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If insurance declares a car totaled can you cancel the claim and keep the car?
You can accept the claim and then buy back the car. This way you get money for the claim and you get to keep your car. The price for the car will be way lower at the totaled price than what you will receive in the claim.
What law give the insurance company ownership of a totaled car?
It's not a "Law", it's an agreement between you and your insurer. If your car is totaled, and your insurer pays you or the leinholder a claim, the car is then property of the insurer to regain any money the can from the claim. It should be explained in the many lines of text in your policy.
What happens if car is totaled in chapter 13 but no claim was filed for the car?
A car is not totaled in a chapter 13. A car may be totaled while the owner is in a chapter 13. If the car was fully exempted, nothing happens. If you need to buy a new car, you will have to get permission from the bankruptcy court after you file a specific purchase agreement (car loan) which should not seriously affect your plan payments. Why are you not asking your lawyer?
Can a claim be denied if you drop a totaled car to add new car before the claim is settled?
Check your policy. I'd expect that as long as the totaled car was covered on the date of the crash that totaled it, you'd be covered - after all, if you weren't going to replace the car, would they expect you to keep paying at all? BUT, that all said, it's really your policy that will tell you the answer. Any insurance policy is a contract between you and your insurance company, and anything they say in the contract - that's the way it is.
If you totaled a car and repaired it without getting a salvage title had full covereage and totaled it again a few weeks later what should the difference between the values in the two claims be?
You must provide that salvage title in order to claim for the collision aspect of this current claim.
Your car is totaled and getting more from the insuyrance co?
Is it possible negotiate with the insurance company over what your totaled car is worth? Sure, but you'll need to get comparables from the internet and the classifieds. if there is a big difference, you may want to consider getting an attorney to help. Hope that helps! http://www.boomer-survival-guide.com
Will you owe taxes on a totaled car?
Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.
How is a cash value determined for a car if its totaled?
Bluebook value plus assecories added within a year of the claim with receipt proof minus lean on vehicle. Also how frequent you claim is weighed in
Can a lienholder put a repo on your credit if the car has been totaled and instead of filing a claim you wish to keep the car and keep paying on it?
YES, IF you were in default and they repoed it. NO ins. coverage IS default. Do you HAVE the car NOW?
Car is totaled but still owe?
If you've got full coverage insurance, make a claim. They should take over payments. You'll be car-less, but won't owe anymore.
How do you finance buying back a totaled car?
Home equity loan perhaps. No bank is going to finance a totaled car.
What if your car is totaled?
Get a new car. == If someone hit your car you will be paid the actual cash value of the car. If you totaled the car and had collision coverage you will be paid actual cash value, too.
