I'm car shopping and found a car with a rebuilt title I love. Saw the damage from the accident and it looks minor to me. Dealership is fine with me taking it to a third party mechanic to have it inspected.
Insurance company (Geico) could not seem to care less that it's a rebuilt title. They said they do insurance claims based off of the 'value of the car' so I asked them how much does a rebuilt title lower their perceived value of a car? 30%? 50%? They would not say.
Edit: Insurance offers full coverage at no change in cost from current non rebuilt title vehicle.
TL;DR – Title.
Roughly how much does an auto insurance company value a rebuilt title car?
byu/IWBTS inInsurance
Posted by IWBTS
4 Comments
When it comes to a total loss at least the company I work for would value it typically 30% less than a clean title
Keep in mind, you’re not paying discounted rates for a salvage vehicle.
Are they offering comprehensive and collision coverage? I’m guessing they are only going to provide liability coverage, which means there is no coverage for the vehicle.
Many insurance companies won’t insure a salvage vehicle for collision coverage. Liability only.