WHAT ARE INSURANCE CLAIM SETTLEMENT VEHICLES ?     

These are insured vehicles, some having been stolen and then recovered by the insurance company, or having sustained readily repairable damage from collision, vandalism, storms or street flooding.  The individuals that owned these vehicles received settlements as compensation for the damage or loss incurred and the vehicle then became property of the insurance company.  The insurance companies then made these vehicles available to our insurance claim auto brokers who sell them at DEEPLY discounted prices from 51 nationwide locations.

 

Examples:

THEFT RECOVERED VEHICLES For example, you park your fully insured Porsche in the airport parking garage as you depart and return days later to find it gone.  It's reported stolen, but the police don't find it.  Your insurance company then pays you a settlement equal to the value of the car.  However, a few months later the car is discovered several states away in an illicit body shop where stolen cars are disassembled and sold for parts or shipped overseas. The car may be fully intact or may have already had some of it's parts removed and sold.  However the car is no longer yours, it belongs to your insurance company since you were paid a settlement.     

FLOOD CARS :  These are vehicles having been in various depths of water from street flooding that can occur during extreme weather conditions.  There are two types of floods, the "fresh" and "salt" water flood.  Most all flooding conditions are "fresh" water caused from excessive rainfall which is non-corrosive.  Most, but not all of the flood cars that we list have been in depths of water for short durations that the water level usually doesn't get more than a few inches above the carpet.  

VANDALISM AND STORM DAMAGED VEHICLES :  A vandalized vehicle is one that has fallen prey to various degrees of destruction at the hands of a vandal that can include having parts stolen or destroyed.  Storm damage can occur from events such as hail, tree limbs, airborne debris, etc.

COLLISION DAMAGE :   We list vehicles having sustained some degree of collision damage that is readily repairable.  Many people ask,  "why doesn't the insurance company just pay to have these vehicles repaired for their customers". Here's an example why they sometimes opt not to repair a vehicle,  we recently listed a Ferrari that had sustained easily repairable front end damage.  However some of the primary parts needed to make the repair were the front bumper and fenders which were going to be on back-order from Europe for approximately 4 months. During those 4 months this Ferrari would be sitting in a body shop racking up a  storage bill of $30 per day in addition to a $42 per day rental car bill.  The insurance company simply decided to pay the Ferrari owner the replacement cost of the car and forego the long and costly wait for parts.  Plus once an insurance company commits to repairing a vehicle they are at the mercy of whatever surprises may pop up during the repair process in both cost and time.  They sometimes find it simpler and more cost effective to quickly dispose of these vehicles rather than repair them which is all the better for our registered members.  Inventories change daily with thousands of readily repairable and highly desirable vehicles immediately available to our members at DEEPLY discounted prices.

  HOME