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THEFT RECOVERED VEHICLES
For example, you park your
insured vehicle in the airport parking garage as
you depart and then return days later
to find it gone. The police can't find it
and your insurance company then pays you a
settlement equal to the car's value.
However, a few months later the car is found, it
may be fully intact or may have some damage or
missing parts. The car is no longer yours,
it now belongs to your insurance company and is
sold at an insurance salvage facility.
FLOOD CARS
These are
vehicles having been in various depths and
duration of water from street flooding that
occurs during extended and excessive periods of
rainfall.
VANDALIZED AND STORM DAMAGED VEHICLES
A vandalized vehicle has sustained various
degrees of destruction at the hands of a vandal.
It can include having parts stolen or damaged.
Storm damage can occur in the form of hail,
fallen tree limbs, airborne debris and water
damage.
THEFT RECOVERED VEHICLES
People often ask us, "why doesn't the
insurance company just pay to have these
vehicles repaired for their customers".
Here's an example why insurance companies
sometimes decide not to repair a vehicle;
we recently bought a 1997 Ferrari 355 GTS
from an insurance facility in Atlanta, Georgia
that had sustained easily repairable front end
damage. However the front bumper and
fenders needed to repair the car were on
back-order from Italy for approximately 10
months. During those 10 months this Ferrari
would have been sitting in a body shop racking
up a storage bill of $30 per day in
addition to a $42 per day rental car bill.
The insurance company decided to pay the Ferrari
owner the replacement cost of the car and avoid
the long and costly wait for parts.
SEE THIS FERRARI EXAMPLE.
Plus
once an insurance company commits to repairing a
vehicle they are at the mercy of whatever
unknowns may pop up during the repair process in
both cost and time. They frequently find
it simpler and much more cost effective to pay
the owner a settlement and to then sell the car
in as is condition rather than to repair it.
Our service enables you to purchase these
vehicle that come direct from one of the many
insurance salvage facilities nationwide.
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