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Jun 24 2009, 08:47 PM
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Advanced Member ![]() ![]() Group: Advanced Members Posts: 620 Joined: 24-December 03 From: Chester, VA Member No.: 22 |
The engine on my son's '04 Mazda3 was hydrolocked in a storm last Thursday. His insurance company had it towed to a Mazda dealer where they said it had water in the engine. A new engine from Mazda is $7800 installed. According to VA law, because his car is less than 7 years old, AND the damage exceeds 90% of the actual cash value prior to the damage, it will become a "nonrepairable vehicle". That means if he takes salvage on the car, he can't put it on the road. His insurance company is required to tell DMV and they will void the title, and remove the tags. I could understand it had the car rolled over, or hit a tree, but not for mechanical problems. Any insurance experts out there?
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Jun 25 2009, 01:53 PM
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Experienced Member ![]() ![]() ![]() Group: Advanced Members Posts: 1,936 Joined: 26-September 05 From: Youngstown, OH Member No.: 896 |
Howdy,
I don't know if he or you is mechanically inclined, but you may be money ahead to let them total the car then buy it back. I've never done it, but I've had plenty of friends who've gone that route. Then install a used engine yourself or pay the independent. Downside is that the car will now have a salvage / rebuilt title. That's going to decrease its value significantly when it comes time for you to sell it, but otherwise doesn't matter. How in the heck did the engine get hydrolocked in the first place? Mark |
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rpoz-29 Insurance issue. Any experts out there? Jun 24 2009, 08:47 PM
CamaroFS34 I sent this thread to a friend of mine who works f... Jun 24 2009, 11:40 PM
rpoz-29 The price of $7800.00 was from the dealer. Th... Jun 25 2009, 01:38 AM
ERVRCG Sounds like the makings of a good track car. Jun 25 2009, 02:53 PM
rpoz-29 Mark, the issue is this "non-rebuildable... Jun 25 2009, 10:36 PM
77chevy Are you sure the title isn't marked 'Salva... Jun 26 2009, 01:36 AM
rpoz-29 The headers are holding up fine. As for the car, u... Jun 27 2009, 01:38 PM
CamaroFS34 QUOTE (rpoz-29 @ Jun 27 2009, 09:38 ... Jun 27 2009, 04:17 PM
rpoz-29 Good thinking Karen, and I'll ask around. But ... Jun 27 2009, 06:13 PM
Todd QUOTE (rpoz-29 @ Jun 24 2009, 04:47 ... Jul 14 2009, 01:39 PM
00 Trans Ram Check VA laws and your own policy. I'll bet ... Jul 14 2009, 02:15 PM
rpoz-29 He ended up taking the loss, and took the $7,... Jul 14 2009, 10:05 PM![]() ![]() |
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