Finally settled my insurance claim with Hagerty.

[2000GTS]

How were you able to keep the car(in order to sell it for $20k) if Hagerty "purchased" it from you for $48k?

I never said they purchased the car for $48k. The claim was paid to fix the damage. Instead of fixing it, I sold it and kept the money.

Bill

Oh I misread, I thought I read it saying that you had the car totalled(which to my understanding the insurance company purchases it from you). But apparently you were getting it fixed.

Now I have another question for you. Back when I was insured with Allstate and had an accident I took my car to an Allstate adjuster(with an estimate from local body shop) and they cut me a check in the exact amount of the estimate. Basically they just review the estimate to make sure it is legit and cut me the check. But when they did this for me they put both my name and the body shops name on the check. How did you get them to write a check to just you? Or is this just an Allstate thing?

Not just a Allstate thing. Hagerty also does this. I told them that I didn't want to fix it (It's my choice, right?) and requested the check in my name only. They agreed on the condition that I remove the car from the policy (obviously they're not going to continue to insure a wrecked car) and I pay off the loan on the car. I complied with both stipulations, and they sent me the check in my name only.

Bill

 

[2000GTS]

I'm missing something.........when they gave you the $48K, didn't they then own the car?

How is it that you were able to get paid for the car, and then keep it to sell?

NO! The $48k was money for a repair, not to total. The car was insured for $65k, if they totaled it that's what they would have had to pay.

Bill