Legal Question in Personal Injury in Georgia
My vehicle has been deemed a total loss. The ins co says its only worth 12K and i owe close 16K. I also have gap insurance. I would like to retain the salvage vehicle but the ins company states it has to be detroyed and that I need to sign this power of attorney they sent me in order to pay my lien holder and handle the slavage of the car. Please advise me of my rights and explain this process.
3 Answers from Attorneys
You don't get to have your cake and eat it too. If you expect the gap insurance and your insurer to pay they won't let you keep the car as they'll sell the car to get some of their money back.
It looks like the insurer explained it you.
If you want the car you could make an offer to buy the salvage from the insurer. As Mr. Ashman correctly pointed out the insurer will want to sell the salvage (and is legally entitled to do so) to cut its loss so maybe you could buy it from the insurer instead. Alternatively you might be able to buy the wrecked auto from the salvage yard after the insurer sells it. That would be a separate transaction post settlement of the property damage claim.
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