I want to purchase a vehicle with a branded title but I would like to understand how a branded title affects insurance before making the move.
1 Like
Some insurance providers may not offer coverage for vehicles with branded titles, necessitating a search for insurance options across different companies.
1 Like
I’m based in New York and I worked as a broker for some time. So this day someone with a branded vehicle walked in seeking help.
Not many people know this but the DMV rules for the New York state require that a vehicle that is 8 model years old or newer and has been damaged and the total estimate of rebuild exceeding 75% of its initial value must be branded as rebuilt savage.
Now, the laws state that a car branded as rebuilt savage can be insured. It is up to you to talk with the right brokers to find you the best deals.
You might need to compare quotes from different insurance providers if your automobile has a branded title.
Insurance is not a problem, however there will be problems with claims. The cost of the insurance is based on a standard model, but I assure individuals they will know more about the value than I will, and the adjuster will find out the real story.
Most folks don’t mind and will still buy the comp/coll if it’s reasonably priced.
Yes, a branded title affects insurance. A branded title implies that the vehicle has previously incurred serious damage and was declared a total loss by an insurance provider.