Will insurance cost more for a car with a salvage title?
I’m wondering if insurance companies charge higher premiums for cars with a salvage title compared to identical cars with a clean title. Any insights? Thanks!
Will insurance be more expensive for a car with a salvage title?
Yes, insurance is generally more expensive for a car with a salvage title compared to a similar vehicle with a clean title. This is because salvage title cars have been previously damaged and declared a total loss by an insurance company. As a result, insurers view them as higher risk, which can lead to higher premiums.
Additionally, the coverage options may be limited for salvage title vehicles. Some insurers might not offer comprehensive or collision coverage on these cars, and if they do, it usually comes at a higher price. It’s always a good idea to shop around and compare quotes from different insurance companies to get the best rates.