Car insurance coverage after total loss + salvaged

Discussion in 'General Off-Topic Chat' started by DiscostewSM, Nov 24, 2012.

  1. DiscostewSM

    DiscostewSM GBAtemp Guru

    Feb 10, 2009
    United States
    Sacramento, California
    Last year, I had my car stolen and then recovered a week later, but not after being told by the inspector for my car insurance that it had become a total loss (because of how the thieves broke in and messed with it), but because it wasn't in such bad shape and still ran well, I insisted on salvaging it. Prior to this incident, it was paid through a car loan from my bank, and because it was a loan, my car insurance required that I meet certain requirements, such as 500 in both Comprehensive and Collision coverage.

    Now, after the incident, I was granted more money from insurance than what I had left on my car loan, so it was completely paid off, plus the extra money was used towards repairs. With this, my obligation for having 500 in Comprehensive/Collision coverage is finished, and I can lower it if I wanted to. However, I'm not really sure how low to put it because it is now a salvaged vehicle.

    If you are wondering of the make/model of the car, it is a 96 Honda Civic Ex Sedan 4 dr, and I purchased it used. I haven't really dealt with this sort of stuff, other than what was required of me at the time of signing, and that was many many years ago, so if more information is needed, I can try to supply it. I'm just not sure of what to look at in deciding.
  2. DinohScene

    DinohScene Feed Dino to the Sharks

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    Oct 11, 2011
    В небо
    Since it's a 16 year old car it's not worth much anymore.
    Unless it's a rare car but seeing that this just "another regular Honda" I severely doubt it ;p

    Anyway I don't know the US insurance system so the only thing I can say is that next collision/whatever happens to it might not be as lucky for you in terms of insurance.
  3. Javacat

    Javacat GBAtemp Fan

    Jul 27, 2007
    You should be able to find some sites that can give you a guestimate of the value which should be good enough for your insurance, I can't recommend any you can use as I use UK sites (parkers, which, etc). You could possibly try, but it will be lower than what it's actually worth. That should be ok for your insurance value but you will need to let the insurer know that the car was previously written off.