How much do insurance companies pay for a re-totaled salvage car?

Question

What if you have a Salvage title car, and you get in an accident with it and its not your fault, how much do insurance companies pay for the car?

It is a requirement in California to atleast have liability insurance.

Answer 1

If the company knows it has a salvage title, then you probably cannot get anything but liability on it. That would then mean your insurance company pays nothing as you don't carry comprehensive or collision. If you have an accident where someone else is at fault and they find out about the salvage title they will not pay ACV. ACV is the price that you could find a similar car in the market. You can't find a similar car when your car was already a total loss.

Answer 2

1

Answer 3

Auto insurance in most states pay ACV (Actual Cash Value) on a "total loss". Since salvage vehicles are always worth considerably less than their non-salvage counterparts, most companies will not insure them for physical damage coverage, and those that do will endorse the policy with an agreed "stated amount" endorsement.

However, since the other party is at fault, they are obligated to pay the fair market value of the vehicle. In most cases, you will be lucky to get 50% of the low Kelley Blue Book value.

Answer 4

I would think that an insurance co wouldn't give full coverage on a salvage.
If you were hit by someone not much $.
A salvage salvage, lose it, it's obviously has bad luck!

Answer 5

My guess is that prior to the deer hit your car had some hidden damage you didn't know about. In order for the damage from the deer hit to get fixed the body shop will need to be paid to get the unrelated prior damage repaired. Guess who's paying for that...you. Once you're done with the claim and your cars back on the road take comp & collision off your policy. Pocket that money and start saving for a new car and quit giving it to your insurance company.

Answer 6

Insurance companies seldom insure salvage title cars. They would likely pay nothing if they found out it had been totaled before.

Answer 7

Why in any sense of the word would you even think of buying insurance on a salvage car?
It wouldn't be worth one years premiums.

Answer 8

If the car is totaled (again) and it was not your fault, the at fault party's insurance will probably pay you something (basic transportation clause) but not much.

You might also get some cash to rent a car for a BRIEF period of time.

Answer 9

Generally speaking, the value of the vehicle just before the loss, adjusted to condition. If you had just bought new tires, and put in a new stereo for example, they would adjust up. They may cite the salvage title as a reason to adjust downward, although it should not be a factor.

Answer 10

Market value, i.e; what the buying public would pay for your car prior to the loss. Face it, a rebuilt total isn't worth very much no matter what condition it's in.