Auto Insurance Claims/REBUILD TITLE

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Expert: webfoot - 11/11/2006


Question
I have a 96 ford thunderbird w/127,000 miles the car is in excellent condition ,loaded to the max. my son was involved in an accident (not his vault) the insurance co. (usaa) said seeing as the damage amount was more than 100 % of the value of the car (damage amt 3700.00) the title had to classified as a rebuild and if i retained the car no insurance co. would insure the car!! it would have to be salvaged.  i live in the state of florida, is this true?

Answer
Unfortunately I cannot answer your question regarding the specific salvage laws in the state of Florida but can hopefully give you some insight on the situation.  

I understand how you must feel about the old T-Bird.  I have an old car myself and if something happens to it, will be facing the same dilemma.  But the truth is that there comes a certain point that it's just not worth trying to keep and repair something that has such a low cash value.  $3,700 is an awful lot of damage on a 10 year old domestic car and by considering a salvage title/rebuild etc. you're really just opening a can of worms.  
I believe that USAA may have been referring to full coverage when they stated that no one would insure the vehicle.  By law, I don't think that any company in any state can refuse to insure a vehicle for liability.

Do consider that even if you retain the salvage and have it repaired, the rebuilt salvage title will result in the vehicle value being about 1/2 of what it is right now.  You'll spend more than the vehicle is worth repairing it and will end up with something worth only 1/2 of what it's worth right now.  

Given that you live in FL, I know that it's not hard to find nice, low mileage vehicles and you may be much better off just taking the settlement money and getting something else.  Ford built quite a number of 96 T-Birds.

I hope that I've helped.

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webfoot

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Auto damage, liability, insurance fraud. I am a full time auto insurance adjuster with experience in collision, theft, liability and fraud investigation. I am also an ASE Master Auto Tech and I-Car Collision Platinum certified. My experience includes 15 years in the auto repair industry, a B.S. in Criminal Justice, Law enforcement and auto insurance. ****** NO "PRIVATE" QUESTIONS WILL BE ANSWERED. I HAVE FOUND THAT NEARLY ALL PRIVATE QUESTIONS COME FROM PEOPLE WHO ARE CONSIDERING OR ATTEMPTING TO COMMIT FELONY INSURANCE FRAUD AND I'M NOT HERE TO HELP YOU! ****** I AM HERE TO ANSWER AUTOMOTIVE REPAIR, CLAIMS PROCESS AND SOME SIMPLE LIABILITY QUESTIONS. I CANNOT ADDRESS COMPLEX LIABILITY SCENARIOS WITHOUT HAVING ALL OF THE INFO FROM BOTH SIDES IN FRONT OF ME. QUESTIONS ABOUT PREMIUMS OR HOW INSURANCE IS RATED SHOULD BE ADDRESSED TO YOUR PERSONAL INSURANCE AGENT WHO KNOWS A WHOLE LOT MORE ABOUT YOUR HISTORY THAN I DO. I'VE NEVER SOLD INSURANCE AND DO NOT KNOW IF YOUR INDIVIDUAL INSURANCE RATES WILL GO UP IF YOU MAKE A CLAIM. THOUGH I'VE HANDLED SOME VERY MINOR SOFT TISSUE INJURY SETTLEMENTS, I PREFER NOT TO ANSWER INJURY RELATED QUESTIONS. I'M NO INJURY EXPERT AND I'LL LIKELY SAY SOMETHING TO HURT SOMEONE'S FEELINGS AS I BELIEVE THAT MANY SOFT TISSUE PAIN AND SUFFERING CLAIMS ARE OVER DRAMATIZED. UNLIKE MANY OTHERS, I AM ON THIS FORUM AS A VOLUNTEER WITH NO PRODUCTS OR SERVICES TO SELL AND PROMISE AN UPFRONT ANSWER BASED ON MY EXPERIENCE IN BOTH SIDES OF THE INDUSTRY. IF YOU PROVIDE ME WITH A HONEST VERSION OF EVENTS, I PROMISE A CANDID AND HONEST ANSWER IN RETURN. I CANNOT ADDRESS ALL CLAIM SCENERIOS DUE TO DIFFERING STATE LAWS AND REGULATIONS, BUT WILL DO MY BEST. PLEASE REMEMBER THAT AN HONEST ANSWER MAY BE ONE THAT YOU DON'T LIKE SO IF THAT IS GOING TO BE A PROBLEM, PLEASE DON'T ASK THE QUESTION. LASTLY, I DO NOT ACCEPT RATINGS AS I DON'T DO THIS FOR RATINGS AND WISH TO SPEAK FREELY.

Experience

20 years in automotive industry, Currently in insurance claims, worked actively as technician and shop owner until about 10 years ago. Current ASE Master Auto Tech and I-Car Platinum Collision Certifications, B.S. Criminal Justice and 10 year auto insurance/extended warranty background

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