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WHAT ARE INSURANCE SALVAGE VEHICLES ?
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They are insured
vehicles that have sustained readily repairable
damage from collision, vandalism, natural disaster
and some were stolen and then recovered. The
insured owners receive cash settlements as
compensation for damages or loss and the vehicle
becomes property of an insurance company. It is then
resold at one of the many insurance salvage
facilities across the nation at a deeply discounted
price, usually 1/2 to 1/3 of Blue Book values.
More than 15,000 salvage vehicles are sold every
week from insurance salvage facilities nationwide,
there are usually several locations in each state.
Register now to access more than 15,000 salvage
vehicles each week with an inventory of at least
5,000 motorcycles each and every week. These
vehicles are typically sold for 1/2 to 1/3 of their
Blue Book value. All vehicles are sold with
titles.
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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 vehicle's value.
But a few months later the vehicle is found, it may
be fully intact or may have some damage or missing
parts. However, it is no longer yours, it now
belongs to your insurance company and is sent to an
insurance salvage facility to be sold.
FLOOD
VEHICLES
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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