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Who decides the disposition of salvage in a property insurance claim?
Wiki User
∙ 9y ago
Generally, salvage right belong to the owner of the property, Once you have been compensated for the loss, the property now belongs to the insurer, so they would have the salvage rights to it.
Wiki User
∙ 9y ago
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How does an insurance company arrive at salvage value of personal property?
The have companies that will purchase damaged items of personal property or just about anything. They are in the business of repairing items are reselling them. The insurance company has lists of what they can normally sell damaged items for and this will result in a valuation.
What insurance company will give insurance on a salvage title?
Freeway insurance
Can you insure a vehicle with a salvage title?
Yes and no. Insurance companies, as a general rule, will not provide full coverage insurance for vehicles with salvage titles they will however provide liability only insurance.
What is salvage?
Salvage can be defined as * property or goods saved from damage or destruction * save from ruin, destruction, or harm * the act of saving goods or property that were in danger of damage or destruction * the act of rescuing a ship or its crew or its cargo from a shipwreck or a fire The meaning of salvage varies according to the context used. Generally the term is used in the context of Insurance Claim. It means the recovery made by an insurance company by the sale of property which has been taken over from the insured as a part of loss settlement. It can also mean the process of protecting the contents of a building from fire, smoke and water damage. Tools used include salvage covers that are placed over furniture, preventing damage from water and debris.
What is the salvage value of a car for depreciation purposes?
Salvage value is an estimate of the value of property at the end of its usefulness. It's the price that you'd get for it when you can't use it productively. How you use the property and for how long affect salvage value. If you let go of property while it's still in good operating condition, then the salvage value might be high. If you let go of property when it's not usable, its salvage value is its junk value. For more information, go to www.irs.gov/formspubs for Publication 534 (Depreciating Property Placed in Service Before 1987).
You need car insurance to get salvage title?
In Texas you do.
How can you locate RVs totaled by insurance companies to purchase for salvage or retitle as a salvage vehicle?
CONTACT AN CLAIMS AGENT FROM LOCAL INSURANCE COMPANIES, THEY WILL TELL YOU WHICH WRECKER NOW HOLDS TITLE OF THE SALVAGE VEHICLE(S). THEN YOU CAN CALL THE WRECKER DIRECTLY
What do you do when you have a motorcycle on your property that you dont want there?
take it to a salvage yard .
What insurance companies insure vehicles whit a salvage title?
The following insurance companies are known to insure vehicles with a salvage title: Nationwide Esurance Progressive Allstate State Farm The General GeicoHowever you should always double-check with your insurance provider that they are willing to insure a vehicle with a salvage title before making a purchase.
How do you find out why a campers title is salvage?
Answer: Salvage titles come from the insurance companies. Once an insurance company "totals" a vehicle, it becomes "salvaged". Take the ID number to your insurance company and have them run it to see if it is "insurable", best & quickest way and its free.
If your neighbor's timber is blown down onto your property and you can find a logger willing to remove it for its salvage value do you need the neighbor's permission to salvage it in rural MT?
Yes. It is on your property, therefore, it has become yours.
Do you need car insurance for your salvage car in California?
If the car is still going to be driven, then yes it does need insurance.
