will give you for the value of your car, subtract any "salvage" value for your car from that amount and will give you a check and allow you to retain the salvaged vehicle. They generally don't car what you do with the car as long as your claim is resolved and they are off the hook for any further payment on your property damage claim. If you have an injury claim as well I would be careful what you sign since you don't want to waive your rights to it as well.

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7 lawyers agree

Posted

Yes. Generally you are able to do that. However, you might find that the insurance company pays you less than full value in this instance. Best of luck.

I am licensed in California, therefore, my answers are based on general prinicpals of law or California law, which may not be applicable in your jurisdiction. Answers posted to Avvo are for general information only. Do not conclusively rely on any information posted online when deciding what to do about your case. Every case depends is fact dependent, and responses are limited to and is based on the information you posted. No attorney-client relationship shall be created through the use reading of this response on Avvo. You should never delay seeking legal advice, disregard legal advice, or commence or discontinue any legal action because of information in this response.

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4 lawyers agree

Posted

Yes, you can receive a total loss settlement and keep the car on what's called an "owner retain." The insurance company will deduct salvage value from what they pay you, i.e., the amount that they could get from a junk yard for the car. You may have to register the car with a salvage title depending on Illinois law.

Good luck.

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5 lawyers agree

Posted

As the others have said, generally, yes, you can do that.

I have seen some odd situations where there had to be submitted some proof of the vehicle's roadworthiness before they'd cut the check. Depends on the policy language.

Stephen L. Hoffman
Law Office of Stephen L. Hoffman LLC
Chicago, IL
773-944-9737
Email: stephen@hofflawyer.com
Website: www.hofflawyer.com
Blog: www.hofflawyer.com/blog/

This answer posted on Avvo is for informational and educational purposes only. There is no attorney-client relationship created or formed and you should not rely on this as legal advice. The suggestion is made that if you wish to protect your rights, you consult with an attorney immediately.

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4 lawyers agree

Posted

No. Mr. Padove is correct. If the insurance company "totals" the car, they will NOT give you that money unless you surrender the title. You then must buy the car back for the salvage value. All of this is taken into consideration when they decide to "total" the car.

If this information has been helpful, please indicate by clicking the up icon. Legal Disclaimer: Mr. Candiano is licensed to practice law in Illinois and Indiana. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Links: ccandiano@themargolisfirm.com http://www.themargolisfirm.com

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Posted

A person would typically sign over the title to the insurance company, and then work out a number to repurchase it.

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Posted

Consult with an attorney if you have been injured as many lawyers will handle the property damage claim at no cost as part of representing you in your personal injury matter. Insurance companies have been known to get information and might say we can't pay unless you give a statement. Property damage claims can present other issues such as loss of use compensation, substitute vehicle and other issues. Far too often people try to handle their own claims. Consult with an attorney in your area.

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2 lawyers agree

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