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  • I have a salvage/reconstructed car right now with liability and comprehensive. Since a reconstructed car is worth roughly 40% less than a comparable clean titled car I will be paid 40% less if the car is totaled again plus any credit for any verifiable upgrades (car alarm, new sound system, etc). Rates will not skyrocket, but you will be paid if you trash the car, so don't pay too much for it in the first place and make sure it is a good car - get a re-purchase inspection by a pro.
  • Of course it is going to skyrocket.Not only will it go up but the amount paid to you in the event of an accident is not even worth paying the premiums of insurance at all.Who knows if you will even get paid by the insurance company.The rates are all a scam anyways just like new car prices.You should not buy a salvage titled vehicle anyways.There are a lot of things that can be wrong with the car that you are not made aware of and may cost you through the roof to get it repaired properly on top of the inflated rates for bad coverage you wont get.
  • Vehicles with a "salvage title" are seen as being worth less (or worthless) compared to the same vehicle with a "clean title". This has nothing to do with the actual quality or condition of the vehicle itself (indeed, i have a couple salvage title cars which were a great bargain and very reliable). The insurance rates will most likely be approximately the same, but in the event of an accident and insurance settlement, the vehicle will be considered by the insurers as almost completely valueless. When it comes to salvage title vehicles (as with any used vehicle) buyer beware.
  • When you purchase a repairable vech ( the decision between a parts only and repairable is the insurance co)
  • In Mass prior to being able to register and insure the must have it inspected by the State Police after its been repaired
  • Once this has been done your good to go.
  • As for the cars value, yes the title does state, "reconstructed" former salvage.
  • When you insure the car, you pay the same rate for insurance as someone who has a clean title.
  • If you paid less for insurance it would indicate that the car is worthless than another with a clean title. but the insurance co doesnt allow for that. if they try to pay don't settle they must pay you on the book value (minus any prexisting damage)
  • Example; Car is stolen and recovered after 30 days, owner has been paid for the car, its sold for salvage but with a repairable title
  • If the insurance company has a problem with paying a claim on a salvage car maybe, they should sell them for parts only

All of the above is not necessarily correct.

  • I guess different states have different laws. I drive a car that has a salvage title. I didn't have to have the vehicle inspected by the state police after it was repaired. I didn't have to have anyone look at the car. I have full coverage insurance on the vehicle, and I dot pay any more than I do for any of my other vehicles. Also, the car is the best, most reliable used vehicle I have ever owned. I have been driving it for over a year and I haven't put any money in it for anything other than upkeep and gas.
  • Laws regarding salvage cars vary from state to state. A reconstructed salvage car is worth less than a comparable clean titled car (KBB doesn't ever value them) and insurance will likely pay you less for it if it's totaled again (how much so varies but somewhere around 40% less than a clean titled counterpart is a good guess plus credit for upgrades with receipts). Your insurance does not skyrocket, however. Keep in mind that none of this really matters if you paid a reasonable price for the car to begin with (say, 40% less than a comparable clean titled car), so should you total the car, you should get a fair cash out from the insurance company. I own a salvage/reconstructed car and just put comprehensive and liability on it since the car's not worth much anyway. But boy, it's the best car I've ever owned and it's been trouble-free!
  • Only buy salvage cars that are at least 8 years old since it doesn't take much to total/salvage an older car since they're not worth much. Now some states salvage theft recovery vehicles - these make excellent purchases but again, they are devalued in the market due the branded title so don't pay retail for them even though there may be no damage whatsoever.
  • Depending on your state, the vehicle may not be eligible for full coverage. Remember that a salvage title means that the car has already been declared totaled and most likely it was an insurance agency that did so. These vehicles have already been paid out to someone and a vehicle that was paid out as totaled will not be paid out again. Texas does not fully cover salvage vehicles. You can get liability coverage; you may get uninsured/under-insured bodily injury; uninsured/under-insured property damage might be available for vehicle contents.
  • I've rebuilt/owned a number of totaled cars in Indiana. The rules do vary greatly from state to state. In Indiana anyone can rebuild a totaled car. All that is required is a police inspection for stolen parts. Illinois only allows licensed re-builders to rebuild cars. Sometimes the salvage brand seems totally random. All most all stolen recovered cars get branded salvage and mileage not actual. Here the brand can be removed with insurance company wavier on stolen recovered damaged less than a certain % of value as long as the title doesn't say mileage not actual.
  • I've never had an insurance issue, but I've never made a claim. The insurance costs were the same as a regular car. I did have a buddy with a rebuilt Suburban that was stolen and never recovered. The insurance company would not pay full book value because of the branded (salvage) title. As I recall, he got about 20% under book value.
  • Rebuilt cars can be a great value, but favor people who keep their cars for long periods of time. Usually the warranties are voided. They can be hard to sell because banks usually won't finance branded cars and people are skeptical. I've had no troubles selling mine, but they were nice cars 6-10 years old and worth less than $4000 when I sold them. A $10,000 rebuilt can be a very hard sell.
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โˆ™ 2015-06-05 16:31:26
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โˆ™ 2015-06-05 16:31:01

You can usually find Liability insurance for a salvage vehicle if you look around a bit. Most Companies will not offer you Full coverage for a salvaged vehicle. Some will offer liability only, Many will decline to offer any coverage at all declaring the vehicle as prohibited from the Insurers rate plan. This is because most Insurers consider a Salvaged vehicle to be inherently more dangerous than a non-salvaged vehicle. It is not going to skyrocket, but you may not be able to get collision or comprehensive coverage on it

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Q: If you buy a car with a salvaged title will your insurance sky rocket?
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If you are going to buy a car with a salvaged title how much less should it book for than the same car with a clean title?


Buy salvaged cars?

does a seller have to tell you a car has been salvaged?

What if you don't have insurance on a car but need to get a replacement title in WV?

You will have to buy auto insurance on the care before you can transfer the title.

Can you buy title insurance?

Title insurance is a specialized type of insurance that is not generally sold by insurance agents. It is usually provided by an attorney and underwritten by a title insurance company who specializes in this type of insurance. The title insurance company relies on statements and work done by the attorney when he does the title search and he has some liability for his work. You can't just decide that you want a title insurance policy anytime. It is usually done when you purchase a piece of property. I suppose that if you wanted to pay for a new title search you may be able to buy a policy at a time other than at closing.

Can the owner keep a car that is totaled but is still operational?

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.

When a vehicle is involved in an accident and declared a total loss does the insurance get to keep it?

Yes. In most states, you can then buy the car back from them at a salvaged price.

What is needed to rebuild a truck title on a salvaged vehicle?

A salvaged title means that the car was deemed a total loss by an insurance company. There are several reasons this could have happened. It is best to talk to the owner and find out exactly what happened and why they didn't get it fixed. Once you know what happened to the car you can start to see what you need to rebuild the truck. Also looks at this website for more information: The biggest problem with salvage cars, is to buy it most salvage cars resellers are scamers, the most difficult thing is to buy a car you can use site like and buy a car directly from dealers or insurance auto auctions, then you simply find a cheap body shop and you can save up to 50 % of the retail price. Good Luck

What is the advantage of customer to buy insurance from Chicago Title insurance Company?

The Chicago Title Insurance Company has a strong track record for providing solid escrow and settlement advice, reasonable rates on title insurance and dedicated agents for each client.

When did Fidelity National Financial buy the Meridian Title Insurance Company?


Does Florida law require title insurance to transfer a property title?

No, Florida law does not require that title insurance be issued. The only requirement to transferring title, is that a proper deed be recorded. However, having said that, if you are buying a property from someone, title insurance is greatly recommended. Title Insurance is the only thing that protects you in the event you receive a fraudulent title, or you later find out that there are undisclosed liens or encumbrances against the title. I would never buy any property without the protection of a title insurance policy. If, on the other hand, your parents are transferring to you their property, and you already know the history of the title, title insurance would not be needed.

How does a salvaged title effect the value of your vehicle?

AnswerHaving a salvaged title usually means that an insurance company has determined that it was a total loss from a collision. This will significantly reduce the value and insurance companies will be reluctant to provide collision/comprehensive coverage. If you know and trust the person who rebuilt the vehicle, it can be a good deal but if the rebuilder didn't know what he was doing, it probably won't. AnswerA car is totaled/salvaged when an insurance company determines the repair costs exceed appx 75% of the car's actual cash value (percentages vary from state to state). A salvage title car that is restored and roadworthy is worth 60% of the value of a comparable clean titled car. If it's still salvage/unrepaired maybe 25%. Buying a salvage car is just like buying any other used car. Have it inspected by a pro and if it checks out and is cheap enough buy it! Keep in mind that an older car is easily totaled by insurance companies since they're worth less. A new car with a salvage title could mean its damage exceeded $15,000 and that is major

Can a cosigner request half of the insurance check if his name is on the title but he didn't have to make any payments or buy insurance?

Cosigner just means someone who guaranteed the note. What's on the title? If the cosigner is on the title, he/she is entitled to half of the proceeds of a sale or insurance liquidation because it's the TITLE that determines the ownership, not who paid for it.

How do I get title insurance to make sure the car is registered properly?

You can get that at any insurance company or any title and tag service.. this really isnt something you need to get or reccommended to buy.. waste of cash

Can you buy extended warranty on a salvaged vehicle?

Penn warranty company.

Should you buy Mortgage Title Insurance?

I think you are asking two different questions here. (1) Mortgage Insurance insures your life in order to pay off your mortgage if you die. (2) Title Insurance ensures that the company guarantees and will defend your title and deed to your house that it will stand a test in court if someone should ever challenge your ownership of the property. I do NOT recommend getting mortgage insurance. You could just as easily buy term life insurance for less money to do the same thing. I DO recommend getting title inusrance.

Do I need title insurance if I buy a home with cash and no mortgage?

Yes. You still need to protect your investment.

Do you need a car title to buy insurance?

Most insurance companies will not need a copy of the title. That's because we generally have our own means of verifying the title and ownership. If the company does request a copy of your title it is usually because when they went to verify the vehicle information with the state, it came back as a mismatch or a no hit.

Where can I buy a rocket ship?

You can't buy a real rocket ship, but you can make a model.

How do you start a title insurance company in Kansas?

You need a license to produce title insurance, of course. Next, you need to find a company that is willing to either provide you with title searches, or buy into the records of another company, which can be very expensive. You have to get with the Insurance Commissioner to file rates and of course, you will have to be approved to issue policies with an underwriter. These are the main issues.

What is the title insurance?

Title insurance is protection that ensures that you are the proper owner of the property and that if someone comes forward with a valid claim to a portion of your property, the title insurance company may have to pay that person the value of the claim. In buying real estate you have to make sure that the seller truly owns the property in full with no defects in title. The title insurance company reviews the land records to make sure of this. If the company states that the owner is the full owner, it backs its opinion with title insurance. Some title defects might not be covered though, but the lawyer helping the buyer will make sure that it is safe to buy the property.

How can you get a licence that will allow you to buy a salvaged car overseas with your company registration?

ask the DMV

How do you go about getting a title for a vehicle that was bought from a salvage yard that was going out of business if the salvage yard didn't have the title to the vehicle you bought?

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.

Can your son buy your homeowners insurance?

No, but if he owns a home he can buy his own insurance, or he can buy tenants insurance if he does not.

After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.

If you buy a motorcycle but can't get a title because it was traded for?

get a bonded title .. meaning you can buy a surety bond from your insurance company for the value of the bike ,then fill out the paper work from DOMV. they will help. Done it myself a couple of times and it works great.