Auto Insurance Claims: Stolen Vehicle Value, salvage title, independent appraiser

Question
Hi Richard,
I bought a vehicle a while back with a salvaged title. Reason being, it was stolen from the original owner and now its no longer considered a clean title. No wrecks or accidents in the history. I just got in a wreck and it might be considered totaled. Being that it was salvaged before (due to theft), would that have an effect on the $$ return i would get (if in fact its totaled)?

Thanks!

Answer
Hi Blyne,

Unfortunately, yes. You can expect that the insurance comapy will try to deduct 40% to 50% of the value of the vehicle because it has a salvage title. It will be up to you to argue the fact that it was only a salvage title due to it being an unrecovered theft.

You may have to hire an independent appraiser to help you. If you have to go that far, do not hire anyone that primarily does work for insurance companies because they will have the same opinion.

I hope this helps
Richard Hixenbaugh