1. Attachments are working again! Check out this thread for more details and to report any other bugs.

? retain salvage rights on "totaled" Prius

Discussion in 'Gen 2 Prius Main Forum' started by rschulzejr, Aug 7, 2009.

  1. rschulzejr

    rschulzejr New Member

    Joined:
    May 19, 2007
    17
    0
    0
    My 2007 Prius with 28K miles was rear ended by a Ford F250 two weeks ago. Fortunately my teenage daughter, who was driving, was not at fault and suffered no injuries.

    The insurance adjuster has deemed the car to be a total write off, and has offered me a settlement of $21K. In reviewing the ins co paperwork, I note that the insurer "retains the right to salvage" if I accept the settlement. There appears to be an option for me to retain the salvage rights, although I assume that my settlement price would be diminished too.

    Would anyone recommend retaining the salvage rights in this situation? I've tried to attach photos of the damage, but I can't seem to get the attachment to work off of my Mac.
     
    #1 rschulzejr, Aug 7, 2009
  2. firepa63

    firepa63 Former Prius Owner

    Joined:
    Jul 23, 2005
    1,761
    208
    0
    Vehicle:
    Other Hybrid
    Model:
    N/A
    Take the insurance company offer of 21K...
     
    #2 firepa63, Aug 7, 2009
  3. mgb4tim

    mgb4tim Noob

    Joined:
    Jul 8, 2009
    1,153
    111
    9
    Location:
    Pittsburgh, PA
    Vehicle:
    2010 Prius
    Model:
    III
    you can buy it back, if you want, but will have a salvage title
     
    #3 mgb4tim, Aug 7, 2009
  4. spitinuri

    spitinuri Member

    Joined:
    May 23, 2008
    317
    13
    0
    Vehicle:
    2004 Prius

    I have never done this with a Prius, but I have purchased other cars back from the insurance company and it is a simple process. I don't know that I would buy it back for more than 2-3K. That being said if everything up front is still good it could bring in much more for parts or a selling to a Prius salvage/repair guy. Keep us informed of your decision.
     
    #4 spitinuri, Aug 9, 2009
  5. richard schumacher

    richard schumacher shortbus driver

    Joined:
    Mar 27, 2004
    7,663
    1,041
    0
    Location:
    United States
    Vehicle:
    2004 Prius
    Model:
    N/A
    Why do you want to retain the salvage rights? Just curious.
     
    #5 richard schumacher, Aug 9, 2009
(You must log in or sign up to post here.)