Insurance and salvage title
 

Insurance and salvage title

Started by skihor, April 24, 2015, 01:21:08 PM

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skihor

April 24, 2015, 01:21:08 PM
Our Mci 5 had the title branded salvage, (total loss from hail), 5 years ago. It really wasn't that bad but the " industry standard" method of repair is to replace the full panel even if it has 1 hail dent. I secured new insurance through GMAC now called National General. I "repaired" the damage myself using an oldschool method. Last summer we got hit by hail again. I won't bore you all with the details but I have to sue them to get fair compension for the damage. Renewal is coming due and they won't even give me liability. Now to my point...
I have called co. after co. and been turned down over and over. IT IS ONLY SOME HAIL DAMAGE.
Today I did secure Full timers liability insurance. No comp, No collision, No contents. That's it, end of story, you CAN'T get anything more ! The good part is... it's only $136 for 1 year. 
My point in all this is don't buy a bus, (or any vehicle), if it has a salvage title.
Don & Sheila

Jeremy

#1
April 24, 2015, 02:42:10 PM
In the UK there's a procedure you go through where the vehicle gets inspected after repair and the salvage time is removed and it's original status returned. I went through it last year with an accident damaged car which I bought and repaired - all it needed was a new fender, paint and a couple of trim pieces, but it had been deemed 'beyond economical repair" by the insurance company because it's an all-aluminium Jaguar and new parts are hellishly expensive. It's my daily driver now.

Jeremy
A shameless plug for my business - visit www.magazineexchange.co.uk for back issue magazines - thousands of titles covering cars, motorbikes, aircraft, railways, boats, modelling etc. You'll find lots of interest, although not much covering American buses sadly.

luvrbus

#2
April 24, 2015, 02:55:01 PM
A vehicle here don't need to have body damage to have a salvage title I bought a Jeep from a dealer in Idaho it had the salvage title because Jeep replaced it under the lemon law in that state. 
The only thing wrong with it was the oil pressure sender you could pay 60 bucks for a new one and it would go bad in a few weeks so I just drove it but I guess the PO wanted a oil gauge that worked all the time
Life is short drink the good wine first

niles500

#3
April 25, 2015, 12:43:02 AM
Salvage, re-buildable, certificate of destruction - are all title definitions - any bona fide purchaser should make themselves aware of the ramifications - caveat emptor - HTH
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- Niles
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