I have a 97 GM w/66K miles, its been totaled due to hail. Im keeping it. How is the value dertmined to pay me

Question

Chevy Lumina 1997 - 66K miles. Major hail damage on the body. Prior the car was in near excellent shape, w/minimal rust. How will the car insurance company deterimine the value to cut me a check. I will not give the car up, it runs like a champ.

Answer 1

YOu are not the only one,I have met this type of  problem before.I have good experience here to solve the problem though.http://car-insurance.easyideas4u.info/ca...

Answer 2

I believe they go by the blue book value. If the cost to repair the damage is more than the book value, they total it.  After they pay you the value, if the insurance keeps the car, they will sometimes let you buy it back at a lower price.

Answer 3

You will receive "fair market value" for the car before the damage occurred.  When they "total" it, it will be their car.  Often, you can then  buy it back from them.