A car may get damaged due to natural disasters or accidents, but it does not mean it is the end of the road. You always have the option to get your car repaired and get a clean chit, allowing your vehicle to hit the road again. However, it is vital that before getting a salvage-titled car fixed and ready to use, you must know can you get insurance on a salvage title or not?
Buying insurance for salvage or, a rebuilt car is not as easy as it is for any other regular car. Therefore, it is crucial to go through huge research work on the owner’s part to understand the process of a vehicle from salvage to rebuild and also about insurance policies for such cars.
Here we have discussed salvage vehicles and the insurance involved in them. The guidance on getting insurance for a salvage vehicle is also provided below for your help.
What is the Meaning of Savage-titled Car?
When the cars go through immense damage, investment in such vehicles is not worthy enough; such cars are called Savage-titled cars. The insurance company may term them as a “total loss” regarding investment in those cars. Those cars not fit to travel on roads freely need a hefty amount of money to become fit and legally hit the road.
Can you Get Insurance for Salvage-titled Cars?
The good thing is you can legally buy or sell your salvage titled vehicles. Even driving your car to and fro from one inspection site to another is legal. But you can not drive your vehicle freely on the road; this is illegal. Unfortunately, there is a significantly quite less number of insurance companies that provide insurance for salvage titled vehicles. So you will never get full coverage for your salvage vehicles even if they do.
How do we Get Insurance for Salvage-titled Cars?
It is nearly impossible to get insurance for a salvage-titled car. When an insurance company terms a vehicle as non-repairable, then the only option left for the vehicle is restoration. When the vehicle passes the state-required inspection, it can be insured and is termed as rebuild salvage.
There are insurance options for rebuilding the cars, but some companies even refuse to cover salvage or rebuilt cars. Your insurance company may not give you full coverage for your vehicle, but a collision and comprehensive coverage is always possible. You may also get a liability over coverage for your salvage vehicle as well.
How to Get Insurance for Salvage Cars
It is pretty challenging for a salvage-titled car to get insurance. It is time-consuming and includes a lengthy process. However, below we have curated steps that would guide your salvage title cars to get insurance.
# Get a Rebuilt Title for your Car
You can always get insurance for your vehicle only when it has a rebuilt title. This helps you get insurance for your salvaged car. However, if the damage to the vehicle is extensive, the insurance company may declare your company non-repairable.
# Get a Mechanic’s Statement
Before applying for salvage-titled car insurance, you need a certified mechanic’s statement. This process would give you added satisfaction in getting any minor or unaddressed issue solved before the restoration process and even help you in getting better insurance coverage.
# Know your Options for Coverage
Unfortunately, a car with a salvage title does not have many insurance options. So always have the knowledge that the insurance company you are dealing with must treat salvage title vehicles. The insurance company may refuse or, in worst cases, charge an outrageous premium on your car.
# Check with more than One Insurance Company
This point is crucial as you should have a word with more than one insurance company to ensure the best price and policies for your vehicle. So always compare the clauses and the price with more than two-three companies and get the best quote for your salvage vehicle.
Is Insurance for a Savage-title Car High?
Well, the answer is Yes. You need to find liability coverage for any salvage title. But every insurance does not provide comprehension or collision for salvage titled vehicles. Therefore, some prerequisites are mandatory to fill in.
All the requirements for coverage are different for each state, and anyone who needs the coverage must go through those processes. The insurance companies giving you coverage would leave you with fewer options and even charge as high as 20% more on your premium. So it is advisable to compare prices with other insurance companies and settle for the best.
Getting insurance for salvage title cars is not easy, but it is not like you will never get it. You may have to pay much more than other regular insurances. You have to fulfill the requisitions to get the insurance and even go through a process to pass the requisitions of the insurance company to get the insurance for your salvage-titled vehicles.
Whatever you choose, you have you go for insurance; otherwise, you would be left with an uninsured vehicle. So it is better to get your savage-title vehicle insured.