QuestionI have recently had an at fault accident, the adjustor and the garage came to a similar ballpark figure which was just a little over what the adjuster had initially said it's cut-off point would be(based on him undervaluing the cash value of the vehicle, and overvaluing the scrap value) But he, the garage and the the adjustors supervisior give the repair the go-ahead.
My question is, as they have already said that they will fix the vehicle, if when stripped down more work is needed that they didnt see beforehand, can the adjustor change his mind and write-off the vehicle, or is he commited to his desision?? (i ask because he mentioned a few times about the possibility of extra work being found on it and was vague about any explanation)I am in CO.
I desperatly dont want the vehicle written off, and this uncertainty is making me ill - your help is much appreciated. Many thanks!!!
AnswerThe insurer has the obligation to either repair the vehicle or pay its actual cash value and retain the salvage, which ever is less. It states this in every insurance policy and it is that maximum payout of the actual cash value that your premiums are based on.
This can happen at just about any time during the repair process. We handle supplemental claims that end up totaling vehicles all the time.
People often get upset that an insurer will not pay out more than the policy covers to save a car. However I've never seen anyone offer to pay extra premium dollars.
If it ends up being a total loss, you will be paid the value of the vehicle. You should then be able to purchase a similar vehicle with that money. Hopefully there are not personal financial issues at hand but if so, that has nothing to do with your insurance company's obligation.
Good luck!
