Car Declared Total Loss but Still Drivable
Hi everyone,
A couple of weeks ago, I had an unfortunate encounter with a deer while driving our 2015 Subaru Outback. The damage is purely cosmetic, yet our insurer, Meemic, has classified it as a total loss.
We believe the car still has at least another 100,000 miles of life left, and the last thing we want to do right now is go through the hassle of buying a new vehicle. Unfortunately, we haven’t saved up enough to pay cash, and I’m not keen on taking out a loan for something I don’t view as a worthwhile investment.
I’m looking for guidance on the insurance implications of continuing to drive this car. What should we be aware of moving forward? Any advice would be greatly appreciated!
It’s understandable to feel overwhelmed in this situation, especially if you’re not ready to buy a new car. Here are some key points to consider as you prepare to continue driving your Subaru:
Insurance Coverage: Since your insurer has declared the vehicle a total loss, it’s important to contact them to understand how this impacts your coverage. Some insurance companies will still allow you to keep the car, but they may reduce your settlement offer. You can often negotiate to retain the vehicle, but you should confirm that your insurance policy will still cover liability if you’re driving a vehicle that’s considered a total loss.
Registering the Vehicle: If you decide to keep the car, check if you need to apply for a “salvage” or “rebuilt” title, depending on your state’s regulations. This designation may affect your registration and insurance options moving forward.
Safety Concerns: Since the car is still driveable but has cosmetic damage, make sure that any essential safety features are intact. Have a trusted mechanic inspect the vehicle to ensure that it is safe to drive, as cosmetic damage can sometimes obscure underlying issues.
Value Depreciation: Be aware that since the vehicle is considered a total loss by the insurer, its value will be significantly impacted if you need to sell or trade it in the future. This might affect your decision-making down the road if you choose to purchase another vehicle eventually.
Driving with Confidence: If you feel safe in the vehicle and it’s mechanically sound, continue driving it while keeping an eye out for any recurring issues. Regular maintenance will help prolong its lifespan.
Finding Alternatives: In case you decide you do want to let go of the Subaru in the future, consider options like leasing a vehicle or exploring inexpensive used cars that might fit your budget and avoid interest-bearing loans.
Ultimately, take your time to assess your financial situation, and don’t rush into a new car purchase if it’s not the right time for you. Good luck!