Life Is anyone on CP in the automotive insurance industry?

El Jefe · 07-12-2012, 07:14 AM

Sorry to make this thread, but I knew if I posted this in my cutlass thread not everyone would see it. Anyways, if you are in the insurance (automotive specifically) side of business, I would like to ask you a question.

My car got keyed. The body shop came back with an estimate and told me they will most likely salvage the car out. I can either take the money and let it be salvaged (Will not happen) or I can take their money, buy the car back with a salvage title and then pay the difference for it to be painted.

My question is; would I be able to accept under what they offer, then not get the salvage title and pay the extra to get it painted?

I am not willing to part with the car, and this place that estimated it does immaculate body and paint work, and they are cutting me a heck of a deal do to our business relationship, and they are just trying to help me out a little bit. So if I take it from them, I will never get a paint job of that quality for that price, so I don't want to do that. I would love not to have to get a salvage title and deal with that mess.

**HayWire** · 07-12-2012, 07:46 AM

Not with the estimate you gave them, if you get a cheaper estimate that will not total the car they can pay that ammount and you can cover the rest. They can't just give you a lesser ammount and not salvage the vehicle because of paperwork/legal issues.

El Jefe · 07-12-2012, 08:07 AM

Quote:

Originally Posted by DJKid

Not with the estimate you gave them, if you get a cheaper estimate that will not total the car they can pay that ammount and you can cover the rest. They can't just give you a lesser ammount and not salvage the vehicle because of paperwork/legal issues.

I was afraid of that. I think I will have to go the salvage route. I know that I cannot get as good of a paint job as I will get with this company for the price they are giving me.

Thanks for the post and info my man

Brock · 07-12-2012, 08:18 AM

How much money are they offering you? How much is the body shop charging you?

**HayWire** · 07-12-2012, 08:28 AM

Quote:

Originally Posted by El Jefe

I was afraid of that. I think I will have to go the salvage route. I know that I cannot get as good of a paint job as I will get with this company for the price they are giving me.

Thanks for the post and info my man

You can still get the good paint job and keep the car from being salvaged if the insurance company pays the money directly to you.

Just making up numbers,if the cars value is 5000 and original estimate is 6000, car is "salvaged". If you get an estimate from low end body shop that is 4000 they will pay that ammount and car is not salvaged. If they pay money directly to you and not body shop you can cover the 2000 difference and still have a "clean" title. It will cost you more but the cars value will be more. Hope that helps.

**alnorth** · 07-12-2012, 08:29 AM

Quote:

Originally Posted by DJKid

Not with the estimate you gave them, if you get a cheaper estimate that will not total the car they can pay that ammount and you can cover the rest. They can't just give you a lesser ammount and not salvage the vehicle because of paperwork/legal issues.

This post is pretty much correct. If the car is totaled, the decision to salvage belongs to the insurance company. The only way to avoid salvage is for the estimate to be low enough so that they don't total the car.

cookster50 · 07-12-2012, 09:45 AM

Sounds like you need to have your paint company give you a lower estimate that you can submit to insurance, but yet still charge you the original estimate when you get the repair done.

El Jefe · 07-12-2012, 10:52 AM

Quote:

Originally Posted by cookster50

Sounds like you need to have your paint company give you a lower estimate that you can submit to insurance, but yet still charge you the original estimate when you get the repair done.

That would be nice, but no way they will do that.

El Jefe · 07-12-2012, 10:53 AM

Quote:

Originally Posted by DJKid

You can still get the good paint job and keep the car from being salvaged if the insurance company pays the money directly to you.

Just making up numbers,if the cars value is 5000 and original estimate is 6000, car is "salvaged". If you get an estimate from low end body shop that is 4000 they will pay that ammount and car is not salvaged. If they pay money directly to you and not body shop you can cover the 2000 difference and still have a "clean" title. It will cost you more but the cars value will be more. Hope that helps.

Intriguing, thanks man!

**HayWire** · 07-12-2012, 10:57 AM

Quote:

Originally Posted by El Jefe

Intriguing, thanks man!

You're welcome, but keep in mind that if you never plan on getting rid of the car the "salvaged" title has no bearing on you but if you end up going with the salvaged title the cars value is diminished a shit ton. A minor fender bender on a car with a salvaged title will total it immediately since it has little value anymore.

**Bugeater** · 07-12-2012, 10:59 AM

If you plan on keeping this car forever, what difference does it make if it has a salvage title?

**HayWire** · 07-12-2012, 11:03 AM

Quote:

Originally Posted by Bugeater

If you plan on keeping this car forever, what difference does it make if it has a salvage title?

It won't make a difference unless there in another claim. Once the title is salvaged its for the most part uninsurable. If it was worth $5,000 before then it's worth next to nothing with a salvaged title, all repairs would have to be made out of pocket instead of threw insurance.

GoHuge · 07-12-2012, 11:04 AM

If your car being keyed totals it you might want to just get a newer nicer car. If it is of such low value ($$ wise) that thing is going to cost you some serious cash for some type of catastrophic failure at some point.

I guess I could be off base with my statement without knowing the year, make, model, and mileage. Care to share that? I would just hate to see someone spend a bunch of money to paint a car that is a ticking time bomb for your wallet.

**Bugeater** · 07-12-2012, 11:08 AM

Quote:

Originally Posted by DJKid

It won't make a difference unless there in another claim. Once the title is salvaged its for the most part uninsurable. If it was worth $5,000 before then it's worth next to nothing with a salvaged title, all repairs would have to be made out of pocket instead of threw insurance.

Ah, I see. But from what it sounds it's basically not worth insuring even with a clean title.

**HayWire** · 07-12-2012, 11:13 AM

Quote:

Originally Posted by Bugeater

Ah, I see. But from what it sounds it's basically not worth insuring even with a clean title.

It was keyed pretty bad from the pics I saw in another thread, plus I believe he said they got some of the glass too. It wouldnt take long to run into a good chunk of change if you replace all the damaged parts and give it an A+ paint job. Plus with the way todays autos are made most mechanics are well schooled and educated which equals big bucks to work on any vehicle.

07-12-2012, 07:14 AM
El Jefe Don't tread on me. Join Date: Nov 2006 Location: Where the peaches grow Casino cash: $9030572	Is anyone on CP in the automotive insurance industry? Sorry to make this thread, but I knew if I posted this in my cutlass thread not everyone would see it. Anyways, if you are in the insurance (automotive specifically) side of business, I would like to ask you a question. My car got keyed. The body shop came back with an estimate and told me they will most likely salvage the car out. I can either take the money and let it be salvaged (Will not happen) or I can take their money, buy the car back with a salvage title and then pay the difference for it to be painted. My question is; would I be able to accept under what they offer, then not get the salvage title and pay the extra to get it painted? I am not willing to part with the car, and this place that estimated it does immaculate body and paint work, and they are cutting me a heck of a deal do to our business relationship, and they are just trying to help me out a little bit. So if I take it from them, I will never get a paint job of that quality for that price, so I don't want to do that. I would love not to have to get a salvage title and deal with that mess.
Posts: 8,540

07-12-2012, 07:46 AM	#2
HayWire Retired Bearcat Join Date: Dec 2011 Location: SWMO Casino cash: $4532400	Not with the estimate you gave them, if you get a cheaper estimate that will not total the car they can pay that ammount and you can cover the rest. They can't just give you a lesser ammount and not salvage the vehicle because of paperwork/legal issues.
Posts: 7,587

07-12-2012, 08:18 AM	#4
Brock Say hello to my little friend Join Date: Aug 2000 Location: Larryville Casino cash: $9598422	How much money are they offering you? How much is the body shop charging you?
Posts: 47,314

07-12-2012, 09:45 AM	#7
cookster50 Supreme Commander of My House Join Date: Apr 2004 Casino cash: $83622	Sounds like you need to have your paint company give you a lower estimate that you can submit to insurance, but yet still charge you the original estimate when you get the repair done.
Posts: 3,445

07-12-2012, 10:59 AM	#11
Bugeater The Maintenance Guy Join Date: Sep 2005 Location: Renovated Bugeater Estate Casino cash: $3992680	If you plan on keeping this car forever, what difference does it make if it has a salvage title?
Posts: 70,546

07-12-2012, 11:04 AM	#13
GoHuge The Truth Join Date: Dec 2005 Location: Overland Park Casino cash: $10006072	If your car being keyed totals it you might want to just get a newer nicer car. If it is of such low value ($$ wise) that thing is going to cost you some serious cash for some type of catastrophic failure at some point. I guess I could be off base with my statement without knowing the year, make, model, and mileage. Care to share that? I would just hate to see someone spend a bunch of money to paint a car that is a ticking time bomb for your wallet.
Posts: 3,991