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Thread: Insurance Qs

  1. #1
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    Default Insurance Qs

    So my car is quoted for 16K$ in hail damage. Just wondering, If I were to claim it, they would most likely write it off and write me a cheque for ~5K right?

    If they are to do that, I was told that I could buy back the car for a percentage (~30%) of what I got for it. Which would also allow me to gain... say 2000$.

    Then I was told by another friend that if it were to be written off, it will not be street legal and there would be no point in buying back the car.

    Which is true and does it just depend on every case?
    I want to keep the car regardless of hail or not, and if I were to get that extra cash, I would try and use it towards repairing.

    I have a bunch of parts being shipped in and I don't want to have it appraised and lose the car and have wasted all my money on the parts that I just bought.

    Thanks!

  2. #2
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    it depends on if it can be rebuilt. for hail damage you could probably put it back on the road.

  3. #3
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    If they write it off, and you buy it back, you will be forced to reconcile with all of the repairs the car may have needed prior to the incident.

    The salvage inspection is less forgiving than an RIV inspection, which is extremely thorough. Take as much money as you can from it, and run like hell.
    Originally posted by teamPRO


    howbout suck my black kettle...

  4. #4
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    Originally posted by CUG
    If they write it off, and you buy it back, you will be forced to reconcile with all of the repairs the car may have needed prior to the incident.

    The salvage inspection is less forgiving than an RIV inspection, which is extremely thorough. Take as much money as you can from it, and run like hell.
    Take the money from the insurance cheque?

    Sighs, it's just that the engine only has like 110K on it and I have so many expensive parts coming. @$^&@[email protected]^, the RIV inspection, is full body and mechanical inspection?

  5. #5
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    They rarely brand cars salvage for hail damage. Most likely it will stay active

  6. #6
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    Typcially Insurance companies DO NOT flag vehicles for hail damage.
    Its not only about money. Its about freedom, friends and family too.

  7. #7
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    As the others have said, just take the insurance money.

    If the damage is less than the value of the vehicle, they will usually give you the value of the damages minus a certain %. So you get maybe 80-90%.

    If the damage if more than the value of the vehicle, they will pay you the value of the vehicle minus a certain % (since you want to keep the vehicle.)

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