Hello,
I have a 2021 Tesla Model Y (67k miles) and recently got into an accident. I have a $1000 collision deductible, so fault doesn’t matter that much. The car is drivable but needs repairs and the guy at the approved collision center estimated it would cost about $12.5k (Tesla, I know). The insurer is American Family Insurance through Costco Connect.
The thing is, I had been planning to sell the car in the beginning of April and definitively won’t need a car in the U.S. for the next few years (moving overseas). At this point, I think I might prefer the insurance company to declare it a total loss rather than having to sell it on the open market with an accident history. The Carvana / Carmax estimates were about $21.5k preaccident.
There is also some preexisting damage to the front of the car from where I drove over a branch that was unfortunately connected to a fallen tree hidden by the mud. I thought it was a just a bit of plastic that needed replacing but the evaluator today said that it might require a new radiator because it appeared that the radiator had been punctured. If I report that damage I might to pay a second $1000 deductible, but it would push the insurance company closer to declaring the vehicle a total loss.
My main questions are (1) am I thinking about this the right way, (2) should I report the branch damage to the insurance company, and (3) can I ask for or push the insurance company to declare it a loss?
Not trying to do anything dishonest, just trying to understand the process and make the most rational financial decision.
Thanks in advance!
Do I want my vehicle to be declared a total loss?
byu/SubjectActive3784 inInsurance
Posted by SubjectActive3784
1 Comment
Do you still own money to a bank or finance company on the vehicle? If there is a lien on the vehicle they will want it fixed ASAP.
If they total it now what will you drive until you move? A rental may cost more than any lowering of the value of the vehicle.
If drivable now it might be better to collect a settlement now and repair and sell it when you do move away.