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Insurance and Salvage Cars: How Does it Work and Should I Sell My Salvage Car?

In the aftermath of a car wreck, there are many things to consider. And if dealing with a salvage car isn’t enough, you also need to figure out the ins and outs of your insurance, or lack thereof.

Sell Your Damaged Car, the largest salvage auctioneer in SA is here to help you understand some of the processes and provide valuable insights to help you decide on the best course of action following a car accident that leaves you with a written-off vehicle.

Insurance Intricacies

Insurance companies use various guidelines to determine whether a damaged car is beyond repair or not. Should your insurer decide that your vehicle is beyond repair, you, the policyholder, will be indemnified, and the vehicle will transfer to the insurer, who then holds the right to salvage the car. If you are underinsured, you won’t be fully indemnified, and are entitled to a percentage of the salvage amount.

If your claim is rejected you should inquire about the salvage, as insurers often grant a grace period for the removal of the vehicle. If you are uninsured, you must decide whether you want to repair the damaged vehicle or sell the salvage car.

Financial Fine Points

If your vehicle was financed, you may also need to speak with your banking institution, as finance agreements will impact how your salvage car is dealt with. Your insurer will comply with agreements with the bank for financed vehicles. Your financial institution will also require settlement from you and/or your insurer. Generally, once a vehicle is written off, the decision is final, due to the vehicle being the property of the bank until paid off.

Salvage Simplified

You’ve dealt with your insurance, you’ve spoken with the bank, and you are stuck with a salvage vehicle. You could choose to repair the vehicle, or you could contact Sell Your Damaged Car for a simple solution.

• SYDC will buy any car with any damage for cash
• SYDC offers fast and secure service
• Get an obligation-free offer within 24 hours
• SYDC handles all paperwork and offers free towing
• SYDC offers instant cash for your salvage car

Sell Your Salvage Car

Understanding how insurance works on salvage cars is crucial, especially if you're considering selling one. Sell Your Damaged Car's commitment to buying any car, irrespective of the damage, coupled with their fast, safe, and easy process, makes them the leading choice for selling your salvage car.

So, should you sell your salvage car? With SYDC, the answer is – undoubtedly – a resounding yes. Contact Sell Your Damaged Car to get started!