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What does an insurance company do with salvaged personal property?
Wiki User
∙ 10y ago
If an insurer pays for the total loss of personal property, including a car, it usually becomes the owner of the property as part of the resolution of the claim. The property is then sold so that the insurer may recoup some of its loss. There are some entities, such as scrap metal companies that deal in that kind of property.
Under some circumstances, the insured wishes to keep the property. That can usually be negotiated, but the payment to the insured on the claim may be adjusted accordingly.
Wiki User
∙ 10y ago
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Does insurance cover personal property lost in a car wreck?
Depends. If you are at fault, the other insurance company has to cover property loss. Personal property loss is most likely an option (not basic coverage) on your policy.
What are the insurance policies that Farmer's Insurance company offers?
Homeowners, Rental Property, Commercial Property, Commercial Auto, Personal Auto, Life, Umbrella.
What are the risks of not having personal property insurance?
A personal property insurance protects the workplace and any assests the company owns. Without it you can lose copyrights and it would leave damage to the integrity of business.
In what divisions is the Lexington Insurance Company involved?
The Lexington Insurance Company is involved in the following divisions: casualty, programs, healthcare, property, captives/ART, and personal lines insurance.
Can you collect from a company's insurance bond for damages on personal property?
If you qualify for coverage under the policy.
My car was totaled. it already has a salvaged title. what will the insurance pay?
It depends on many aspects, however since it already has a salvaged total it will be significantly lessened than if it didn't already have a salvaged title. Your insurance company should be able to give you specifics as to why they are offering what they do.
When was The Personal Insurance Company created?
The Personal Insurance Company was created in 1974.
What kind of policies does the 21st Century Insurance Company offer?
21st Century Insurance is a property and casualty company and policies offered include automobile insurance, renter's coverage and homeowner's insurance. The company also offers personal liability insurance underwritten by a partner, RLI Insurance Company.
What type of insurance do the company Chubb offer?
The Chubb Group provides insurance for business and personal related matters. Their business insurance covers property and casualty while their personal insurance covers cars, homes, and valuables.
What services do the company ANPAC offer?
ANPAC, or American National Property And Casualty Company, is an insurance company. They deal with insurance of personal vehicles, classic cars, motorcycles, RVs, watercraft, and homes. They also handle commercial insurance, agriculture insurance, umbrella insurance and life insurance.
Can cosmetic damage be a salvaged title?
Yes, any condition that caused the car to be totaled by an insurance company could cause it to have a salvaged title. A good hailstorm can do thousands of dollars of cosmetic damage resulting in a salvaged title.
Is landlord insurance a reliable insurance company?
Landlord insurance is not an insurance company. It is a type of insurance that covers a owner of a rental property from damages that may occur to their property.
