Legal Question in Insurance Law in Texas

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.


Asked on 1/12/01, 11:07 am

1 Answer from Attorneys

Charles Aspinwall Charles S. Aspinwall, J.D., LLC

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.

Read more
Answered on 1/29/01, 9:48 am


Related Questions & Answers

More Insurance Law questions and answers in Texas