One Glitch - Insurance for Salvage Title? - Alfa Romeo Bulletin Board & Forums

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Old 02-25-2008, 10:43 AM
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One Glitch - Insurance for Salvage Title?

My current insurance company wont cover a car with a salvaged title.

Anyone know companies that will? Should I get classic insurance since the car is 25 years old now?

AAAAGGGHHH!

Jeff
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Old 02-25-2008, 10:47 AM
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where are you located? i.e. Washington state removed title brands after 21 years, some others after 15. I can't help you with the insurance company though.
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Old 02-25-2008, 10:51 AM
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Im in Denver - so far even Geico classic car insurance wont cover it. Geico regular would do liability only. This might kill the deal for me

Jeff
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Old 02-25-2008, 11:10 AM
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Anyone used hagerty for their classic alfa? Im on hold with them now to see if they can even underwrite it...
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Old 02-25-2008, 11:18 AM
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One Glitch -- Insurqnce for Salvage Title?

Quote:
Originally Posted by sgtpeper View Post
My current insurance company wont cover a car with a salvaged title.

Anyone know companies that will? Should I get classic insurance since the car is 25 years old now?

AAAAGGGHHH!

Jeff
Farmers Insurance covers my MB with a salvaged title and has covered our other cars with the same type of titles. Normally, the problem with a salvaged title is selling it, which wasn't important to Pat nor I.
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Old 02-25-2008, 11:21 AM
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Do you have full coverage on the car? That seems to be a problem...
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Old 02-25-2008, 11:51 AM
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Since when do Insurance companies care if the car has a Salvage Title or not?? And why do you have to tell them??

I used to have several cars with Salvage Titles and they NEVER asked me if the Title was Salvage or not...I had State Farm insurance for a Porsche 928 Salvage vehicle and a Fiero Salvage vehicle...Never a problem.
Now I carry Geico insurance and they can care less..

I think it's time for you to shop around for another Insurance Co.

VK

Last edited by goyal99; 02-25-2008 at 11:53 AM.
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Old 02-25-2008, 11:54 AM
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Well I figure when they get the VIN theyll see it has salvage title no?

Ive called quite a few and the most major companies will do is liability...

Hagerty may be able to insure it full with a state certification that its fully restored... $250 For the year for full coverage though with a 0 dollar deductible.

Jeff
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Old 02-25-2008, 12:00 PM
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I have a half dozen cars insurred with Hagerty. I can't say that I've had to file a claim but at least they've been decent to work with up to this point.
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Old 02-25-2008, 12:01 PM
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One Glitch -- Insurance for Salvage Title?

Quote:
Originally Posted by sgtpeper View Post
Do you have full coverage on the car? That seems to be a problem...
I carry over the required California minimum of 10/15/30 or whatever it is; I carry 100/125/150, I believe with a $500 deductible. I do not carry collision, but do carry glass and use Triple A for towing because Farmer's only covers towing within a certain year range for new cars. Is that what you were asking?

If you want full replacement value, you will have to have the car appraised and buy insurance on that basis. I'm mainly protecting myself and anyone that I hit or should hit me, recognizing that I would have to fight not to have the car totaled at current damage repair rates, depending on the damage. But I've been there before with several cars.
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Old 02-25-2008, 12:12 PM
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Quote:
Originally Posted by sgtpeper View Post
Hagerty may be able to insure it full with a state certification that its fully restored... $250 For the year for full coverage though with a 0 dollar deductible.

Jeff
That is truly what a serious classic car insurance company will focus on: the condition of the car, its value, and that the owner is really treating and using his/her car as a "classic". There are not so common and desirable vehicles that have salvage titles, and while this makes them less valuable than other similar cars, it does not negate their worth.

There are several threads where BB members have related their positive experiences with reputable classic car insurers.

Best regards,
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Old 02-25-2008, 06:17 PM
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Re-post of earlier advice.

If the car has a 'Salvage' or Salvage Rebuilt" title then it has been damaged in the past and the insurance company has paid off on the car and sold it for salvage. Could also apply to a recovered stolen car. This does not mean that the car was necessarily severly damaged, but insurance companies have funny ideas about economic totals. Since there is no dealer supply of repair parts to draw from, the insurance companies would have to rely on a hunt and peck search for usable used parts. This kind of love effort is beyond most insurance companies, so they opt for the totaled approach. But once a car has a salvage rebuilt title it cannot elasily be washed back to an original clean title. You can buy good Alfas with salvage rebuilt titles, but they usually don't bring as high a price as a car with the clean original title, now when you buy, or later if you sell.

All this being said, you can also buy cars with clean titles which have been hit and repaired to varing degrees but which repairs escaped the data bases (Experian - Carfax).

A good non rust car with a clean title and verified correct milage history is always preferred. A stack of old mantenance receipts is a real plus.
Good Luck, Robert - 88 Spider Veloce in Memphis, TN

BTW, my insurance company refused at first to insure my Alfa, until I told them I did not want collision, just liability and comprehensive (glass breakage). Then it was all smiles and welcome aboard. For the reason they will not write collision, see paragraph #1above. This is Nationwide, FYI. I am sure you can always find someone to write collision on an Alfa, but to me it was not worth it and I will just take my chances on having no collision coverage.

Listen to what ever all your replies say. They will mostly be right on target, based on my previous experience with the BB users. Very knowledgable group in my opinion.
Robert
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Old 02-25-2008, 06:43 PM
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One Glitch - Insurance for Salvage Title?

Quote:
Originally Posted by sgtpeper View Post
Well I figure when they get the VIN theyll see it has salvage title no?Jeff
You are correct about what the insurance company knows with the VIN number as well as the state in my case. California passed a new law or amended one last year that now requires all insurance companies to report electronically to the state if car insurance premiums have not been paid on time and they can and will under certain circumstances revoke your registration if the insurance lapses. Technically, when the payment posts the insurance company should electronically cancel the previous notice to the state, it doesn't always happen, depending on how accurately your insurance company reports. You can also get caught up in the cancellation notice if you change insurance companies and the reporting isn't done properly or in a timely manner.

They are also hooked into the FTB (Franchise Tax Board)'s system and if you fail to non-op a car, the FTB comes after you for registration and penalties.

On the positive side, you no longer have to mail in proof of insurance or take it with you to the DMV or Triple A to renew your tags every year as long as there's no notice to do so on your vehicle registration renewal.

Just more and more "big brother" watching over you; isn't it grand?
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Last edited by Pat Braden; 02-25-2008 at 06:45 PM.
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Old 02-26-2008, 05:20 AM
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I've had Safeco for years. Never had a problem with a claim. On the Alfa all they asked is the value. We agreed and it was done. Though it is classic car coverage there is no limit on miles per year. I might add that though some of my past cars had a history of severe damage none was titled as salvage.
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Old 02-26-2008, 11:55 AM
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Well Farmers has refused to insure the car as well now - they will only offer liability - not full coverage...

Hagerty still says theyll take a look into it....
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