Will Insurance Write Off My Car?

1. 

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   If you have physical damage coverage on your insurance policy and the car is damaged in an accident, the company might declare the car a “total loss.”  When the company does that they will offer to pay you the market value of the car minus the deductible.  This is an offer which you can refuse and accept a lesser amount for repairs.  If you are able to repair the car and continue the car in service that is an option you can take.  You should be given a choice.

   Answered on March 26, 2014

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2. 

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   Mark Bartlett CLCS

   Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers

   I am not sure what you mean by write off your car. However if your vehicle is totaled and your insurance provider offers you a settlement you can take the money in exchange for the vehicle. Or you can buy the vehicle back and make the repairs yourself. Your vehicle going forward will be registered with the DMV as a salvage title vehicle.

   Answered on March 30, 2014

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