>Two wrecks in two cars in 6 monthsj
>Estimates for repairs exceed 70% vehicle's value
>Not "totalled", but total-loss based on repair cost vs value.
>Two 5-figure settlement checks
>Bought back both cars
>Both cars paid off in full - mandatory by insurance after total-loss
>Almost 20k in combined debt paid off overnight
>Repaired both cars myself for fraction of cost, P+P parts ftw
>Two "free" cars
>Still have almost 10k
I only worked the first three months of this year and have been unemployed ever since. However, I made over 30k in settlements over the last 6 months.
Pay your insurance /o/.
>>14138381
Isn't this fraud? If not, how do you do it?
I need to know.
>>14138394
Insurance companies hate this one weird trick.
>>14138381
Sounds like mendacity.
>>14138394
It's not fraud, the insurance companies are expecting repairs to be X and he's putting in the elbow grease himself to repair. His cars now have salvage titles on them, which he won't care about until he tries to sell them. And both wrecks had to be not his fault, otherwise his insurance would have been jacked way up or cancelled.
That being said, that isn't enough money to really do much with.
>>14138460
Can't you get the car inspected after you repair it and get a rebuilt title?
>>14138465
depends on the state, but either way the title isn't 'clean' anymore, which will make em harder to sell.
Then again if he doesn't care about selling them it wont matter
>>14138460
2 cars totaled in 6 mos. Yeah, his isnsurance rates are going up. They don't care if both weren't his fault. Insurance is a numbers game about risk.
>>14138394
In both cases, it took a chain of emails and a dozen phone calls over two weeks. Both times, I asked for a copy of the Valuation Report via email. The options and condition are always listed incorrectly and the comparison vehicles are always of lower value and higher mileage. This gave me negotiating room - I made them correct the valuation and use more comparable vehicles to estimate the value. In both cases I negotiated an additional 3k above the original settlement.
At this point, the new value given to the car may justify them repairing it - but they aren't going to risk putting it in the shop, discovering more costly damage, and further sinking money in to a lost cause.
The first car I was offered 8k, negotiated to 11k. Fixed it myself for about $300 after buying it back for $1300. After paying the 9k I owed on it, I still came out ahead $400. And debt free/free car.
The second car I was offered 16k, negotiated to 19k. I only owed 11k on it, and bought it back for $3400. Even after a $2000 deductible, I am coming out $2500 ahead. Repairs are in process, shouldn't exceed $500 because DIY and P+P.
>>14138460
>>14138473
The second wreck was my fault, no other party involved. Pic related.
My insurance went up $4 /month. My deductible is the max $2000 tho...
>>14138496
Treequinox type sitch
