One great way for consumers to pick up cheap vehicles is at auctions. Auction vehicles are typically seized or surrendered vehicles, or may be leased vehicles that were eventually paid for by a city or municipality and are now for sale. Many of these vehicles are in great condition and can be driven directly off the auction yard and back to an owner’s home – providing they have the proper car insurance. Fortunately, in the age of the Internet, it is possible to obtain quick car insurance quotes for auction vehicles to get them on the road as soon as possible. A great insurance company should be able to do a great deal in a short period of time, provided that the owner can supply them with the required information.
There are a number of potential issues with vehicles for sale at auction, some of which a car insurance company will ask about. The first is the reliability of the car. Some of these auction vehicles may come with a mechanic's certificate showing that they have been checked over and are in good running condition; some will not. Those that do not will have to be inspected before an insurance company will agree to cover them. As well, it is important to have the paperwork indicating that the car has now transferred ownership – often called the “bill of sale” - and to ensure that the car is free of title liens. This should have been done prior to the vehicle going up for auction, but a buyer can never be too careful and should seek their money back if the item was sold with an undisclosed lien on it.
Once an insurance company has all of the required information about the owner and their new car – including VIN number, plate number and any history of the vehicle, a quote and policy can be prepared. This procedure will go much faster if a consumer is already with an insurance company, as they will be able to quickly access their information and provide a policy within hours or even minutes.
Buying auction vehicles can be an excellent way to save money and find a reliable mode of transportation that is in good condition. When it comes to obtaining insurance for these vehicles, however, it is important that clients obtain all of the information they can about the vehicles and that they are forthcoming with the insurance company about any potential problems. Non-disclosure by a client can result in fraud charges and void insurance, even if the intention was to simply get the car home. Following the right steps, auction vehicle insurance can be quickly obtained.