If you buy a car with a salvaged title will your insurance sky rocket?

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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
  • 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 car.you 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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What argument can be used when an insurance co claims a totaled car is salvage and deducts from the payment but the title doesn't say it is salvage?

Answer . Your question is unclear. Did the insurance company declaire the car that was insured was a total loss. After that they would pay you for the entire value of the vehicle and keep the car since they paid you for it. The insurance company can then sell the damaged vehicle at an auction and ( Full Answer )

In California will any insurance co insure a car with a salvage title?

Answer . Yes, but according to my insurance company, Nationwide, they won't (and the rep I talked to said it was industry practice) cover comprehensive or collision- so you'll be covered for any liability to inflict on other people/property, but any damage to the car itself, or theft, won't be co ( Full Answer )

Can you insure a vehicle with a salvaged title?

Answer . 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. ( Full Answer )

Should you buy a car with a salvaged title?

It is a good idea for some people if you can do your own work and know what was originally wrong with the vehicle. If you will need to take it to a shop for everything that goes wrong, a salvage titled vehicle will be very expensive to operate. Recognize that many lending institutions will not loan ( Full Answer )

What will your insurance company cover on your salvage title car if in an accident?

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 s ( Full Answer )

Does a salvaged title indicate that the car was stolen?

Answer . It means that the car has been wrecked and rebuilt.. The following eleven states also use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.. So, in these states a "Salvaged" Title could mean it was wrecked and totalled or it could also mean tha ( Full Answer )

Should you buy a car with a salvage title?

Answer . No, No, No, a thousand times NO!!! You are just asking problems.. I have purchased salvage cars twice with fine results. It all boils down to why it was declared a total loss by the insurance company. Older cars are easily totaled, even a minor fender bender can turn an older car into a ( Full Answer )

Should you buy a car with a salvaged title that is now repaired?

Answer . It depends on: who rebuilt/repaired the vehicle, what was wrong with it that required it to be rebuilt, whether it's valuable enough to overlook some potential problems and whether you'll be able to cover the entire cost since banks don't like to loan on a slavaged title.\n. \nSalvaged ( Full Answer )

When a car with only liability insurance and a salvaged title is totaled a second time what is the responsibility of the at faults insurance company as far as replacement?

Answer . \nThe title is irrelevant, they need to put you in equal transportation during the claims process and issue you a check based on the cars book value. If they give you less then you feel is reasonable you do have the ability to negotiate. You better have logical well thought out facts ( Full Answer )

Can you get insurance on a car with a salvage title in Georgia?

Answer . Liability, certainly. Comprehensive and Collision might not be worth what you would need to pay since they would only give you a fraction of the value of the vehicle if you were in another collision and the vehicle were to be written off again.

Should you buy a motorcycle with a salvage title?

My Opinion, NO! I would not touch it. It has been totaled and as such must have had extensive damage. If repaired correctly it may be safe. But if repaired incorrectly, it may be an accident waiting to happen. I might buy a salvaged car if I knew for sure what damage it had and who & how it was rep ( Full Answer )

Can a salvaged title car be financed?

Answer . no. . I have a car that is financed through a bank. I recently foundout that it has a salvaged title and I am having problems withgetting full coverage insurance. the bank along with me didn't knowit was a salvaged title at the time so what can I do.

Do insurance rates go up if you buy a car with salvage title?

no, it should go down ANSWER No, it shouldn't go up or down (check with your insurance agent) but since it's worth up to 40% less than a comparable clean titled car you won't get the full price of the car if you total it again! Depending on its age and your insurance rates it might be best to ( Full Answer )

Can salvage title be insured?

Answer . Most insurers will not provide coverage at all for a salvaged vehicle and consider them unsafe. Some will provide Liability coverage but not full coverage. Others will provide full coverge But in the event of Loss, especially a Total Loss, any pay out will be much lower due to the alread ( Full Answer )

How can you get a title for a salvage car in al?

If you need to apply for a salvaged title, complete the form and return it to the:. Alabama Department of Revenue . Motor Vehicle Division ― Title Section . P.O. Box 327670 . Montgomery, AL 36132-7670 . www.dmv.org DMV.ORG - The Unofficial Guide to the DMV

Where can you buy a salvaged car?

Copart Auto auction is one of the largest salvage vehicles auctions. They have yards all over the USA. You can buy there almost every vehicle (salvage cars, motorcycles, boats, RVs, trucks). The auction is online so you don't even need to go out. You can register with Copart here http://www.easyexp ( Full Answer )

Can you trade in a salvage title car?

Yes, but you won't get much for it - even if it's been restored to look like new you'll still only get around 40-50% of the value of a comparable car with a clean title. Probably better to sell it privately.

What happens if you buy a car unaware of salvage title?

what happens if you buy a car unaware of salvage title?. well, if it was from a dealer you have recourse. if it's from a private seller, too bad...UNLESS they sold you the car with a clean title when they knew it was salvage. did you look at the title before you bought the car? if it was clearly br ( Full Answer )

What does a salvage title do to the cost a car?

If it's not driveable it's worth 20-25% of the value of a comparable clean titled car. If it's reconstructed and roadworthy it's worth 60% of the value of a comparable clean titled car.

Why is buying a salvage title car bad?

It's not necessarily bad. I have purchased salvage cars twice with fine results. It all boils down to why it was declared a total loss by the insurance company. Older cars are easily totaled, even a minor fender bender can turn an older car into a salvage vehicle since older cars are worth less and ( Full Answer )

Can i get insurance and plates with a salvage title?

Yes. Getting insurance and plates with a salvaged title car should not be a problem. It shouldn't affect any of that... the only thing you need to worry about is if the place you got the car from properly fixed all of the problems on the vehicle.

Can you insure a vehicle with a salvage title?

Yes and no. Insurance companies, as a general rule, will not provide full coverage insurance for vehicles with salvage titles they will however provide liability only insurance.

Can you get collision insurance on a auto with a salvage title?

Doubtful.. Comprehensive Collision auto insurance is based on vehicle value which can be greatly affected by having a salvage title. The amount that the vehicle value can vary by having such title issues varies by vehicle. If you could find an insurance company to write such a policy it would most l ( Full Answer )

If a salvage yard owns a car is the title considered salvage?

Depends on the existing title, if the salvage company owns the vehicle and it does not have a salvage title then they would be just another owner like anyone else and this vehicle would have a clean title assuming that there are no lean holders. On the other hand if the vehicle in question has alrea ( Full Answer )

What is a salvage car title in California?

it means that at some point the vehicle was either wrecked or in aflood if its in cali then probaby a wreck the insurance companyseither pay to have it fixed or if the damages are to much they mayscrap and pay for a replacment vehicle. then the vehicle is eithersold @ an auto auction or is smashed t ( Full Answer )

Can you insure a salvage title car?

Some companies will let you buy liability insurance. almost none will offer full coverage. A salvage title means the car has already been totalled before.

Does state farm insure salvage titles?

Yes they do as long as the car is in as good working condition as a used vehicle. I currently own a salvage title vehicle that was considered salvage through state farm. It only suffered flood damage. I purchased the car and had it fix and now they insure my car. They even let me get full coverage!

Are cars with a salvaged title unsafe?

The salvage title is used to title a vehicle that has been paid out by an insurance company. This may be because professional repairs exceed 75% of the value of the car or may be because the car was stolen and not returned within the time required by law such that the insurance company must pay out ( Full Answer )

What does rebuilt salvage title do to value of car?

A rebuilt salvage title is issued when a vehicle has been declared a total loss. When that happens, the original title is "retired", and the salvage may be sold--often by an insurance company that paid the owner and acquired the salvage. As a way of recovering some of what it paid, the salvage will ( Full Answer )

Can you insure and tag a salvaged car?

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.

Can you put full coverage insurance on a car with a salvage title car in Minnesota?

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 ( Full Answer )

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 ( Full Answer )

What reasons cause a car to have a salvage title?

A salvage title can be caused by a car having been damaged in a previous wreck also if a car has been previously stolen and the owner was already given a replacement before the car was found then the stolen car may receive a salvage title