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MORE INFORMATION ABOUT SALVAGE CARS, TRUCKS, MOTORCYCLES AND BOATS FOR SALE.
WHAT ARE INSURANCE SALVAGE VEHICLES? They are insured vehicles that some were stolen and then recovered by the insurance company, or sustained repairable damage from collision, vandalism, storms or street flooding. The vehicle owner receives a cash settlement as compensation for damages or loss. The vehicle then becomes property of the insurance company and is resold at a deeply discounted price. The 32 major insurance companies sell over 15,000 salvage vehicles each week.
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 so your insurance company then pays you a cash 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 some parts are missing. The car is no longer yours, it now belongs to your insurance company and becomes one of the more than 15,000 vehicles sold each week by a major insurance company.
FLOOD AND WATER DAMAGED VEHICLES: These are vehicles having been exposed to 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.
COLLISION DAMAGED VEHICLES: When a vehicle comes into accidental contact with another vehicle or object resulting in physical damage to the vehicle.
CLICK HERE to choose from more than 15,000 insurance salvage vehicles each week - inventory changes daily.
FERRARI EXAMPLE see photos below - 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 often decide not to repair a vehicle. One of our customers recently purchased a low mileage 1997 Ferrari GTS from an insurance inventory facilitiy in Atlanta, Georgia, USA that had sustained easily repairable front end damage. However the front bumper and fenders needed to repair the car were on back-order from the Ferrari factory in Italy for approximately 10 months. During those 10 months this Ferrari would have been sitting idle in a body shop racking up a storage bill of $30 per day in addition to a $42 per day rental car bill for Ferrari owner.
The insurance company simply decided to pay the Ferrari owner the replacement cost of the car and avoid a long and costly wait for parts. And once an insurance company commits to repairing a vehicle they are at the mercy of whatever unforeseen issues 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 cars, trucks, motorcycles, boats that come direct from insurance settlements at typically 1/2 to 1/3 or their Blue Book value.
1997 FERRARI 355 GTS - Insurance company decided to sell it in as is condition instead of repairing it for the owner.
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