Can I Keep My Car if the Insurance Company Declares it a Total Loss?

Yes you may but your vehicle will have a salvage title. In Florida, once an insurance company determines that your car is a total loss, you have the option to either transfer title of the vehicle to the auto insurance company or have repairs performed to the vehicle and obtain a salvage title from the Florida Department of Highway Safety and Motor Vehicles (DHSMV). Alternatively, a certificate of destruction can be obtained if you plan on selling the car for parts. Once a salvage title is issued, the owner will receive the actual cash value of the car minus the salvage value for the vehicle from the insurance company.

If you’ve been injured in an accident, contact an experienced personal injury lawyer immediately. For a free case evaluation, call the Miami Legal Firm at 305-265-2265

Leave a Reply

Your email address will not be published. Required fields are marked *