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What Does a “Salvage Title” Mean in New York?

Posted in Car Accidents on July 25, 2022

What Does a “Salvage Title” Mean in New York?

A salvage title indicates that a motor vehicle has sustained severe damage. The severe damage could be from a car accident or other event. Before the vehicle can receive a new title, the New York Department of Motor Vehicles (DMV) must inspect the vehicle.

What Qualifications Must Be Met for a Vehicle To Receive a Salvage Title in New York?

Under New York law, a vehicle is issued a salvage title if:

  • Another state issued a salvage title before the vehicle was brought to New York
  • The repair costs exceed 75% of the vehicle’s pre-damage retail value
  • An insurance company acquired a Salvage Certificate because the vehicle sustained significant damage from a collision, water, vandalism, or theft
  • The owner declared the vehicle a “wreck” on the back of the New York State title when transferring or selling the vehicle

It could be possible to rebuild a salvage vehicle for road use. However, the New York DMV must inspect the vehicle, according to the New York State Auto Theft Prevention Program. The DMV will not examine or issue a title certificate if the salvage certificate states parts only, scrapped, non-rebuildable, destroyed, or non-repairable.

The inspection protects consumers. The DMV inspection identifies stolen items and helps prevent vehicle theft and vehicle parts theft. However, the salvage vehicle examination is not a safety, emissions, or insurance inspection.

How Do Insurance Companies Obtain Salvage Titles to Vehicles After a Car Accident in New York?

After a car accident, the insurance company assigns a claims adjuster. You will deal with the insurance company for repairs and compensation for damages. The insurance adjuster inspects the vehicle to determine the extent of the damage.

If possible, the vehicle is repaired. The at-fault driver’s insurance company pays for the cost of repair. However, if you cause an accident, your insurance company might cover the repair costs if you have collision insurance coverage.

When the insurance company repairs your vehicle after a car crash, demand the insurance company pay for new parts designed for your vehicle. If the repair shop uses aftermarket or used vehicle parts, it reduces the value of your vehicle.

You may also want to obtain two or three additional itemized repair estimates. Then, you can compare the estimates to the repairs made to ensure all damage to your vehicle is repaired before settling a property damage claim.

If the repair cost exceeds the vehicle’s value, the vehicle is a total loss. The insurance company may also find the vehicle is a total loss if the repair costs exceed 75% of the vehicle’s fair market value before the wreck.

When a vehicle is a total loss, the insurance company pays the owner the vehicle’s fair market value. Several factors determine the fair market value. Factors used to calculate a vehicle’s value include:

  • The year, model, and make of the vehicle
  • The vehicle’s mileage
  • Special systems or features
  • The vehicle’s overall condition before the collision
  • The current market for your vehicle

Property damage claims are generally settled before personal injury claims. However, be careful when signing a settlement and release for property damage claims.

Read the entire agreement to ensure that the agreement does not include any references to personal injuries. If you sign a release that includes your personal injury claim, you will be unable to demand additional compensation for damages.

What Other Compensation Should I Receive After a Car Accident in New York?

Car accidents can cause severe injuries. When a person is injured in a car crash, they can seek compensation by filing a personal injury claim. Under personal injury laws, accident victims can receive compensation for their financial losses.

Economic damages for a car accident claim can include:

In addition to the monetary losses a person incurs because of a car crash, there are also pain and suffering damages. These non-economic damages may also be compensated in a personal injury claim. Examples of non-economic damages include:

  • Permanent impairments and disabilities
  • Physical pain and discomfort
  • Diminished quality of life
  • Disfigurement and scarring
  • Mental anguish
  • Loss of enjoyment of life
  • Emotional distress

The amount of money you receive for a car accident depends on the facts of your case. Severe injuries usually increase the value of the claim. Traumatic injuries generally have higher medical costs and lost wages.

Catastrophic injuries often result in permanent impairments. In addition, you could receive compensation for future damages, increasing your claim’s value. If you are unsure of the value of your damages after a car accident, it is best to seek legal advice from a car accident lawyer before accepting a settlement offer.

Contact Our Car Accident Law Firm in New York, NY

If you need legal assistance, contact the New York City car accident lawyers at Law Offices of Jay S. Knispel Personal Injury Lawyers at your nearest location to schedule a free consultation.

We have two convenient locations in New York:

Law Offices of Jay S. Knispel Personal Injury Lawyers – New York City Office
450 7th Ave #409
New York, NY 10123
(212) 564-2800

Law Offices of Jay S. Knispel Personal Injury Lawyers – Brooklyn Office
26 Court St Suite 2511
Brooklyn, NY 11242
(718) 802-1600

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