Hello. 07 Tundra, 176K, rusted bed. May make a hail claim and if it is totaled then buy it back. If I buy it back would probably just have liability insurance. After that if someone else hit it would they just pay what it is currently worth or would it be deemed virtually worthless as it had already been totaled? Any other thoughts/advice? Thank you for your time.

They would pay the estimated value that it had immediately before the accident.

Keith

Yep been there done that twice once I made money from what I had I to it the other I ended up fighting with the other guys insurance over the value but got what I though was a fair price

Just remember you don’t have to take what the offer you

I guess every insurance company will have different policies, but here it’s provincially run. We’ve written off a Toyota Matrix twice. Once for hail, gave us book value, and bought back at about 1/4 of what they gave us. Then a fender bender and they gave us roughly what we bought it back for a few years earlier. Best deal ever! Now when there’s a storm rolling in and everyone’s pulling their trucks into the garage, I’m pulling mine out.

If you make a hail claim with State Farm and don’t fix it, they take that amount off if you get more damage ever again. Did it twice, just lived with the hail dings.

Retail value, minus preexisting damage.

But your negotiating skills can play a roll !