O/T Insuring a rebuilder truck

dugs_cj3a · #1 02-09-2007, 07:50 PM

Guy I work with rebuilds totaled vehicles, he does exceptional work...just as good or better than factory. He has a 03 2500HD crew cab 4x4 6.0 allison 48,000 miles. Will be selling as soon as winter is over. Compared to a clean title it is a smokin deal. I'm not worried about resell price I drive trucks till their done, current truck has quarter million miles on it.

My question is will I have a problem getting insurance on a salvage title, will the insurance company cover it if I have a claim?

Saddle Tramp · #2 02-09-2007, 10:24 PM

"Smokn Deal" but if you ever crash it I believe it's your dime to fix. The insurance leaches only want to pay for a rig once not matter how well it was fixed.

Kriss

Jim_Lou · #3 02-10-2007, 08:22 AM

The one to talk to about it is your insurance agent. Also check with an insurance adjuster if you know one.

There's no earthly reason that an insurance company shouldn't pay up to the price you paid for it.

Or you can get a Louisiana bill of sale for it and then get a clean title in your state.

LEVE · #4 02-10-2007, 09:41 AM

Rebuild vehicles do carry a rebuild nomenclature on the title. So, that does reduce the market value. It also reduces value that the insurance company will put on the vehicle. It will not carry the full blue-book for a non-salvaged vehicle, as much as we would like it to... The insurance company will insure it, but at a lower value than the non-salvage vehicle... unless you can somehow convince them to do otherwise. That's a tall order. They're in the game to make money, not loose it. So, like Jim_Lou said, interview the insurance company before you buy the policy. May I suggest you read:

If you buy a car with a salvaged title will your insurance sky rocket?

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spook2 · #5 02-10-2007, 01:10 PM

[ QUOTE ]
The one to talk to about it is your insurance agent. Also check with an insurance adjuster if you know one.

There's no earthly reason that an insurance company shouldn't pay up to the price you paid for it.

Or you can get a Louisiana bill of sale for it and then get a clean title in your state.

[/ QUOTE ]

I think Georgia is another state that doesn't do salvage titles. You could buy a salvage vehicle here, get the title changed over to a Georgia regular title and then turn around and retitle it here in Ohio and no one would ever have a clue it had been a salvage vehicle. The Georgia end of things could all be done by mail. Don't ask me how I know, but the company I have now used to have a body shop on the side. Before my time though.

SilentBob2 · #6 02-10-2007, 05:01 PM

I done one a few years back and my insurrance company wanted to look it over before they would do it but they even let me put full coverage on it. Here in MO. they have to be inspected by the Highway Patrol before you can even get a salvage title on them.

Saddle Tramp · #7 02-11-2007, 01:28 AM

I worked with a guy who bought a $12,000 truck with a Washington State salvage title for $7,000. He was hunting coyotes on his dad’s ranch one night and managed to discharge the weapon inside the truck; shot a hole in the gas tank and the truck burned up on the spot. Insurance only gave him $4,000. That was about 1998 or 99.

Kriss