Vehicle Titles

Can you insure a vehicle with a salvaged title?

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2006-06-27 11:14:17
2006-06-27 11:14:17

Yes, you can certainly get liability on the vehicle, but comprehenisve and collision may not be a very good value since the insurance company will probably not want to pay out much in the event of another collision. In fact, they may refuse to allow comp and collison on a salvaged title. You may have to make a few phone calls but you should be able to find satisfactory coverage. We do all of the time, howwever we are very carefull about not paying for the same damage twice. We would not recommend covering the car for comp or collison due to those coverages having been maxxed out. We would also want the state to inspect the vehicle to be certain it was road-worthy. We then tell our clients that should they choose to repair the car to bring us the documentation so that we can prove to the underwriters that all repairs have been made. Otherwise liability only is still available.

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most insurance companies will insure a vehicle with a salvage title. As long as it is state certified.

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The title itself will sate that the car is a salvaged vehicle.

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You can ask anything you want to for it. Whether you can get it is another matter. California law requires you to tell them it is a salvaged title vehicle. If you do not tell them you have committed fraud and are subject to fines and jail time.Note: a legal salvage title will indicate that the vehicle is salvaged!

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No, but I believe it IS a crime to misrepresent the title if it is a salvage,

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There is no law against financing Salvaged Titles. It is just that most banks and credit unioins chose not to finance these vehicles. The problem is that there can be liability if the vehicle is for whatever reason unsafe, and you sometimes do not know why a vehicle was salvaged. It could be because of frame damage or other serious damage, or it could be for water damage (i.e., Katrina), or it could be that it was just stripped by a theif, and has been rebuilt and is perfectly good, but since it was totaled by the insurance company, it is "salvaged". Some lenders will lend against a salvaged title. But they will take off 40% of the value of the vehicle due to salvaged title. So if the vehicle is worth $10,000 as a regular title, a salvaged vehicle will be worth about $6,000. I believe SafeCo might be a source for insurance. Car Cash Loans in Los Angeles (www.CarCashAuto.com) will lend against salvaged titles, according to their representatives.

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Totaled vehicles which have been rebuilt generally have a "salvaged vehicle" title, or whatever it's called in your state. Vehicles with a salvaged vehicle title are by definition, not as valuable as the same vehicle with a clean title. If the vehicle is subsequently in another collision, the insurance company will not pay as much since the loss was not as great. Insurance companies only need to pay you for the actual value of the vehicle.

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Many companies will but the policies vary from state to state even with the same insurance company.

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When I hear about a Title for a vehicle I think either clean or salvaged. I've personally never heard anyone use the term "Regular" for describing the title. Also someone could be meaning that they have the "regular title" for the car, which would mean they have the paperwork for it, which ON THAT paperwork it would show whether the vehicle is clean or salvaged.

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When an automobile is issued a salvage title, the automobile can never get a clean title. The salvage title will always remain with the vehicle.

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Absolutely,a dealer can sell you a vehicle with a salvaged title. Each state has there own laws but in most states you must disclose to the consumer that the vehicle you are selling to them has SALVAGED history. The selling dealer must disclose this on the state title forms and on the BILL of SALE.If the selling dealer does not disclose this,then you have a legal rights against the dealer.

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in most states, even if a salvaged vehicle has been repaired it is still a 'branded' title...and thus worth less.......in the states i work in a fully repaired salvaged title vehicle is worth anywhere from 30-50% less on a total loss, (reduces the actual cash value)........now, if salvaged vehicle say is worth 4k and damages are 1k, then they will repair the damaged portion......

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Yes you can. Check with your motor vehicle department in your state. In most states, you will have to repair the damage, get the car inspected and pass inspection before they will issue a salvage title. This process will take several months.

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Once a vehicle is considered salvaged, you cant get it clear for any reason, even after its repaired.

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Usually you can, you can buy it back from the insurance company for a "salvage" price, you will then have a salvaged title and wont beable to insure the vehicle with full coverage any longer only liability. Talk to the adjuster about it.

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It is very difficult to by a salvaged cars. In some cases the vehicle is in good enough shape that with some repair it can be road worthy again so it is sold with a salvage title. When the vehicle is inspected and once again registered a normal title will be issued.

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To give you a basic answer, the insurance company will only insure a vehicle if the listed owner is on the policy. Mark

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Yes, it will just be issued a salvage title to make sure is disclosed upon sale.

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you can insure it sure, but i imagine you are wanting to know if you can get collision and comp coverage (covering damage to the salvaged title vehicle)...has it been repaired? some insurance companys (most really) will insured it but beware that those prior claims (and salvage title) will show up if another claim is reported, (to any company that does it's job by running searches on all vehicles in all claims).......so it is possible you could be paying a premium higher than the vehicle is worth....for instance, your premium is based on the yr/make/model etc (among many other underwriting stipulations of course)...but your's is worth about 60% of that due to prior damage/salvage title...and what you will get in the event of a total loss is the actual cash value of that vehicle......including any applicable deductions in value due to this salvaged title.....

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On every auto application, there is a question will ask: "Does the vehicle have a salvaged or branded title?" If this is the case, you will not be able to put full coverage, (comprehensive and collision coverage) on the vehicle. Sometime you can get special exceptions from your insurance carrier to get the full coverage put on if all damage was repaired. It is much harder to get full coverage on a salvaged title vehicle.

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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.

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Go to the state Motor Vehicle office, where you would normally register a vehicle. There may be extra steps to take to get title for a salvaged vehicle. Don't buy cars without getting a title. EVER. If the car was stolen you may have to return it.

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As far as I know all should, but insuring for any more than liability and perhaps uninsured motorist would be a waste of money.

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A vehicles need a title to be registered/insure, show that you are the rightful owner. The year of the vehicle has no baring on needing to have a title. If the vehicle is from a junk yard, or totaled, a "salvage title" is available.


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