Your changes will require approval by an administrator before they are published.
The article has been updated successfully but requires approval before it is published.Last Updated 7th of July, 2010
Why is an insurance company showing as a previous owner on a vehicle history report?
|
Enter your Zip Code below to get a Free Quote. We suggest getting quotes from multiple companies to ensure you get the best rate. There is no obligation to purchase. 
|
Salvage History
Usually, the reason an insurance company is showing as a previous owner on a vehicle history report is because the used car was once in a major accident and salvaged.A vehicle history report will contain all kinds of information on a used car, including previous owners and title history. Sometimes you’ll see that a used car was once owned by an insurance company, and you should take notice.
When a used car is in a major accident, the insurance company has to calculate whether the cost of fixing the car makes it worth the repairs. If costs exceed the value of the car, an insurance company will usually just pay the owner the value of the used car and seize the wreckage. Whatever remains of the car is considered salvage, which will be reflected on the title.
A used car that was previously salvaged is generally worth less than other used cars of its same make, model and year. The reason is that a severely damaged car may never run the same way again.
Read the Vehicle History Report
It’s important to find out whether or not a used car has been salvaged to make sure you don’t overpay. If you want to make sure a used car was never owned by an insurance company or salvaged, check the vehicle history report. Ordering a vehicle history report online is the quickest way to get the information you’re looking for.Post Comment for "Why is an insurance company showing as a previous owner on a vehicle history report?"
To post a comment for this article, simply complete the form below. Fields marked with an asterisk are required.
User Opinions
No users have voted.
Visitor Comments