Dominik

I totalled my car friday, and it's policy that I'm not allowed to keep the car. Is there anyway for me to be able to persuade my insurance company while settling to let me keep the car?
Will persistance pay off in this case?
I was not at fault 100%. I just put my claim through today I have a couple days to figure something out....

imported_Team Rukus

check pm

imported_quinnc

what kind of car?
how was it written off? (stolen or accident)
where is the car now? (home, body shop or wreckers)

need more info if you want an answer

The Prophet

i think you have the option to buy back your car for a certain price.... because they are paying you out for the car, its their car, so you would have to buy back the car.

but i dont know if you can do that with all insurance companies.....

Dominik

The car is a 1997 Acura 1.6EL.
The car was in heavy front end collision, not my fault.
The car is currently sitting at MC Towing in mississauga, tomorrow it will be pulled from there and moved to Impact Auto.
Thanks,
-Dom


Thanks Jay!

imported_quinnc

#1 if you have not settled DO NOT RELEASE the car and let them take it to impact if it goes you have no bargaining advantage as long as the insurance is paying storage the ball is in your court if it goes to impact you will never see it again unless you want to pay full salvage price on it

Dominik

Anything else I can do?
Maybe if I say I'll take care of the storage fees it will give them more incentive to let me take the car?

imported_quinnc

you can try but don't release the car to them until you have a final signed agreement, expect 10-20% less from them if they let you keep it.

Dominik

Honestly, 10-20% less is nothing.
The car has 10G's in mods easy. The motor, suspension, interior, system, all that. Atleast 10g's worth.
All I want is alittle money well..fair amount of cash and to keep my car.

imported_quinnc

talk to the insurance see if they will let you remove the modified parts as long as you replace them stock parts it should not be a problem. tell them if they won't let you take them you want replacement value on the mods hopefully you have receipts for it all

Dominik

Just dawned to me...I have a rental car out...I can see the cost of the rental affecting this settlement or the deal....

imported_quinnc

what insurance company is it

Dominik

Economical Insurance Mutual Company, my broker is Unison Insurance and Financial Services inc.

imported_quinnc

economical will try very hard not to let you have the car back has something to do with fraud problem they had my friend used to work in claims for them. You should still be able to get your parts or compensation for them just don't let your car leave until you work it out, if you want go to the bodyshop pay the bill and have it towed home keep your receipt and when you have a settlement worked out they can come pick up your car and pay you back. don't let it go to impact!

Dominik

Do you mind disclosing your friends name?... I can try to pull a fast one and tell them I knew someone who used to work for them and the reason they wont let me keep is because they think fraudulent activity could be happening...

marker

Receipts or not, the insurance company is under no obligation to pay replacement value or even current value on any mods unless those mods were previously disclosed to the insurance company. Of course the insurance rate would have been increased because of the added value of those mods.

This guy choose to either not inform his insurance company of the mods beforehand, and perhaps even hid the fact that the car was heavily modded. The only payment he is due is the wholesale value of the car in an unmodded state.

He might want to read his insurance contract very carefully. It's completely up t o the insurance company how they decide to pay him out, and if he unduely hinders them in closing the file, they can simply close the file and walk away, leaving him the car but giving him nothing else at all.

imported_quinnc

They can not just close the file if you only take wholesale value for your car thats your problem you get what it will cost you to replace the car insurance companies always lowball the first offer they give you it's up to you to negotiate will them. You may remove non-stock parts as long as you replace them with originals.

marker

Look again in your policy. The rental is good only until you settle the claim, then it must go back.

Also, regardless of whether you have the claim settled or not, there is a fixed $ limit on how much they will pay for the rental, usually around $800 or so. Once that limit is reached, they can refuse further coverage for that rental at their absolute discretion.

If it appears that you are stalling settlement with unreasonable demands, they will exericise either time or $ limit on that rental quick enough.

marker

Read the fine print on your policy. Also, read the terms of the standard Ontario Automobile Polocy as enacted by Ontario legislation.

You can negotiate with your insurance company, but there is nothing in the law requiring them to negotiate back. They do so as a customer relations exercise when they want to retain you as a satisfied customer, nothing more.

imported_quinnc

I deal with them everyday for the last 7 years they always will negotiate especially if they are paying storage for your car to sit at a towing compound or body shop ( the old shop i worked for charged $100 per day ) as storage rates are not regulated. I had one guy who would not settle it cost them almost 2 months storage. You have the right to be treated fairly by your company or you should find another.