Reader question:

When my car is declared a total loss when I file a car insurance claim, do I have any options about what happens to it?

Rico

Thank you for your question, Rico.

It depends on how badly you want to have a car to drive, really. Many people become extremely attached to their high performance cars, and so even after they have been declared a total loss and a car insurance claim settlement has been given, would be unwilling to give the car up completely. If you choose, you can keep the car, take the settlement for its actual cash value and try to fix it. Or you can just give it up, let it be junked, and try to buy yourself a new vehicle.

Cheers,

Fashun Guadarrama.