What do You expect in case of loss?
Posted by JERRY on May 10, 2002 at 14:17:55:
IN CALIFORNIA I HAVE A 1995 MUSTANG , INSURED BY FARMERS , THAT KELLY
BLUE BOOK LISTS AT ABOUT $7K TO $8K. RETAIL. MY GIRLFRIEND RAN INTO ANOTHER
VEHICLE AND DID ABOUT $2500 DAMAGE, THEN AFTER PARKING THE VEHICLE AT MY SHOP
ON THE FOLLOWING WEEKEND VANDALS DID ABOUT $4000. ,IN THEFT AND ADDITIONAL
DAMAGE. THE BODY SHOP TOLD ME THAT THE VEHICLE SHOULD PROBABLY BE TOTALLED
SINCE THE LOSS PLUS SALVAGE VALUE EXEEDED THE VALUE OF THE VEHICLE BUT THE
TWO CLAIMS ARE BEING HANDLED BY TWO SEPERATE ADJUSTERS. I WOULD PREFER TO
PULL THE SETTLEMENT CASH AND JUST PURCHASE ANOTHER NEW VEHICLE RATHER THAN
HAVE THE INSURANCE CO. INVEST THIS AMOUNT IN REPAIRS AND MAYBE STILL HAVE
ONGOING OR ADDL PROBLEMS IN THE FUTURE WITH A REPAIRED VEHICLE.
WHAT IS THE BEST APPROACH FOR DEALING WITH THE INSURANCE CO. TO CASH OUT
RATHER THAN REPAIR DAMAGES ? DO THEY NEED MY APPROVAL TO HANDLE BOTH CLAIMS
AS ONE CLAIM?
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