Automotive

Purchased a rebuilt title in Ontario. Should I be worried about insurance?

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  • Jun 1st, 2020 8:44 am
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May 27th, 2020 7:29 pm
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 27th, 2020 7:29 pm

Purchased a rebuilt title in Ontario. Should I be worried about insurance?

Got a great deal on a car that was rebuilt. Market price would be about 26k, rebuilt price usually around 20, and I got it for 18500 with some things thrown in. Saw pictures and I couldn't believe it was deemed salvage. Literally only the bumper and a few other pieces near the back were replaced.

Now I own a rebuilt car and need to insure it. I know some will insure it, but I didn't have a chance to do a ton of research.

What companies are known to insure rebuilt titles? Anything I should worry about insurance-wise?
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May 27th, 2020 8:40 pm
Toolatecrew
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Oct 5, 2009
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Dartmouth

May 27th, 2020 8:40 pm

You should not have an issue insuring it. Just be aware if you ever are involved in an accident that results in a total loss that there will be a substantial hit to the value they pay you due to the rebuilt title. You paid less for it so you will get less.
May 27th, 2020 8:46 pm
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 27th, 2020 8:46 pm

Toolatecrew wrote: ↑ You should not have an issue insuring it. Just be aware if you ever are involved in an accident that results in a total loss that there will be a substantial hit to the value they pay you due to the rebuilt title. You paid less for it so you will get less.
Haven’t had a chance to call around and there’s so many companies. Tried Desjardin very quick and they won’t insure it. Do you know who might ?
May 27th, 2020 9:12 pm
karakoram
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Dec 16, 2014
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Easter Island

May 27th, 2020 9:12 pm

Behacad wrote: ↑ Haven’t had a chance to call around and there’s so many companies. Tried Desjardin very quick and they won’t insure it. Do you know who might ?
If it's been deemed FIT and road worthy, why aren't they insuring it?
May 27th, 2020 9:28 pm
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 27th, 2020 9:28 pm

karakoram wrote: ↑ If it's been deemed FIT and road worthy, why aren't they insuring it?
They simply will not. Company policy.
May 27th, 2020 9:30 pm
katonfire
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May 27, 2011
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NORTH YORK

May 27th, 2020 9:30 pm

I think Quebec is the only place you can insure a rebuild title.
May 27th, 2020 9:32 pm
Behacad [OP]
Member
Dec 10, 2012
276 posts
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May 27th, 2020 9:32 pm

Double_J wrote: ↑ I didn't have any issues getting insurance with my car. I only had to provide the safety documents from the garage.
What company?
May 27th, 2020 10:01 pm
mikeymike1
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Apr 16, 2007
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Financial District B…

May 27th, 2020 10:01 pm

Behacad wrote: ↑ What company?
Most insurance companies won't insure rebuilt titles, and if they do it may be expensive and they may not even offer full coverage.
Most banks also won't finance rebuilt titles. While not knowing if you financed yours or not, just throwing that info out there.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
+1
May 27th, 2020 10:08 pm
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 27th, 2020 10:08 pm

mikeymike1 wrote: ↑ Most insurance companies won't insure rebuilt titles, and if they do it may be expensive and they may not even offer full coverage.
Most banks also won't finance rebuilt titles. While not knowing if you financed yours or not, just throwing that info out there.
Thanks man
May 27th, 2020 10:55 pm
engineered
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Feb 11, 2007
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GTA

May 27th, 2020 10:55 pm

If they won't insure the car, will they give you liability insurance?
If the women don't find you handsome, they should at least find you handy.
May 27th, 2020 11:15 pm
Toolatecrew
Deal Addict
Oct 5, 2009
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Dartmouth

May 27th, 2020 11:15 pm

katonfire wrote: ↑ I think Quebec is the only place you can insure a rebuild title.
Not true plenty of rebuilt cars in NS,NB and NL that have insurance.
Easiest route would be to try a broker who would have multiple insurers they could try to see who wants to underwrite the risk.
+2
May 28th, 2020 1:33 am
Rembokz
Jr. Member
Mar 30, 2011
171 posts
134 upvotes

May 28th, 2020 1:33 am

From my understanding, rebuilt titles can get insurance coverages, however keep in mind some companies may not provide it do to company policy and other companies may only offer third party liability insurance and not collision or comprehensive.
+1
May 28th, 2020 9:20 am
Kaeoue
Sr. Member
May 18, 2008
767 posts
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Toronto

May 28th, 2020 9:20 am

katonfire wrote: ↑ I think Quebec is the only place you can insure a rebuild title.
I can name 3 insurance companies in Ontario that will cover them
+1
May 28th, 2020 9:26 am
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 28th, 2020 9:26 am

Kaeoue wrote: ↑ I can name 3 insurance companies in Ontario that will cover them
Ok! I’m ready to hear them!
May 28th, 2020 10:01 am
Kaeoue
Sr. Member
May 18, 2008
767 posts
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Toronto

May 28th, 2020 10:01 am

Behacad wrote: ↑ Ok! I’m ready to hear them!
Sonnet and Wawanesa I know for sure, the last one may have changed their policy as its been quite a while since then.
May 28th, 2020 10:26 am
COSMIC5
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Aug 11, 2008
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Ontario

May 28th, 2020 10:26 am

You may need to provide a structural safety
RIBO LICENCED INSURANCE BROKER, over 35 years experience
+3
May 28th, 2020 10:32 am
Behacad [OP]
Member
Dec 10, 2012
276 posts
280 upvotes

May 28th, 2020 10:32 am

COSMIC5 wrote: ↑ You may need to provide a structural safety
That’s a given in Ontario for any rebuilt car or really any new car getting registered I think, the “safety”?
May 28th, 2020 10:42 am
zeddy
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Jun 12, 2008
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Ripley

May 28th, 2020 10:42 am

Insured one with Sonnet in September. In Ontario.

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