I previously wrote that I was awaiting a decision by the insurance company on the repair of my car. This morning, I received a notification that the adjuster has declared my car a total loss. They wanted to know if I would keep the car or release it to them. Based on my decision, they will have a department start their process.
The car runs well. It is a Prius, which gets excellent gas mileage. And it is a higher-end model with some great features like keyless start. Even after the accident, it still ran well with the exception of wind noise from the incomplete seal from the doors. It would be worth keeping a while longer.
Unfortunately, keeping it would mean that I could no longer use it to drive for Uber or Lyft as they do not allow damaged vehicles to transport passengers. Furthermore, if I decided to keep and later sell the car, then I'd take a hit on the resale value from the damage. And I'd drive around in a car with wind noise.
My decision is to release the car to the insurance company and accept payment for it. This means I would get back my $2500 deductible, plus the difference in its replacement value. I hope they are reasonable in their offer. I have already searched for comparable replacements and could not find any for that particular model and year. There seem to be plenty of other model years that cost significantly more, and older models that cost about the same. This makes it difficult to argue if their offer is low. At best, I can use the Kelley Blue Book estimate.
I am awaiting to hear an offer from the adjuster. Assuming they have a good offer, then I suppose I'll be without a car. Fortunately, I have a newer car that needs a new transmission that I can repair and get on the road again. This could take a couple of weeks and would be the most economical option. Alternatively, I could sell the car after repairs and use the combined proceeds for another.
In the meantime, I just have to wait to hear from the adjuster.
