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Is there a formula the insurance companies use to determine salvage value of your car?
Wiki User
∙ 10y ago
Different insurance companies use different figures to determine whether or not a vehicle is a total loss or not. Usually it is between 70 to 80 percent of the value of the vehicle. There is usually a special total loss adjuster who handles these cases once the normal property damage adjuster has determined it to be a total loss.
Within all insurance policies it spells out that your insurance company has the option of paying to repair your vehicle, replace the vehicle, or pay you the actual cash value of the vehicle. All of these cases will be less your deductible of course. If they pay you the full actual cash value of the vehicle then of course the vehicle belongs to them. Sometimes you can buy it back from them if you like. I always recommend that people do not buy the car back because of the issues involved with this. In order to be able to get a tag for it again you will have to repair it completely and it will have to be inspected by the state. After this you will receive a salvage title that shows the new owner and all future owners that it was a total loss at one time. This makes it worth far less than any others if you want to sell it in the future.
Wiki User
∙ 10y ago
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How can you locate RVs totaled by insurance companies to purchase for salvage or retitle as a salvage vehicle?
CONTACT AN CLAIMS AGENT FROM LOCAL INSURANCE COMPANIES, THEY WILL TELL YOU WHICH WRECKER NOW HOLDS TITLE OF THE SALVAGE VEHICLE(S). THEN YOU CAN CALL THE WRECKER DIRECTLY
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.
What insurance companies insure vehicles whit a salvage title?
The following insurance companies are known to insure vehicles with a salvage title: Nationwide Esurance Progressive Allstate State Farm The General GeicoHowever you should always double-check with your insurance provider that they are willing to insure a vehicle with a salvage title before making a purchase.
Can you put insurance on a salvaged title?
most insurance companies will insure a vehicle with a salvage title. As long as it is state certified.
What states can you get full coverage insurance on cars with salvage titles and what companies will insure these cars?
Ohio Michigan
How do you find out why a campers title is salvage?
Answer: Salvage titles come from the insurance companies. Once an insurance company "totals" a vehicle, it becomes "salvaged". Take the ID number to your insurance company and have them run it to see if it is "insurable", best & quickest way and its free.
Which company does motorcycle salvage?
Companies that do Motorcycle salvage are known as 'Salvage' companies. They will salvage parts to sell and /or rebuild cycles for customers for profit.
Why hartforddont want getsavlagevaulr fromsavlageyard?
I can't determine if you are asking about Hartford City or the insurance company. Insurance company's want maximum return on salvage so it goes to the highest bidder rather than sold to a salvage yard for what they pay.
What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the owner. Others sell the totaled car to a salvage yard.
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.
What insurance company will give insurance on a salvage title?
Freeway insurance
Can you finance a salvage car?
In general, individuals are not allowed to finance salvage cars; however, there are financing companies that provide funding for companies who process salvage cars.
