Insurance Info

Insurance Auto Auctions, Inc., a leading provider of automotive
salvage and claims processing services in the United States,
today announced record vehicle returns during the second
quarter.

IAA’s dual bidding strategy has continued to drive more buyers
to the Company’s auctions than ever before, resulting in
increased bidding activity and higher vehicle returns for its
insurance company suppliers.

“Combining the feedback we have been receiving from our
customers with our internal data, we believe our vehicle returns
were the highest in the industry during the quarter, which we
feel is a direct result of our dual bidding platform and
improved levels of customer service,” said Tom O’Brien, CEO. “On
average, our returns have increased more than $300 per unit
compared to 2003, providing a significantly better return for
our insurance company suppliers. Our live auctions, most of
which feature Run & Drive(R) auction lanes, are supplemented
with our state-of-the-art Internet bidding capability, giving
our growing customer base the flexibility to see and bid on our
vehicles up close or through the Internet from anywhere in the
world in a real-time setting. Enthusiastic buyer support of our
auction model is clearly evident from the increase in buyer
participation we have experienced, both at live auctions and via
the Internet. By encouraging more buyers to come on to our
bidding platform than ever before, we believe that during the
quarter we were able to generate more bidding activity and the
highest vehicle returns in the industry.” Continue reading ‘Insurance Auto Auctions Drives Record Returns for Its Customers’ »

Insurance salvage auto auctions are like a unknown and uncharted territory to most. While you can get some excellent deals there, you need to know how to properly use them to you advantage or you could end up getting burned. Use these FAQs as a guideline before even thinking about going to one.

1. What is a salvage auto auction? An insurance auction is basically a regular car auction that only sells vehicles that insurance companies have labeled as salvaged.

2. What are salvaged cars? Salvaged cars are those that have been in an accident, flood or fire and are considered totaled by the previous owner’s auto insurance. A salvage car could get that title for something as little as having the airbag deploy in a minor fender bender. Or be completely burned to a crisp. Continue reading ‘5 Things You Need to Know About Salvage Insurance Auto Auctions’ »