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Totaled MGs

To: The MG List <>
Subject: Totaled MGs
From: "Brinkman, Gerardo V" <>
Date: Thu, 17 May 2001 08:07:09 -0400
Justin wrote:

>It looks like the damage estimate will come pretty
>close to totalling the vehicle.  It sounds like if it
>does get totalled, it may not be a total loss, because
>I can probably buy the car back from my ins. company
>at a cheap price.  Does anyone have experience with
>doing this?  what are the drawbacks to keeping the car
>with a salvage title.  Has anyone sold an MG or bought
>one with a salvage title?  Does it really hurt the
>value of the car?  I'm open to any and all opinions
>and recomendations.

I have just gone through this after my car was totaled in January.
Firstly be warned that the insurance company will try to stiff you
at every opportunity. After THEY have determined that you car is 
a total loss, they will determine the value of the salvage. In my
case it was 15% of the market value of the car. The way the market
value is determined is not clear and obviously the Ins. Co. will try
to low ball you.

As to the car being issued with a salvage title - who told you this ?
After my accident, I kept the totaled car and the title to the car. The
Ins. Co never asked for the title and it has not been altered to indicate
that the car was totaled. This is in NJ, so not too sure what happens in
your state.

BTW - my car was totaled in January of the year, I still have not received
1 penny from the Ins. Co. The irony is that the lady who caused the accident
and totaled her own car, had a brand new car sitting on her driveway 3 weeks
the accident


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