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How Insurance Salvage Auctions Affect Your Total Loss Claim cover art

How Insurance Salvage Auctions Affect Your Total Loss Claim

How Insurance Salvage Auctions Affect Your Total Loss Claim

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When your car is declared a total loss, the insurance company takes possession and often sells it at a salvage auction. But how is the salvage value calculated, and does it affect your payout? In this episode, Lucas and Luna break down the mechanics of salvage auctions, the role of companies like Copart and IAA, and what happens to your vehicle after the claim is settled. They explain the difference between a salvage title and a rebuilt title, why some insurers bid on their own salvaged vehicles, and how policyholders can sometimes buy back their own car. Specific numbers and real-world examples illustrate how salvage recovery reduces insurer losses and ultimately impacts premiums. Listeners will learn one concrete thing: the salvage value deducted from your settlement is not arbitrary — it's based on actual auction data, and you have the right to question it. #InsuranceSalvageAuctions #TotalLossClaim #Copart #IAA #SalvageTitle #RebuiltTitle #AutoInsurance #ClaimsProcess #SalvageValue #InsurancePayout #CarInsurance #TotalLoss #PolicyholderRights #InsuranceAdjuster #Finance #FexingoInsurance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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