What happens if the insurance company leaves it up to you to report salvage title? ?

Question

I had a small dent on my vehicle through an accident by another person. The insurance carrier declared it as a total. I dont want to report it as salvage because its in good condition. They haven't reported it as salvage, but are giving me this option. They said they only reported the accident but not the total loss. I don't want to. But according to DMV i could face a penalty if it dont. What shall I do?

Answer 1

In texas if you retain the salvage on your vehicle you HAVE to convert the title if the damages were 100% or more of the value of the vehicle.

You can keep the title but your ins company will  send a letter to the dmv.  It may take them a little while to catch up with you but eventually they will.

The rules changed recently but I'm pretty sure this is how it works

Answer 2

In California, if you report it as salvage, you are entitled to the remainder of the registration fees you didn't use up. But, then you have to turn in your plates and pink and then you have to take the vehicle to have the brakes and lights inspected at a licenced shop..and then DMV usually requires a verification of the vin number..which is another $50(?)..then they will issue new plates and a pink that is marked "Salvage". I've seen many really nice cars with salvage titles on them and it really doesn't make sense. As long as the insurance  didn't report it, I wouldn't say anything. I would suggest you buy liability only insurance from another company for a while..(how old is the car?)..then fix the dent and go back for full coverage with them. A trend I have seen with certain insurance salesmen who are only interested in getting big comissions is that they will issue a full coverage policy without even looking at the car..then, if there's an accident, they get in your face for not telling them that the car was a prior wreck or total..and then they get away with paying you little or nothing after you having spent all that money. People I have helped in that situation have been sucessful when they push back just as hard..h**l, it's all negotiable, isn't it?  P.S...the report to DMV concerning the wreck is just that..only a report..it is not something that is looked upon with the anticipation that a salvage report will follow.