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Insurance Auto Auctions

Posted on Sunday, July 3, 2011 // 0 comment

Insurance Auto Auctions, Inc. is a company which brokers the sale of “total loss” vehicles by insurance companies. This is not an insurance company like AAA; they don’t offer any sort of coverage or quotes or rates. They simply broker to insurance companies selling vehicles.If you are in search of a great bargain, particularly if you don’t mind fixing up a vehicle, then a salvage Insurance Auto Auction vehicle may be exactly what you’re looking for. IAA’s offices are in ME and IL, but Insurance Auto Auctions locations are scattered throughout the USA.

About Insurance Auto Auctions Inc.

Insurance Auto Auctions Inc. was founded in 1982 and has corporate headquarters in ME and IL. It is considered one of the leading companies in the salvage auto auction industry, and partners with many different kinds of sellers such as insurance companies, rental companies, auto dealerships, fleet lease companies, and more. Insurance Auto Auctions, Inc. works toward selling vehicles quickly at good prices, even though those vehicles have been declared total-loss or “totaled” cars. Insurance Auto Auctions, Incorporated has auction facilities located throughout the country and they use a special hybrid auction model to ensure fast service to buyers and sellers. IAA offers three bidding methods for increased flexibility to buyers at auctions. You can either pre-bid online, bid live on location, or try live auction internet bidding using the I-bid LIVE(sm) system. That way you can bid on a vehicle even if you’re too far away to access one of Insurance Auto Auctions’ locations. Insurance Auto Auctions also has a Specialty Division for buying and selling RV’s, trucks, boats, motorcycles, and other specialty vehicles. Insurance Auto Auctions has a buy-it-now feature called I-Buy Fast(sm) for vehicles not sold at prior auctions. Insurance Auto Auctions has CSA Today for sellers, a web-based management tool for salvage operations. With BidFast®, Insurance Auto Auctions provides a simple salvage valuation process with a 60 day guarantee.

About Salvage Insurance Auto Auctions

insurance auto auctionsHow exactly do salvage Insurance Auto Auctions work? Sometimes vehicles which are damaged by floods or other wrecks are declared total losses, or “totaled,” by insurance companies. The insurance companies then pay off the loss. At this point the insurance companies own the totaled cars, and have to do something with them. They may then choose to participate in a salvage Insurance Auto Auction. Through the salvage Insurance Auto Auctions, they can get the cars off their hands, make a small profit, and free up inventory. Meanwhile a buyer can benefit from a great deal. Some of these cars need a lot of repairs, but others are in fine condition. Dealers, individuals, and hobbyists all purchase cars through Auto Insurance Auctions. Another common situation for an Insurance Auto Auction is when a vehicle is stolen and declared a total loss, so the insurance company pays the vehicle owner off for the loss, only to find the vehicle again a few months later. At this point, the vehicle is the insurance company’s property, and it may even be in perfect condition. The insurance company may offer it up in an auto auction, which means a fantastic deal for a buyer, whether an individual or a dealer. The insurance companies which do business through IAA are often major insurers like Allstate, AAA, or Progressive. Want to learn more about IAA before you participate in an auction? If you search online, you can find reviews of consumer experiences with this company. Reading about the deals which other customers found on vehicles can help you make a decision about participation. You may be thinking IAA is best for people who are looking for vehicles to fix up, but there are also people who have found great vehicles in near-perfect condition through IAA. You will read reviews by these people as well, and they should give you a better idea of whether this opportunity is suitable for you.

Insurance Auto Auction Locations

Even though IAA’s headquarters are only in IL and ME, there are Insurance Auto Auction Locations all across America in locations like Houston, Austin, and Dallas, Texas, Ohio, Denver, Colorado, Florida, Georgia, Hawaii, Kansas, NYC, Oregon, Utah, Washington, Phoenix, and NC. You can go to any of these branches if you want to participate in an auction for a total loss vehicle. Since there are so many Insurance Auto Auctions locations, you shouldn’t have much difficulty locating one in a city near you. Auctions are held nearly every day at one or more of these locations. The IAA operates nationally, but you may also find regional salvage auto auctions run by other companies if you search your area. If you cannot visit an auction center run by Insurance Auto Auctions or another company, you can still participate in an auction online. IAA and many other salvage auction companies operate websites which allow you to place bids remotely, live or otherwise. Every auction company has different rules, which they will explain on their websites. Not all auctions are open to individuals; some are dealers only, so check before you try to sign up. Many salvage companies have auctions for individuals and dealers on separate days. Purchasing a salvage vehicle is a great way to save some money on a new car or specialty vehicle. This is an especially great opportunity for a hobbyist or mechanic who has the means and skills to repair a vehicle with some damage to it. It’s also a wonderful way to procure a vehicle with minimal damage or no damage even if you don’t have car repair skills. You may just find a perfect vehicle at a perfect price. Salvage auctions are easy to participate in whether you choose to appear in person to bid or bid online. If you are an insurance company, salvage auctions give you a way to get some inventory off your hands and make money. Whatever angle you are approaching salvage auctions from, Insurance Auto Auctions is the perfect chance to make money selling a totaled car or save money buying a great one!

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