Offer from insurance for total loss

They totaled my sequoia and then I had to buy it back at salvage cost. Did a reconstructed title but I fixed it for the payoff amount.
 
Thanks for all the replies.

First off, so sorry for the “V6”, don’t know how I could have made such a basic error.

Second, I think we are on the same page.

- offer seems fair

- try to buy back the salvaged truck if the price is right

- ask if I can take parts I added: full doors, rack, Tuffy interior parts

-ask them to add the sales tax I will need to spend replacing the Jeep

anything else?
 
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billiebob said:
This is why I don't carry collision. Not sure if yours is drivable but I save $600 a year without collision. I'd sooner just fix it myself but $8200 sounds fair.
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Jesus, I pay just over $400 a year for full coverage! I knew there were rate differances between the east and west coast, but I would never of thought that much!
 
derekmac said:
Jesus, I pay just over $400 a year for full coverage! I knew there were rate differances between the east and west coast, but I would never of thought that much!
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Me either! I just paid a little over $300 for full coverage as a pleasure vehicle.
 
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Caution if you retain the salvage, also retain the title! Do NOT turn it over to them or you'll possibly have a really hard time plating it, depending on what state your in, plus it drops the resale value.
 
I don't run collision either. The expected value doesn't add up. The only use of insurance is to reduce variance, but it is negative expected value. But obviously the variance reduction is useful on something like a $500,000 house. On a $5000 Jeep, it isn't worth the $x a month to me. I've definitely saved more than the Jeep is worth over the past years by not running collision (as would be expected probability wise).

In terms of the offer, I think that is fair. I would probably take the money, try to pitch in an extra grand or two, and buy a very nice sport or fairly nice Sahara. Would be an upgrade I think. Shouldn't be hard to find a rust free Jeep in LA either so you could hop into something fairly quickly.
 
derekmac said:
Jesus, I pay just over $400 a year for full coverage! I knew there were rate differances between the east and west coast, but I would never of thought that much!
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You should see CO rates:confused: I would gladly pay $400 a year for full coverage
 
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Neil Sears said:
Update.

I’m keeping the Jeep and the settlement offer remains the same 👍🏻

thanks everyone for the input.
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Can you show us the damage?

Just please be aware when another vehicle smashes into your Jeep it can bend the axle housings or the frame fairly easy. An axle housing can bend and not really show up in an alignment all that much. Then several thousand miles later when your bearings wipe out in that axle you will learn it is bent.

Just be vigilant in getting the frame checked and the axles for damage.

I have learned these things the hard way when somebody hit 2 of my vehicles over the years. The body shop will say "yeah yeah yeah, we checked all that". When they did not. They made sure the paint was pretty enough and you have hidden damage.

You probably know all that, just throwing it out there.
 
Jesus, I pay just over $400 a year for full coverage! I knew there were rate differances between the east and west coast, but I would never of thought that much!
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Sometimes it also depends on a specific insurance agency...
 
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