Auto and Car Insurance

If an insurance company considers a vehicle totalled, can I still keep my vehicle?

I was in a accident today and if my car is considered total and the insurance company cuts me a check for what they think its worth, can I also keep my vehicle in addition to the insurance check. Does the insurance company take possesion of the vehicle if its totalled out. My car was still running after the accident but since the airbag deployed and there was some front end damage it may be totalled out. I am hoping I can have my car back even if they total it. Any ideas

Public Comments

1. When an insurance company total losses the vehicle - they buy it from you. Then they sell the vehicle for parts at a salvage auction to try and recover some of what they paid. If you want to keep the vehicle- the insurance company will subtract what they think they can get for the vehicle at auction. You get the car and the difference. You do not get full value and the car. Usually you get about 75% of the car's value and the car when your retain the salvage.
2. Some insurance companies will let you pay salvage value and keep your car if you want. Of course you will get less. You will also have a branded car, one with a salvage title. If you're thinking you can fix it and drive it, you will have a hard time finding an insurance company that will cover you, and you may have to have it inspected and be found road worthy to drive it. It's usually best to let the insurance take it away.
3. i agree with msad. if you want to keep the vehicle, you have to get a salvage title, subtract your deductible, and the value.in my opinion,save the headache and keep the check.
4. Depending on state laws( which you didn't tell) and insurance company (which you also didn't tell) you may be able to 'buy back' your car for a nominal sum- like $1.00. Offer to buy back car for basic low-buck scrap value if you take the check. since Insurance company is low-balling amount paid based on blue book value a lot of them will do it instead of hassling for increased payout. $1.00 purchase is known. remember that insurance company may be working with salvage yard and figure to get something back for running engine/transmission, bits and pieces- if nothing else the $200.00 a ton scrap price now being paid is a concern for reselling. state may say a 'total' has to be reinspected before re-registering. The 'Body shop specials' sold cheap are the ones with good engine and running gear but will need lot labor at $75.00/hour to fix. a home repair doesn't need to match paint to be drivable- pounded out fender that doesn't scrape tire and no dangling parts is good enough. lots of working beaters around Madison college campus from insurance pool.
5. Why would they let you keep the car and give you a check????????
6. No. The insurer is actually buying your vehicle from you. Yopu may be allowed to to 'retain' the salvage for a nominal fee depending upon how much the car is (was) worth.