You’ve got this amazing car that you bought as salvage from a used car auction. You’ve spent a long time restoring to a very high standard, and you’ve followed the salvage laws of your state to the letter so it’s completely legal to drive.
Or it would be, if you could just get an insurance company to provide more than basic coverage for it. This means more than the state-mandated minimum level of insurance, usually personal liability and property damage. You spent a long time getting everything just right, and the last thing you want is to have to be held responsible for repairing any damage it sustains in the future, especially after you just rebuilt it.
Despite this, every time you try to get comprehensive insurance or collision coverage on your salvage car, you’re either refused or quoted a very high premium price.
However, you don’t have to take no for an answer – and you shouldn’t, either. In fact, here’s how you can insure your rebuilt salvage car.
It’s Nothing Personal
First, please realize that it’s nothing personal. Insurance companies know that salvage vehicles are some of the worst risks out there when it comes to insurance coverage. Since even rebuilt salvage cars in many cases started out as vehicles that were totaled in an accident sometime in the past, insurance providers simply assume that they’re inherently flawed as a result of that damage.
It’s a simple approach that might be effective from a business standpoint, but it doesn’t take into special cases in which vehicles were properly and carefully restored and are now in very good condition.
Getting Covered Anyway
Insurance companies aren’t much for evaluating cars on a case-by-case basis too closely, as it’s simply not possible to do so when you’re managing the insurance policies for millions of vehicles. However, when it comes to salvage vehicles many insurers are willing to make an exception by providing a personal insurance inspection of your vehicle.
An insurance agent will take a close look at the outside of your vehicle and will often take several pictures of the car to serve as a baseline level in the event that you ever end up in an accident in the future. The agent will also take copious notes for his or her accompanying report, and might also delve into the interior of the car or even look under the hood if they feel it’s necessary.
The agent submits the report back to the insurer, which then makes a determination as to whether your rebuilt salvage car passes their own specific criteria. If the condition of your car meets these thresholds, you’ll be offered physical damage cover like collision and comprehensive.
It is likely that the premium price is going to be high. Still, when the alternative is to either go without physical damage insurance and stick with just PLPD cover or to not drive your car legally at all, paying more than you want for your insurance coverage doesn’t seem like such a bad idea after all.