insurance claim
if vehicle is considered total loss can insurance automatically take over ownership of that vehicle when original owner is trying to buy back.
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Read More Answered By: Charles Aspinwall |
Re: insurance claim In the event of a total loss, when the insurance company pays the owner the full Actual Cash Value for the vehicle, it then belongs to the insco.
Whether or not the original owner can negotiate a buy-back from the insco of the salvage depends upon what the insco is willing to sell it for and what the buyer is willing to pay.
There is no legal obligation on the part of the insco to sell the salvage, or to sell it to a particular bidder other than the high bidder. |
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