Salvage Title

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PostPosted: Wed Feb 20, 2008 1:51 am   Post subject: Salvage Title  

Is it hard to get insurance on a vehicle that has a salvage or Reconstructed title? What steps would one have to go through to prove that the vehicle was back in good running condition? Will going through a normal state inspection be enough or are there other steps that you have to take to get these titled vehicles insured?

erb1953
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PostPosted: Wed Feb 20, 2008 4:19 am   Post subject:   

It probably varies from insurance company to insurance company.



I think it can be rather difficult and I have heard some companies will not even write a policy on a salvage title. It could prove cost effective in the end for them if something isn't properly fixed such as the frame and it somehow causes an accident (god forbid). Google some things, you will be amazed what you can find!

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PostPosted: Wed Feb 20, 2008 4:37 am   Post subject:   

Apparently, the owner may not face a problem obtaining coverage for the reconstructed vehicle but as diem has mentioned, it may depend on the insurance company.


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JuliNewscott
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PostPosted: Wed Feb 20, 2008 5:11 am   Post subject:   

Quote:
Is it hard to get insurance on a vehicle that has a salvage or Reconstructed title?




Well, you may wish to ask your carrier about it. Whereas, some may insure a car with a salvage title without objection, the other may refuse to do so under the same conditions. Hence, if you are planning to purchase a reconstructed car clarify the insurance issue form your insurer.



However, obtaining the liability coverage on the salvaged car is a good idea. The car may not worth for the collision and comprehensive coverage, as the value will be too low. But the liability coverage will keep you covered for the third party liability issues.



Hope the inputs help. God bless!



Karla

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PostPosted: Wed Feb 20, 2008 6:33 am   Post subject:   

I've never heard of a carrier asking about this or checking (I'm not even sure how they would check, other then a claim check).

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PostPosted: Wed Feb 20, 2008 4:58 pm   Post subject: On Salvage Titles  

Is the title you possess an actual salvage title or is it a title that states that the vehicle was Prior Salvage. I can only tell you how salvage titles are handled in my state. If you have bought a salvage vehicle and you wish to transfer the title to a title that you can obtain a license, you may have to go through a highway patrol inspection to determine that the parts used to reconstruct your vehicle were not stolen. The inspection does not insure that the vehicle was repaired safely or in a manner that you may want to drive it. You should pay a reputable collision shop for an inspection to ease your fears if this is a reconstructed vehicle.



I just examined a 2004 jaguar that the rebuilder had epoxied two nuts that had been broken that hold a front strut to the unibody of a car. Had this broken loose, it would have caused a serious steering issue that could have placed the driver and oncoming traffic in harms way.



Many times people purchase salvage vehicles that have been repaired and do not realize the salvage title may be transferred and all you have is a piece of salvage titled in your name now. Call your state Department of Revenue or the department that issues titles and have them address any concerns over whether the title you have is one that a license can be issued for.



Given that the risk is of greater potential for liability problems, I can see why an insurer would not want to insure a salvage vehicle, especially from some of the repairs I have examined. Have the insurer put in writing why they refuse to insure your vehicle, so you can address your concerns from that point forward.



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PostPosted: Sun Apr 20, 2008 6:57 am   Post subject: insurance  

yes, you can get insurance on a salvage/reconstructed vehicle.


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tobeginwith
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PostPosted: Sun Aug 09, 2009 5:55 pm   Post subject: Missouri  

I recently considered buying a vehicle with a salvaged title here in Missouri. My insurance company told me this -



Having a Salvage Title with a good vehicle identification number(not altered) * will allow Liability coverage only. Which only covers the other vehicle involved in the accident.



In regards to a Claim, if the vehicle in question has a reconstructed title and deemed street worthy then in lieu of a loss, 80% of the claim will then be covered.



* I didn't think I should show the name of my company! Anyway, I hope this helps. It helped me make my decision!

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PostPosted: Mon Aug 10, 2009 12:00 pm   Post subject:   

Whether or not collision and comp will be allowed on a prior salvaged vehicle is strictly a company to company decision. I routinely ( Rolling Eyes ) handle the 'second' totals on cars the company I work for has insured....



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PostPosted: Mon Aug 10, 2009 12:29 pm   Post subject:   

I agree... if a carrier knows the vehicle has a salvage title they typically won't write comp/coll on it. Makes sense, as they would be charging comp/coll based on a non-salvage ACV but once they see it has a salvage title they are going to pay much less.

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PostPosted: Wed Aug 12, 2009 1:41 am   Post subject:   

My insurance company here in Missouri said they would gladly write a policy for liability coverage on a minivan with a salvaged title.



If I want to go through the process of getting it deemed "road-worthy", they would give me full coverage insurance. However, if I have to file a claim for damages, they told me up front that they will only pay approximately 80% of the damages.



Hope this helps!

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PostPosted: Wed Aug 12, 2009 3:10 am   Post subject:   

I have not had issues over the years getting full coverage on vehicles with titles that stated on them that they were prior salvage. Like Lori says, it is a company to company issue. I also live in Missouri, but I would not purchase a rebuilt vehicle without a thorough inspection by someone competent to ascertain potential problems with a rebuilder. Having seen a number of rebuilt vehicles in southwest Missouri, I can see why insurers would not want to insure some of these potential death traps. There was a reason, in most cases, why these cars were totaled to begin with and destined to be dismantled for scrap. You can polish a turd and make it look nice but it's still a turd.



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PostPosted: Wed Aug 12, 2009 3:40 am   Post subject:   

The salvaged van I'm looking at wasn't in a wreck. It was on a car lot for sale when a tornado came through. It blew out all the windows and some insullation. However, given it's age, just the cost of all new glass (with rear defrost too), seals, mirrors, etc. would cause the car to be considered a total loss. I feel completely safe in driving this vehicle, but I will have it looked over before I agree to buy it. I don't think it would be too hard to get a "reconstructed" title on it. However, just carrying liability coverage and leaving the title as salvaged would be enough for me.

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PostPosted: Wed Aug 12, 2009 11:07 am   Post subject:   

We've (in the biz) have all seen quality rebuilt totals, and more crap..

Quote:
You can polish a turd and make it look nice but it's still a turd
True story just happen two weeks ago to me...our insured (son or grandson driving) rearended another vehicle...never slowed down...upon arriving at the shop to look at the insured vehicle...(red shinny sporty number)...I had already done my homework and realized this very vehicle was totaled by the company I work for just one year prior...(it had a different third party owner on that wreck)...This accident was a frt end hit...the prior accident was a rearend hit...so of course a market survey was done, and that docked the ACV about 25%...well as I walked around the car, it became very clear that it was a crap rebuild...so I get under the car, (in the back) and absolutely couldn't believe what I saw! First of all there was still water marker marks on the rear crossmember, both lower control arms indicating damage from the prior (totaling) wreck, that the adjuster had marked! You could clearly even read the word ''twisted'' on the rear cross member!...I could look up and see that the rear body panel wasn't replaced, nor the rt rail, (as written to do), shoot the rebuilder didn't even paint them, but tugged and pulled, sprayed foam house insulation in the wholes he created, and slapped a poorly painted (although shinny) bumper cover over it...it was horrible! When I pulled the carpet in the trunk floor up, the entire right side of the floor (inside the trunk) was about three inches of bondo...which glued the carpet to it..under the car? The floor had about ten tears..I could go on and on about all the problems with this vehicle..someone with one year in either industry would've caught this..apparently the owners didn't consider having someone, anyone with a brain and a set of eyes look at it....Our insured's response when told about this ? (because of course it totaled again!)..."You're nuts! You don't know what you're talking about this car was perfect!" yeah, well you're welcome lady! You ought to be damn glad your brat rearended someone instead of them rearending him...because if this car had been hit in the rear, people inside it WOULD have been hurt...Rolling Eyes People hear what they want to hear, she knew it was a prior sal. vehicle it was a 12k vehicle with over 10k written on it...but she (apparently) was just happy to get such a great deal on it so her brat of a kid would shut up about getting a new car I guess... Rolling Eyes


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PostPosted: Wed Aug 12, 2009 12:22 pm   Post subject:   

Wow. Thats quite a story. I wonder all the time why people are so irresponsible especially when it comes to matters that directly affect them. If it were my vehicle I would have looked that baby over ten times! The only thing that comes to mind is "you get what you ask for".

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