Insurance payout question

10-14-2009, 12:22 PM

My 1997 GMC Jimmy was in a collision (other driver 100% at fault) and his insurance co. (State Farm) appraiser has estimated the damage at $4750, and that the vehicle is worth $5100. They informed me that my Jimmy is a write-off. I told them not to write it off as the vehicle is in good driveable condition with no mechanical damage - this has been confirmed by a licensed mechanic.

The damage is front end bumper, grille, grille surround, one headlamp, a dented driver's side fender, and a scuffed hood spoiler. All these parts are bolt-on and I can handle the work myself.

Has anyone here dealt with State Farm? Do you know what happens next? This is a first time for me and any advice would be appreciated.

10-31-2009, 08:50 AM
Accept the total loss payout amount and inform the Adjuster that you want to buy vehicle back from State Farm. You should be able to have the price, which is about 10%, deducted from the insurance check.

bob collins
11-03-2009, 07:47 AM
get the highest / best price you can from the insurer. Research the value yourself prior to talking to them. Check dealer lots, classified ads for compairsons. Look at book values. Add in value of any improvement. Subtract for any prior damage. Some states have specific regulations on how values are determined. Once you have an agreement to its value, tell them you're keeping it. You do not have to "buy back" your property as you are not required to sell your property to the insurer. This is a 3 party "tort" calim.

Any salvage value should be determined by obtaining at least two quotes from licensed salvage yards. DO NOT let the inusrer assign a value to it. Check your state laws, or contact the state auto body association for direction to the laws and regulations. Communicate with insurer in writing / email is best. No talking on the phone.

02-06-2010, 10:57 AM
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Cristopher Millan
04-09-2010, 10:29 AM
Take a look at this (will help you, read it):


jhon herry
06-14-2010, 12:02 AM
If he was insured at the time, then his insurers are liable for the damage / claim. Dont worry about the time scale, as long as you have concrete proof the other party was to blame.

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