My question involves insurance law for the state of: TEXAS
My 1990 truck was deemed a total loss by the other driverís insurance company here in Texas.
Apparently it doesnít take much damage to a 1990 vehicle before an insurance company declares it a total loss.
It is definitely not a total loss to me. In the mean time I had a body shop fix the truck and now itís back in great condition.
I do not feel itís appropriate to total the truck with a salvaged title. But, the insurance company is telling me that I have no choice but to apply for a salvaged title if I am to receive a settlement.
Could I withdraw my insurance claim and not accept a settlement? I simply donít agree with their conclusion and wish to move on in my life. I donít want any of their money and I donít want them submitting information to the state that would cause me problems with my license plate renewals and inspection stickers. I have no plans to sell the truck, though I understand the legal requirement of notifying potential buyers of the vehicles accident history.
I read that in the state of Texas an insurance company cannot voluntarily submit information to the state unless they settle and pay out on a claim.
Iím having a difficult time finding the answers to these questions. I would greatly appreciate any and all help.