WHAT ARE INSURANCE SALVAGE VEHICLES?

They are insured vehicles that have sustained readily repairable damage from collision, vandalism or 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.  We provide immediate access to more than 15,000 salvage vehicles each week from over 400 locations throughout the USA, Canada and Europe.

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, etc.

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. 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 vehicles that come direct from one of the many insurance salvage facilities nationwide

 

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