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How can you obtain collision and comprehensive auto insurance on a vehicle with a salvage title in NJ Can you insure it under your homeowner's policy?In: Auto Insurance |
Answer
No homeowners insurance does not cover vehicles that for use on roads.
Answer
It should not be a problem. Geico insures salvage cars, as do most insurance companies. Just remember the car is worth less as a salvage if it's re-totaled the actual cash value of the car is about 40% less than a comparable clean titled car. And it's easier to re-total the car a 2nd time since it's worth less, so minor damage may re-total it. Lesson: don't pay too much for salvage cars and don't get in an accident!
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First answer by ID407519047. Last edit by Tobeginwith. Contributor trust: 19 [recommend contributor]. Question popularity: 30 [recommend question]
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