2015 GMC Canyon, parked at airport in Denver, CO and was hit hard by a hail storm.
USAA offered me about $16k for the total loss. Vehicle has been paid off for years, so seems like a great deal. I called and asked if I could keep it. No glass damage, only dented hood, roof and passenger side of vehicle. I was told I could do an owner retained, but they’d subtract the salvage value, and would wind up with about $10k, plus the truck.
Are there any major downsides to keeping a vehicle like this? To me it sounds like a win-win, but unsure what other ramifications are out there. In terms of insuring a vehicle after, any trouble keeping it on the road with a salvage title, etc.
Thanks in advance.
Posted by fccodad
2 Comments
If you don’t care about the cosmetic damage and there aren’t any mechanical issues then yeah go for it.
You won’t get a salvage title from hail in Colorado. You may want to confirm with your agent or USAA to see if you can still insure your car with full coverage if you retain it.
If there is a pre-existing hail damage on the car and you file a claim in the future, the insurer will exclude those damages in the estimate.