Need Some Advice

[tonylx87]

Hey fellas , as most of you now know , my car was stolen and recovered pretty stripped , but not enough for me to let the car just go.I do own the car and I would like to buy it back from the insurance company and use it for a project in my garage. The insurance company (geico ) is telling me I cant buy it back. If anyone has any experience with this situation or any tips , anything would be helpful at the moment for me to gain a bit more knowledge before i send in the paper work for my claim . Thanks again in advance

Tony

[cb7pr]

I believe they are lying to you. Ask them the policy that says you cant, because Ive had a number of different insurance companies, and Ive never have been denied the option of buying mine back.

That being said, ask them the difference between them taking the car, and how much will they compensate you for, AND how much do you get back total of you keep the car? It should only be a couple hundred dollars difference.

I say, if you want to keep it, you keep it. You pay insurance for a reason, they should pay you. Nuff said...

[mercyboy]

well from my dad experience he had cars both taken from Wreckage from total loss and stolen...This means they feel your car has been damaged so much that it would cost them more to have it repaired than what they consider the vehicle to be worth. In this case the car insurance company will pay you the determined cash value of the vehicle at the time of the accident...usually they don't check every detail due to lackness of knowledge or seen by appearance...by the picture of your strip cb7...I think Geico Had claimed it as a total loss since all parts are not all there usually they claimed it not able to restore..Head are missing, no front at all..It's worth to be used as parts or sold to a insurance salvage aution. But i think it's bullshiittt that there lying just to make you buy from government by buying a new car from the lot..it's there making way of making money and not spending on your nice vehicle ..What you can do is claim it from insurance and get a another cb7 but ask them were there going to auction or sell it at local junkyard and that's the time you can ask the junkyard or bidder to buy the body....My dad had permission to know where the relocation of the car by going and buying the frame there..but he couldn't buy it from the insurance company itself due government regulation... some places can let your claim adjuster know that you would like to keep the car. Your car insurance company will still have to pay you the actual cash value for your car minus the deductible you agreed to pay should you have to file a claim as well as the estimated amount the car insurance company would have gotten for the car had it been sold at an auction in a salvage yard. You will then be responsible for the repair of the car.

I mean it depends on different on U.S.A ,Canada....AND OTHER COUNTRIES

HOPE THIS HELPS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[tonylx87]

well from my dad experience he had cars both taken from Wreckage from total loss and stolen...This means they feel your car has been damaged so much that it would cost them more to have it repaired than what they consider the vehicle to be worth. In this case the car insurance company will pay you the determined cash value of the vehicle at the time of the accident...usually they don't check every detail due to lackness of knowledge or seen by appearance...by the picture of your strip cb7...I think Geico Had claimed it as a total loss since all parts are not all there usually they claimed it not able to restore..Head are missing, no front at all..It's worth to be used as parts or sold to a insurance salvage aution. But i think it's bullshiittt that there lying just to make you buy from government by buying a new car from the lot..it's there making way of making money and not spending on your nice vehicle ..What you can do is claim it from insurance and get a another cb7 but ask them were there going to auction or sell it at local junkyard and that's the time you can ask the junkyard or bidder to buy the body....My dad had permission to know where the relocation of the car by going and buying the frame there..but he couldn't buy it from the insurance company itself due government regulation... some places can let your claim adjuster know that you would like to keep the car. Your car insurance company will still have to pay you the actual cash value for your car minus the deductible you agreed to pay should you have to file a claim as well as the estimated amount the car insurance company would have gotten for the car had it been sold at an auction in a salvage yard. You will then be responsible for the repair of the car.

I mean it depends on different on U.S.A ,Canada....AND OTHER COUNTRIES

HOPE THIS HELPS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thiis helps alot , it gives me a plan B , thanks man , if the insurance company cant budge , then the least they can do is give me the info on where the car will end up so i can have a chance to buy it back . Thanks

[Accrdwgnguy]

Tell them sorry, but you still have the option of buying the car back. Usually 10% of what they paid you for the car.

[cb7pr]

Thiis helps alot , it gives me a plan B , thanks man , if the insurance company cant budge , then the least they can do is give me the info on where the car will end up so i can have a chance to buy it back . Thanks

Going off what mercyboy wrote, make them budge. You'll prolly end up paying more at the auction with addtl. fees. Here's my example: recently, my CB sat under a hail storm. USAA declared it total loss; they gave me 2 options:
1. Surrender vehicle, obtain X amount for value minus deductible.
2. Keep vehicle, obtain X amount minus deductible, and buyback cost (about $300).

I chose to keep it. The difference between both checks was about $400 total.

[Law Grandeur]

i always thought you pay the 500 down and you take your car back. thats how it was with my sentra (i decided against it though). i hate geico though...they suck

[ChIoVnIdCa]

They do not need to let you buy the car back.. Its MA... They wont let you in many cases due to insurance fraud... "steal" own car strip it.. keep parts.. get it totaled and collect... Rebuild car.. Recently they started to not offer buyback in some cases.

[cb7pr]

They do not need to let you buy the car back.. Its MA... They wont let you in many cases due to insurance fraud... "steal" own car strip it.. keep parts.. get it totaled and collect... Rebuild car.. Recently they started to not offer buyback in some cases.

I totally understand this point. That being said, law enforcement made no effort to take prints of the the vehicle for evidence to prove it was a case of fraud, so why does Tony have to suffer for their negligence and/or lack of service? I would present this matter to the insurance company, until they change their minds.

[ChIoVnIdCa]

I totally understand this point. That being said, law enforcement made no effort to take prints of the the vehicle for evidence to prove it was a case of fraud, so why does Tony have to suffer for their negligence and/or lack of service? I would present this matter to the insurance company, until they change their minds.

Doesn't matter... Its a Honda... They probably wont change there minds... They don't even have to suspect fraud at all... They are just looking to set a precedent that you would get a buy back option on a stolen recovered car.... Car theft/ insurance fraud on Hondas has been huge here... If he kept calling me and I was the adjuster I would offer him a 6k buy back... But im an ass

[cb7pr]

Car theft/ insurance fraud on Hondas has been huge here

Agreed. I know of hundreds of cases of auto insurance fraud in Mass., even ones where it involved deaths, particularly in the Lawrence/Methuen area. The things that people do for money, even if it risks death...

[tonylx87]

Thanks for all the advice fellas , best i can do is try , and at least try and get my rims back and thanks ChIoVnIdCa for the info

[ChIoVnIdCa]

Agreed. I know of hundreds of cases of auto insurance fraud in Mass., even ones where it involved deaths, particularly in the Lawrence/Methuen area. The things that people do for money, even if it risks death...

Yeah its to easy .... Buy s2000. Have seats "stolen" Whats honda want 8k a seat?.. So its totaled out... Buy it back... If they give you a low buy back you have a s2k for 2-4k.

[cb7pr]

Thanks for all the advice fellas , best i can do is try , and at least try and get my rims back and thanks ChIoVnIdCa for the info

Try man, fight it as much as you can, or at least squeeze them good if they dont want to give it to you.

[ChIoVnIdCa]

BTW when you get a new car I install alarms and gps/cellular tracking system professionally..