You have the right to retain ownership of the vehicle, but the amount of the settlement may be reduced by the salvage value.
The insurance company will sell it to the highest bidder, who will either dismantle it for parts or re-sell it after repairing it.
Sometimes. If you fell the ACV offered by the insurance company is too low, then you are obligated to prove this either through documented receipts of vehicle enhancement or written statements by qualified experts to determine the proper value.
The insurance company will assign an appraiser to inspect the vehicle to determine its condition prior to the accident, or in some instances allow the repairer to make the determination. They may use a car evaluation service or the newspaper to determine the value independently.
The value of the vehicle – the sum of the cost of repairs plus the value of the vehicle in damaged condition (salvage value) – is greater than the actual cash value (ACV) of the vehicle prior to the accident.
Subrogation is the process by which your insurance company pays for the repairs to your vehicle, and is obligated to collect from another insurer or party. Your collision coverage will require you to pay your deductible, which may be refunded once the other party pays.
Yes. It is unacceptable for a shop to charge for parts no actually installed on the vehicle. The final repair order must be corrected to detail all of the parts actually used and labor operations actually performed.
Generally not. Estimates are prepared using information supplied by independent repair information companies. They are not intended to be an exact representation of the time necessary to complete repairs, only the average and suggested cost to perform those repairs.
The dictionary defines an estimate as “a rough or approximate calculation only.” The insurance company may provide an estimate; however, it is up to the repair facility to discuss the repairs and provide the estimate to the owner for approval and authorization. Often it is initially impossible to estimate collision damage without dismantling the vehicle.
Only if you want to discuss the repairs with more than one shop. If you have selected a shop, have your insurance company deal directly with them, with notice to you.