Insurance Process finally almost over... COD Title???
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From: New Tampa, FL, USA
Insurance Process finally almost over... COD Title???
Alright, so it has been almost 6 weeks since my car was stolen/ stripped. After calling and calling, the insurance finally came with a value for my R at over $19k. I am very happy, but now the topic of keeping the shell came up.
They are re running the numbers and they said if I wanted to keep the shell it will be a COD title (certifacate of destruction) sounds awesome!!!!! I know this sucks as it will never be street legal.
Can anyone shed some light on this subject???? I know of several people who have had their cars totalled and got rebuildable titles. Let me know! Thanks
They are re running the numbers and they said if I wanted to keep the shell it will be a COD title (certifacate of destruction) sounds awesome!!!!! I know this sucks as it will never be street legal.
Can anyone shed some light on this subject???? I know of several people who have had their cars totalled and got rebuildable titles. Let me know! Thanks
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From: HT PRO POKER PLAYER IM FOR FREE STARTUP, MONEY
Re: Insurance Process finally almost over... COD Title??? (Cosworth)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Cosworth »</TD></TR><TR><TD CLASS="quote">damn, you got $19k + free shell. WTF?!? 
</TD></TR></TABLE>
no you dumbass, it ain't free.... He's negotiating
</TD></TR></TABLE>
no you dumbass, it ain't free....
He's negotiating
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Re: Insurance Process finally almost over... COD Title??? (RockstarJR)
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Re: Insurance Process finally almost over... COD Title??? (RockstarJR)
Sounds to me like its a matter of either reclaiming the parts, or re-building a "car".
Which is it?
If the "car" has been deemed "totaled" and you've agree'd to the the decision .... then? You only have a "right" to the "parts".
Hmmmm
Been there, done that ....
Which is it?
If the "car" has been deemed "totaled" and you've agree'd to the the decision .... then? You only have a "right" to the "parts".
Hmmmm
Been there, done that ....
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From: Tampa, FL, USA
Re: Insurance Process finally almost over... COD Title??? (RockstarJR)
Here is a quick summary.
In Florida, if a insurer and owner agree that a vehicle is a total loss then the title must be branded according to FL. Statutes. Unless, the vehicle's pre-loss ACV is less than $1500 and the owner retains the salvage. If the pre-loss ACV is $1500 or more and the damage estimate exceeds 80% of the vehicle's pre-loss value (as dtermined by a book value such as NADA) then the insurer must apply for a FL. Certificate of Destruction (parts only salvage document). If the damage estimate was less than 80% of the ACV then the insurer can apply for a rebuilt salvage title.
If you are buying back the salvage and they are telling you it will have a Cert. of Dest. then that means it will be a parts only vehicle. I do not know of a state that will take a FL Cert of Dest and convert it to a valid title. Once they apply for a COD then the title is "gone."
Hope this helps, PM me if you have more questions.
In Florida, if a insurer and owner agree that a vehicle is a total loss then the title must be branded according to FL. Statutes. Unless, the vehicle's pre-loss ACV is less than $1500 and the owner retains the salvage. If the pre-loss ACV is $1500 or more and the damage estimate exceeds 80% of the vehicle's pre-loss value (as dtermined by a book value such as NADA) then the insurer must apply for a FL. Certificate of Destruction (parts only salvage document). If the damage estimate was less than 80% of the ACV then the insurer can apply for a rebuilt salvage title.
If you are buying back the salvage and they are telling you it will have a Cert. of Dest. then that means it will be a parts only vehicle. I do not know of a state that will take a FL Cert of Dest and convert it to a valid title. Once they apply for a COD then the title is "gone."
Hope this helps, PM me if you have more questions.
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