Member, Sport: On DSC: On (>100 posts)
Join Date: Jul 2016
Location: Goldsboro, NC
Thanked 1 Time in 1 Post
Insurance deeming total loss, now what?
I was run off the road several months back and ended up off in the grass in a fairly flat area, but still never good.
Driver drove off and I obviously wasn't able to track him or her down. Not the point of this post anyway.
So this has been death by 1,000 cuts during this whole process. Initially it was just some body work, but expensive stuff that added up quick like bumpers, pork chops, etc. Once the body shop got down below those panels, they uncovered more things that were cracked/broken like the vacuum pump bracket and evap canister. Those additional things drove the damage number even higher, but not quite to the 75% threshold.
Once I got the car back, I could tell it was driving differently than before. I took it to an indy shop and they found some torn bushings that had been replaced in the past couple years so well within their service life and those were also attributed to the accident. Once insurance got that information, the damage number was driven above the 75% limit and they are declaring it a total loss.
So naturally they have given me 2 options. Either let them take the car and they pay out the full amount (it is an agreed value policy, so it is the full value of the car), or they let me keep it and give me the payout minus the salvage value of a few thousand $$. The difficult part now is that this car is mostly fixed minus a couple diff bushings and FCABs.
I'm approaching a PCS (move do a different location, possibly overseas) in the next year or so and really don't want to deal with the logistical problem of moving 4 vehicles. It seems the obvious choice is to let the insurance company take the car and I walk with the money. My hang up is one less beast on the road that is in pretty good condition and well optioned/cared for, plus a great maintenance history.
Keeping the car would involve me either just cleaning it up and selling as-is with the PPI that was done by the indy shop here to fully disclose the remaining work required, or having the work done, driving it for a bit, and then selling it later on.
I'd really appreciate everyone's thoughts on this. Thanks!