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Car insurance vehicle buy back question

Posted on 8/27/16 at 10:36 am
Posted by Bourre
Da Parish
Member since Nov 2012
24227 posts
Posted on 8/27/16 at 10:36 am
Can you buy back a vehicle that was totaled out for a flood claim? The adjuster on the phone said there was a law in La preventing this from happening. I have been told otherwise and that you can get a salvage title. I'd like to keep my vehicle if I can
Posted by Walt OReilly
Poplarville, MS
Member since Oct 2005
124694 posts
Posted on 8/27/16 at 10:42 am to
I read on here a few days they are letting people just keep their flooded cars
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/27/16 at 11:10 am to
quote:

I have been told otherwise and that you can get a salvage title. I'd like to keep my vehicle if I can


In Louisiana, if a car is totaled by an insurance company due to flood, the insurance company is required to notify the OMV of this and apply for a title carrying a certificate of destruction. The certificate allows the car to be sold for salvage, parts, scrap, etc., but from that point the car can never be registered for road use or insured in the State of Louisiana again.
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 11:20 am to
quote:



In Louisiana, if a car is totaled by an insurance company due to flood, the insurance company is required to notify the OMV of this and apply for a title carrying a certificate of destruction. The certificate allows the car to be sold for salvage, parts, scrap, etc., but from that point the car can never be registered for road use or insured in the State of Louisiana again.


False. I have a salvage due to flood Porsche in my garage right now that was purchased back from the insurance company here in Baton Rouge. The car is titled, registered, and fully insured for an agreed upon amount.

Edit- The more I think about it the more I don't think the salvage title says anything about how the car was salvaged.
This post was edited on 8/27/16 at 11:24 am
Posted by SuperSaint
Sorting Out OT BS Since '2007'
Member since Sep 2007
151512 posts
Posted on 8/27/16 at 11:23 am to
quote:

Porsche in my garage right now





How much top quality poon you pull Baw?!!!
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/27/16 at 11:27 am to
quote:

False. I have a salvage due to flood Porsche in my garage right now that was purchased back from the insurance company here in Baton Rouge. The car is titled and registered.


True. If it was registered after 2005 (lots of wet cars coming out of NOLA that year, for some reason), someone broke the law and it's illegally registered. What's your address so I can notify the OMV so they can put the certificate of destruction on the title so you don't sell your flooded car to someone else?

You have to get a certificate of destruction for a flooded car

EDIT: Of course, this is if the car was registered in Louisiana when it flooded. If it was registered in another state when flooded, there may be a way around it.
This post was edited on 8/27/16 at 11:38 am
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 11:27 am to
quote:


How much top quality poon you pull Baw?!!


Zero, I'm married. The car is cool though.
Posted by pjab
Member since Mar 2016
5773 posts
Posted on 8/27/16 at 11:38 am to
False.

My family had a TJ that took salt water over the dash in Katrina. Insurance totaled it and it was bought back for $2200. After few cans of WD40, silicon spray, and a complete fluid change ($400), it's still going strong today. It's titled, registered, and insured.
Posted by pjab
Member since Mar 2016
5773 posts
Posted on 8/27/16 at 11:39 am to
What year and model porsche. I'm assuming it's older or didn't have much damange.
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/27/16 at 11:51 am to
quote:

False.

My family had a TJ that took salt water over the dash in Katrina. Insurance totaled it and it was bought back for $2200. After few cans of WD40, silicon spray, and a complete fluid change ($400), it's still going strong today. It's titled, registered, and insured.

You can say false all you want. Was it titled after Dec. 6 2005 on a flood buyback? It's illegal. Just because you have an illegally titled car doesn't mean that the law making it illegal doesn't exist. Read the citation I linked to.
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/27/16 at 11:56 am to
Also, we're talking about TOTALED cars, so if the cars you guys have weren't totaled, then all bets are off and I shall refrain from notifying the OMV. The law I cited applies only to cars that were bought by an insurance company and totaled due to water damage, which is defined elsewhere. Something like 75% of the total value of the car in damage to engine, powertrain, computer, etc., due to water.

But, the OP was asking about buying back flood totaled cars from the insurance company.
This post was edited on 8/27/16 at 11:58 am
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 11:57 am to
quote:

What year and model porsche. I'm assuming it's older or didn't have much damange.


It's a 1997 993. It was flooded in 2008. Complete loss, fully underwater. Salvage title issued in 2009. I bought it, incomplete, a few years ago and finished the restoration. It's insured similar to a hotrod or classic car for an agreed upon value.
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 11:59 am to
quote:


You can say false all you want. Was it titled after Dec. 6 2005 on a flood buyback? It's illegal. Just because you have an illegally titled car doesn't mean that the law making it illegal doesn't exist. Read the citation I linked to.



You're wrong.
Posted by pjab
Member since Mar 2016
5773 posts
Posted on 8/27/16 at 11:59 am to
quote:

1997 993


That is all.
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 12:00 pm to
quote:

That is all.


Don't get too excited, it's a non turbo.
Posted by TigerstuckinMS
Member since Nov 2005
33687 posts
Posted on 8/27/16 at 12:04 pm to
quote:



You're wrong.


And you clearly have not read the LAW I cited. I didn't just make that up. I didn't link it from someone's blog. That link goes to the online copy of the Louisiana Revised Statutes. You can refuse to read the law or believe what the law says, but it doesn't make your car any less illegally titled.
This post was edited on 8/27/16 at 12:04 pm
Posted by pjab
Member since Mar 2016
5773 posts
Posted on 8/27/16 at 12:05 pm to
It's a salvage title, you get to make it whatever you want.
Posted by mctiger1985
Baton Rouge
Member since Oct 2009
3695 posts
Posted on 8/27/16 at 12:06 pm to
My employer sent out a notice to all agents that due to it being declared a state of emergency, vehicles cannot be bought back.
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 12:06 pm to
quote:



And you clearly have not read the LAW I cited. I didn't just make that up. I didn't link it from someone's blog. That link goes to the online copy of the Louisiana Revised Statutes. You can refuse to read the law or believe what the law says, but it doesn't make your car any less illegally titled.


I'm not sure you understand the law you cited.
Posted by Barf
EBR
Member since Feb 2015
3727 posts
Posted on 8/27/16 at 12:08 pm to
quote:

My employer sent out a notice to all agents that due to it being declared a state of emergency, vehicles cannot be bought back.


Nothing says the insurance company is required to buy the vehicle in the first place. If a $100k car goes underwater there is zero chance the owner would let the insurance company buy the car from them.
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