America’s most trusted source for Government seized and surplus car sales and Gov-auctions School.
Government auctions can be a blessing in disguise sometimes. There are times that you could get that gem for dirt cheap at an auction. It really just depends on how many people know how valuable the product you’re buying is worth. Always do your research before going to any auction. You will totally have the upper hand and knowledge over others if you are more prepared.
Going to the auctions are always kind of exciting. It’s kind of like treasure hunting on a much smaller level. I love it though. Every time I go, I usually come back with something. Rather it’s something new or something old, I am interested. Age has nothing to with my decision process, just knowing what I want and like. Moving forward, you will be more prepared and ready for the next auction to take off. Have fun and go crazy finding your next gem. I know I will.
Across America US government agencies are still replacing and disposing of all types of items. Such as cars, trucks, SUVs, equipment, real estate and personal property. Many of which are in sweet condition and sold to the public at great savings. Rather than hold these items, government auctions enable these agencies to sell items quickly to the advantage of the buyer – YOU! Smart shoppers who attend government auctions can often pick up amazing bargains.
Start Saving at Government Auctions Near You – Here’s How!
Due to the savings for regular auction buyers, government auctions have been a well-kept secret. The key for shoppers is to find out where and when these auctions are being held. Gov-Auctions.org provides you access to 4,000+ public and government auctions across the United States. Join now to see why Gov-Auctions.org is the most trusted and largest resource on the Internet for government auctions. We guarantee listings in every state of the US.
One of the most common misconceptions buyers of auction cars have is that their financial responsibility ends once they have paid for the vehicle. That only happens if they:
- Have paid the car in cash.
- Do not have to spend for hauling or transporting the vehicle.
- Have no plans of driving it.
Let’s focus on the last point. All types of cars, whether they are purchased at an auction or not, need to be covered by insurance. Especially if there’s an intention to drive. Although the rules may slightly differ among states, they are one in agreement. That insurance sees to it that if something happens on the road, like damage to property or bodily injury, the aggrieved party can look forward to a claim.
Question is, what kind of insurance can buyers of auction cars have? Or is it possible for auction cars to be covered by insurance?
On the first question,
The basic answer depends on the statutes of the state. They may have determined the minimum amount for general liability or collision insurance. As well as, the possible deductible that can be had to reduce insurance premium. For example, in New York, a driver needs to have insurance coverage worth at least $10,000 for property damage in one accident. And, that is different from the figures in the accident results in death.
The kinds of insurance available also depend on the state. A standard is, of course, general liability and collision coverage. Some insurance companies have also packaged auto insurance with either life or health insurance. Any person who decides to buy insurance should exercise due diligence to determine not only whether the premium is affordable but also whether they need the other insurance.
It is also possible to secure temporary insurance, which works if the vehicle will be driven infrequently. Mind that this type of insurance has a very short duration.
What Cars Can Be Covered?
The second question, meanwhile, is another matter because of both state laws and discretion of the insurance company. Take, for example, a salvage car in New York.
A salvage car is a vehicle that has been totaled and the estimated value of the damage is more than a certain threshold. In the mentioned state, a car is considered salvage if the damage is over 75 percent its value. In addition, to the vehicle eight years or newer. Further, before this vehicle may be driven again after it gets fixed, it should be executed a salvage title.
Salvage car, in general, can still be insured, but again, it is all up to the insurance company. Buyers should be warned, however, that the process can be difficult.
How to Get Auto Insurance
Some auctions are comprehensive that buyers can already arrange for auto insurance on-site through third parties. In certain instances, the auctioneers themselves arrange for the coverage. Otherwise, you haul the vehicle and shop for insurance later. You can use online comparison tools to get as many quotes as you can and find the best deal within your area.