Salvage title Insurance

[FRS Justin]

Does anyone have experience dealing with salvage title insurance?
I have a 2013 FRS that was in a flood and totaled. I made all the repairs and want to insure it with full coverage but Geico only wants to insure it with liability. So if my car gets stolen or hit by a uninsured motorist I'm out...
Any thoughts, info, or help would be appreciated. Thanks

[dvasqu01]

Try rebuilding the tittle possibly ?


Yes I'll give you the rice noodle😘

[FRS Justin]

Originally Posted by dvasqu01

Try rebuilding the tittle possibly ?


Yes I'll give you the rice noodle😘

Texas doesn't allow for that once the ins pays out it gets a salvage title. What pisses me off is most of the time a salvage car isn't really salvage. I ended up replacing a gauge cluster, radio, BCM, ECM and door actuators. Maybe 1500 in parts then cleaned the interior and flushed the trans, engine, and diff. so another 500 bucks. That's far from the $18244 kbb shows the value at. But now it has a salvage title Oh did I Mention it has 11860 miles on the car one owner.

[dvasqu01]

Wtf geicos inspector was an asshole for that man so the car is good nothing wrong with it ?


Yes I'll give you the rice noodle😘

[Tcoat]

Originally Posted by FRS Justin

Texas doesn't allow for that once the ins pays out it gets a salvage title. What pisses me off is most of the time a salvage car isn't really salvage. I ended up replacing a gauge cluster, radio, BCM, ECM and door actuators. Maybe 1500 in parts then cleaned the interior and flushed the trans, engine, and diff. so another 500 bucks. That's far from the $18244 kbb shows the value at. But now it has a salvage title Oh did I Mention it has 11860 miles on the car one owner.

Please do not read as calling you out. No matter how I tried to word these comments they come across that way but I am not and just bring them up as discussion points!


Did you not check on what the salvage title would mean before you bought the car? You knew it was salvage so some calls before buying could have saved you some pain now.
What was it titled for salvage for if all you had to do was that little bit of work? Insurance companies are not know for their generosity in paying out as totaled if they don't have to.
Not that it really matters anyway as the simple fact of the situation is that it was a salvage title and came with all the implications of such. Whether you, I, or anybody don't feel it should have been really does not come into play. You must have paid salvage price for it so can't expect it to be considered as a regular used car just because it was easy to fix. Can't have it both ways.

[FRS Justin]

Originally Posted by Tcoat

Please do not read as calling you out. No matter how I tried to word these comments they come across that way but I am not and just bring them up as discussion points!


Did you not check on what the salvage title would mean before you bought the car? You knew it was salvage so some calls before buying could have saved you some pain now.
What was it titled for salvage for if all you had to do was that little bit of work? Insurance companies are not know for their generosity in paying out as totaled if they don't have to.
Not that it really matters anyway as the simple fact of the situation is that it was a salvage title and came with all the implications of such. Whether you, I, or anybody don't feel it should have been really does not come into play. You must have paid salvage price for it so can't expect it to be considered as a regular used car just because it was easy to fix. Can't have it both ways.

Point taken, and understood, I just want enough coverage to cover my investment
I originally bought it to flip for a profit, but then seeing just how little damage their actually was I decided to keep it. It was Flood salvage title.(fresh water) I just wanted full coverage so in case it got stolen or hit by a uninsured motorist I was covered. I would be happy with 75% of cash value minus the deductible. I still have the option of selling it and I'm not going to get hurt if I do that, but it's a shame considering how clean the car is. I was really looking forward to building it, maybe starting FT86PROJECT8S but I can't take the risk of putting that much money in something I can't insure.

[Tcoat]

Originally Posted by FRS Justin

Point taken, and understood, I just want enough coverage to cover my investment
I originally bought it to flip for a profit, but then seeing just how little damage their actually was I decided to keep it. It was Flood salvage title.(fresh water) I just wanted full coverage so in case it got stolen or hit by a uninsured motorist I was covered. I would be happy with 75% of cash value minus the deductible. I still have the option of selling it and I'm not going to get hurt if I do that, but it's a shame considering how clean the car is.

But if you sell it does it not still maintain the same salvage title? I would think that this would still keep the value down and the next buyer would face the same issue you are.

[FRS Justin]

Originally Posted by dvasqu01

Wtf geicos inspector was an asshole for that man so the car is good nothing wrong with it ?


Yes I'll give you the rice noodle😘

It's 100% now, the only reason I had to buy a combination meter is because the car had no master key so I couldn't shut off the alarm to start it. So I decided to go ahead and spend the money to make everything new again. The water only reached the bottom of the console. A lady drove under a underpass that was flooded and stalled the car.....smh Got out and left the door open.....again smh

[FRS Justin]

Originally Posted by Tcoat

But if you sell it does it not still maintain the same salvage title? I would think that this would still keep the value down and the next buyer would face the same issue you are.

Yes this is true the value would be down and the new owner has to accept liability ins. Maybe someone would buy it and give it to their kid and save 14 or 15k from a new one.


I would totally disclose everything to the next buyer, and let them make a decision. I heard smaller ins. companies will insure it, I plan to check on it Monday some more.

[Tcoat]

Originally Posted by FRS Justin

Yes this is true the value would be down and the new owner has to accept liability ins. Maybe someone would buy it and give it to their kid and save 14 or 15k from a new one.

Holy crap that much?
Well I guess if the price is that low then the fact you can not fully insure it really isn't that big a deal.

[FRS Justin]

Originally Posted by Tcoat

Holy crap that much?
Well I guess if the price is that low then the fact you can not fully insure it really isn't that big a deal.

Say a new one cost 28k I would gladly take 13 to 14k lol


Lets say I have 8,9, or even 10 k in it and someone uninsured hits me and totals it or someone steals it. Ins. pays me ZERO and that would suck
I guess I'm a scrooge but I would flip if I lost that on someone else's doing

[Tcoat]

Originally Posted by FRS Justin

Say a new one cost 28k I would gladly take 13 to 14k lol


Lets say I have 8,9, or even 10 k in it and someone uninsured hits me and totals it or someone steals it. Ins. pays me ZERO and that would suck
I guess I'm a scrooge but I would flip if I lost that on someone else's doing

But that was the risk you took when buying a salvage title car. Like I said you can't have it both ways.

[Ashikabi]

Is it possible to insure it at a certain value regardless of actual value? As long as you are paying the premium for that level of coverage it shouldn't matter the actual value of what's covered right? Maybe such a thing doesn't exist but a coworker just mentioned it for his motor cycle

[vh_supra26]

I think it depends on which state you live in. We were able to get full coverage on a rebuilt CLK500.