1. What Does Insurance Cover?
Many car buyers think it is impossible for them to get full coverage on salvage vehicles, which is partly true as most insurers won’t offer collision insurance as the previous owner had already made a claim. However, some providers such as State Farm provide collision and comprehensive coverage for vehicles that have been declared a total loss by other insurers. You can also avail the services of providers that specialize in insuring salvage cars. Additionally, you can talk to your regular insurer (from whom you may have purchased different policies), and they may be inclined to offer a comprehensive coverage on your salvage car if you have a healthy payment history.
2. What are the Essentials Needed to Insure a Salvage car?
Providers insuring salvage cars would require owners to provide all relevant information that can affect the extent of coverage such as the damages incurred by the vehicle, the repair jobs undertaken, and parts replaced. To validate their claims owners need to attach before and after photographs of the vehicle, purchase vouchers for the parts replaced, and vehicle title information along with their application. Some insurers may also need an inspection certificate from the DMV (in accordance with the local regulations). Owners can also attach a certificate by a certified mechanic that furnishes information about the repair jobs.
3. What are the Rates for Salvage car Insurance?
Salvage cars are total loss vehicles (as defined by insurance companies). It is, therefore, not uncommon for insurers to quote a higher than usual premium rate; especially if they agree to offer comprehensive coverage. The best time for salvage car owners to shop around for insurance is after the DMV clears the vehicle for a new title, as this gives ample bargaining power to the owner.
Conclusion
Learning answers to the above questions certainly helps while shopping for salvage car insurance. It is also imperative for buyers to find an experienced auctioneer who follows transparent policies. To find one buyers can use specific location based keywords. For example, residents of Houston can use search terms such as Houston car auction, cheap cars Houston, Houston public car auction, and Houston car auction online, to refine their search results.