How Much Does A Salvaged Title Make Your Auto Insurance Go Up?
I am an 18-year-old first time driver that just got his license a week ago. I got a car that’s a “salvaged title” and a theft recovery. I got a quote on the car before I found out those things and the quote was $135/month. But I was wondering, how much does the salvaged title make it go up? Can anyone give an approximate answer? And what insurance company is the best for this? Thanks.
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February 8th, 2010 at 10:43 am
In my experience, not at all. You probably won’t be able to get comprehensive insurance. (I only carried liability, a couple notches above minimum, and uninsured motorist coverage.)
As an 18 year old driver, 135 a month isn’t bad, most places. It could be far, far worse.
There is no one best insurance company, really. Based on experience of me, my family, and my neighbors, I’d recommend against Geico.
I and my family have used Progressive for years upon years (and my mom had them through SEVEN incidents of people hitting her car while it was parked) and our experiences have been generally very good. Their rates are pretty good. You might find slightly cheaper, but they’re nothing to complain about.
You should go to an insurance broker, if you’re really REALLY concerned about price. They should have access to all kinds of policies from famous companies and companies you’ve never heard of.
edit: If you lie to the insurance company, and then get in an accident, you risk having your coverage denied. Do not lie to the insurance company.
February 8th, 2010 at 3:03 pm
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February 8th, 2010 at 3:47 pm
Being a young driver will make your insurance expensive, regaurdless of what car you drive. As for the salvage title, depends on insurance company, where you live, and how many miles per you claim to drive. I would shop around with different national companies and see what they quote you. They will tell you how much extra you pay for the salvage title.
February 8th, 2010 at 4:14 pm
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February 8th, 2010 at 5:43 pm
It depends, some companies won’t even take it. Best to just not tell them. If they need to know, they’ll find out on their own. Hell, I even tell them I have ABS and airbags, which is BS.
I have yet to have a problem with them not knowing, even after my last accident.
February 8th, 2010 at 10:09 pm
I know that we do not charge anything extra for a salvage title, but we do pay out less in the case of an accident. That is the way our insurance company works in Utah and Cali.
February 8th, 2010 at 11:35 pm
It doesn’t go up at all – but MOST insurance companies flat out won’t insure a car with a salvage title. You’ll have to jump through hoops at your state DMV office to have the salvage title replaced with a regular title – which usually means inspections & fees. Salvage means, “not safe for road use”. So what insurance company would want to insure an accident waiting to happen?
NO ONE will give you collision or comprehensive with a salvage title.
February 9th, 2010 at 12:41 am
If the car is salvaged it shouldn’t affect your insurance (every state is different) it might affect how much the insurance company would pay out in case you were in a car accident & it was a total loss.
April 22nd, 2010 at 6:03 pm
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