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I am going through a similer experience.
You must ask your insurence company what the salvage value of the car is.
I know of no reason they would not allow you to keep your car. They will simply deduct the salvage value and any deductible then send you a check.
Chances are you may need to change you title to a salvage title, provide a copy to your insurence company. Once you have a salvage title all is not lost, you should be able to retital the car when it passes a state saftey inspection. Keep in mind you will be buying your car back by the pound.
I resently totaled my 97 jeep cherokee sport 4x4 12-22-08 It was totaled as it cost more to repair it thans its book value.
I am buying my jeep back for 300.00, I can part it out or repair it myself for about 1500.00. That is the deal i worked out with Nationwide.
They are even going to pay for the jeep to be towed back to my garage.
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