They will usually sell it back to you for a "scrap" price. Like $500 or something. Be sure they allow you to take off any "mods" you may have installed since the book value is just for the base factory specs. Unless they are paying you for any extras you installed you are allowed to keep them.
I once had a motorcycle I club raced on the weekends but was my daily driver. I got rear ended and the bike was totalled. Ins co. let me take off all my mods and I basically gave them back a rolling frame with no top end or gears! When the tow truck came to take it the guy had a fit since the tow yard had purchased it from the ins co. I showed them the letter stating I could remove my mods and the rects for all the work I had done. Thier response to me was "Well, then, just keep it!" Evidently they thought they would repair the bike and then sell it somehow or sell off the engine as running.

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My pics!!
'03 Rennie w/all Tupperware
Custom Roof Basket
Mopar Tubular Brush Guard
Garmin GPS V & Laptop w/Nav software
RAM products laptop mount
Maglite w/mount
Rear cargo bay tool cabinet
AllJs Rear Shelf
Rear receiver
250k miles!
LOST #CR051230

The insurance agent handling the jeep is pretty quick and i will no tomorrow the totalled or not totalled verdict. God i hope its totalled i just dont see how it couldnt

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2002 3.7L
64K

When my wife's car was totalled earlier this year, the insurance company gave her full market value for the vehicle, then gave her an extra $500 for the car (scrap value). When they pay you full market value for the vehicle, it is their way of short-changing you the "fix" fee. It would cost more to fix it, so they give you the lesser of two values.

At that point, the vehicle is still yours, just like it would be if they were giving you money to fix it. After they give you full market value they will (should) offer you scrap fee for it (ours was $500). Take it if you want it, or take the wrecked truck back if you don't want the cash.

Don't think of it as them selling it back to you, it's not theirs, even if they do "total" it.

You could get more than $500 out of the truck by parting it out, but you have to have the storage space for the scrapped vehicle and the time, patience, and mechanical ability to withstand the bartering system that is junkyard business. In the end you will get a lot more by parting it out yourself, but calculate your time into the equation too. And keep it sheltered against the weather while you part it out. Consider a GOOD vehicle cover for it for the duration of the process (and then sell the cover when you're done).

If you keep the vehicle, you might have to pay the towing fee that was originally incurred after the accident (accident site to current storage point). You will definitely have to pay the towing fee to get it back to your house (unless you have access to a flatbed).

Good luck man. I hope it all turns out okay for you. And I hope you keep hangin' with us whether you get another KJ or not.

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