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 make up for some of the loss or they can let the insured keep it and deduct the value from the claim settlement. I am an insurance agent but not a claims adjuster.
Your questions is indeed unclear but I am assuming your car got totaled and they paid you less, as though it was a totaled vehicle to start with. They might know something you don't. If you purchased the car in the last 18 months from a dealer or person who gave you a clean title, the car may have in fact already been totaled but they decided to not file a claim and instead fixed it themselves at a cheaper cost and passed the car (and clean title) on to you. Meanwhile, the insurance company might have totaled the car and reported it as such. Or, the car was totaled in another state, moved to your state (a process called titled washing) and got a clean title for the short term, long enough to resell the car with a "clean title" even though it was totaled. When you renew your registration the title will come up salvage. Did you run a Carfax on this car prior to purchase?
Freeway insurance
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.
In Texas you do.
This may depend on the insurance company. Some insurers writes off a car when the damage estimate is 2/3 the value of the car. The reaso they do this is that the actual repair costs usually are higher then the first estimate.ANSWERActually, it is often a question of state law. Many states require that an insurance company declare a vehicle to be a total loss when the cost of repair exceeds a given percentage of the actual cash value of the car. The actual cash value is approximately the market value of a car of like, kind and quality as the subject vehicle, immediately before the collision. The reason for this is primarily the fact that the damaged vehicle is probably no longer safe to drive.In return for paying the "total loss" value of the car, the insurer gets to keep the salvage, and thereafter usually sells it to recoup some of its payment. In other cases, the insured opts to keep the salvage, perhaps for parts, or perhaps to rebuild the car. In that event, the insurer deducts from the payment to the insured the anticipated salvage value.If the car is rebuilt, it has to be retitled, this time with a "salvage title". This protects any later buyer by notifying him/her that the vehicle was at one time in a serious collision.
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
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.
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.
If the car is still going to be driven, then yes it does need insurance.
You only need insurance if you are going to tag it and drive it. If it is just for parts or scrap, you don't need insurance.
Yes, of course you do! :)
most insurance companies will insure a vehicle with a salvage title. As long as it is state certified.
Generally, salvage right belong to the owner of the property, Once you have been compensated for the loss, the property now belongs to the insurer, so they would have the salvage rights to it.