Someone crashed into my car and it took several months for their insurance to pay me out. I paid for the $10,000 in repairs out of pocket for a car that was worth $13,000. Farmers just wired me $10,000 yesterday, but they they said because 10,000 is higher than "the undamaged car value minus the salvage value," they are going to report my car to the DMV as a salvaged vehicle. Am I required to change my registration with the DMV now? It seems odd that Farmers can change my car registration even though I didn't sign anything, accept any terms, or agree to any sort of change in title. This makes it more difficult to insure my car and more difficult to sell it eventually, so I am wondering if I have any options at all here.
Am I required to register my car as a salvaged if the insurance company treats my damage as such?
- Thread starter powaya
- Start date
-
- Tags
- salvaged title
- 2,623
It isn't Farmers that is changing your car registration. It's your state legislators that have mandated the reporting of damaged vehicles to the DMV where the branding will take place.
One option is to keep your car for as many years as it takes to be worth very little money then sell it as a beater to somebody who can't afford a better car.
Similar threads
