more. When you get this coverage, you’ll explain the improvements to your insurer by providing documentation, including receipts, photographs, and appraisals, which will illustrate your vehicle’s true worth as opposed to book value. If you do this, be sure you’ve got detailed photographs on hand and that your most recent appraisal is in a safe place. As far as your appraisals go, it’s important to keep those up-to-date as well to ensure you get the most money in case your car is damaged.
Salvaged Cars
First, what constitutes a “salvaged car?” It’s a car that’s been classified as a total loss. In some cases, insurance companies will label the car with a salvage title or certificate. If it gets a certificate, this means the car is undriveable and unsellable and can’t even be registered. However, salvaged cars can be rebuilt. If this happens, the car’s owner can request a new title, although this may take a fair amount of hoop-jumping to happen. If the owner is able to get a new title, it will make it clear that the car was salvaged. It’s not possible to put a market value on a salvaged vehicle because it’s hard to tell exactly how much damage the car has. This means most insurance companies won’t give you collision or comprehensive coverage. Some companies won’t cover salvaged vehicles at all. Others may offer a liability-only insurance policy and/or might exclude any damage caused by the original accident. It’s also possible that your insurance company won’t cover your car because they’ve already said it’s a total loss, but another company might be willing to offer you coverage.
Pro Tip: Salvaged Versus Unrepairable Cars
Salvaged cars are not the same as unrepairable cars. The latter cannot be fixed but can be sold for scrap or parts.
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