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  • Michael Goodman

I totaled my car, can I buy it back from the insurance company?

When a car is deemed a total loss by an insurance company, the insurer will usually declare the car to be worth less than the cost of repairs and will then take possession of the car.

After the insurance company takes possession of the car, they will usually either sell it to a salvage yard or auction it off. If the car is sold to a salvage yard, it will usually be stripped for parts or used for scrap metal. If the car is auctioned off, it can be bought by another individual or company, who can then repair it and put it back on the road.

If you want to buy your car back from the insurance company, you may be able to do so, but it will depend on the company's policy and the car's condition.

You'll need to contact the insurance company and inquire if they are willing to sell the car back to you. Many insurance companies are willing to sell the car back, often at a reduced price, or at the fair market value of the car after the accident. However, this is not the case in all situations, it depends on the company policy and state laws.

You should also be aware that, if you do buy your car back, you will need to have it repaired and pass a safety inspection before it can be driven again. Depending on the severity of the damage, the cost of repairs could be higher than the value of the car.

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