Whats the deal with insuring a salvage car?
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Eternal_Reign
- Posts: 29
- Joined: Fri Dec 13, 2002 5:29 pm
Whats the deal with insuring a salvage car?
Is it a higher premium for insuring a car with a salvage title? What other problems could one come across with trying to get a salvage title car on the road?
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AZhitman
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Most companies will NOT insure a car with a salvage title. Those that will are NOT gonna give you comprehensive or collision coverage.
The idea here is that for a car to have a salvage title, it has already been (at some point) written off as a toal loss by another insurance company.
If you have a car with a salvage title, don't dump a lot of $$$ into it unless you can deal with losing it ALL in one accident. Big gamble.
Also, I have seen cases (rare, but you asked) where the other party successfully sued the driver of the salvage-titled car, claiming it was not "roadworthy" and contributed to the cause of the accident.
Finally, some medical insurance benefits MAY be denied (rare, but you asked) if you are injured in a car with a salvage title - The frame had been compromised at some point and it is thereby not sufficient to protect all occupants as the manufacturer intended.
The idea here is that for a car to have a salvage title, it has already been (at some point) written off as a toal loss by another insurance company.
If you have a car with a salvage title, don't dump a lot of $$$ into it unless you can deal with losing it ALL in one accident. Big gamble.
Also, I have seen cases (rare, but you asked) where the other party successfully sued the driver of the salvage-titled car, claiming it was not "roadworthy" and contributed to the cause of the accident.
Finally, some medical insurance benefits MAY be denied (rare, but you asked) if you are injured in a car with a salvage title - The frame had been compromised at some point and it is thereby not sufficient to protect all occupants as the manufacturer intended.
It will depend on your state laws and (more likely) the insurance company's policy, as Hitman said. I've inquired before, and I know that many companies locally wouldn't insure a salavaged title vehicle (I wouldn't either, again same reasons as Hitman's), but I did find at least one (Mercury) that would, and with no difference in coverage or rates, according to the broker I spoke to.