Agreeing on an Auto Insurance Settlement Offer: When to do it

Possibly.  That will depend on what price they decide to give you now.  If it is a fair price, then no harm, no foul.  But, if they make you an offer that you believe to be lower than the value of the vehicle, you may have a problem on your hands.  Of course, you can always try to negotiate the amount if they are willing to consider documentation supporting a higher value, but since you have already signed the title over to them, legally the salvage belongs to them and they don’t have to do anything.

In your policy, there is an Appraisal Clause that gives you the right to obtain a third party opinion regarding the value of your car.  The clause typically provides that you and the insurer each hire your own appraiser to determine the value of the vehicle.  If the two appraisers agree, it’s settled. If not, a third (referee) appraiser is hired to help reach the decision.  Again, since you have already signed the title over, the insurance company might decline and you will have to argue with them over your right to get an appraisal.  If it gets to this point, you might require the services of an attorney to intervene on your behalf.