I T-boned a deer in my 1970 Chevelle. The damage was $35,000. The car was valued at $50,000. The insurance company declared it a “Total Loss” because the salvage value was high. They offered me the $50,000 check but said they were taking the car to the scrapyard. I was devastated—I wanted to fix it. I didn’t have the “Cherished Salvage” clause.
Key Takeaways
- The “Total Loss” Math: If Repair Cost + Salvage Value > Vehicle Value, they total it.
- Buying Back is Expensive: Without a special clause, you have to bid against the scrapyard to buy your own car back, eating into your payout.
- Cherished Salvage: This feature (Hagerty) or “Salvage Buyback” (Grundy) lets you keep the car and the full check without deduction.
- Salvage Title: Even if you keep it, the title will likely be branded “Salvage.” This hurts future value.
The “Why” (The Trap): Subrogation Rights
When an insurer pays a total loss, they legally buy the car from you. It becomes their asset. They sell it to Copart to recoup some of their loss.
If you want it back, you have to buy it from them.
Standard policies deduct the “Salvage Value” (e.g., $10,000) from your $50,000 check. So you get the car + $40,000.
[IMAGE: Graphic showing two checks: Check A (Standard) = Value minus Salvage. Check B (Cherished Salvage) = Full Value + Car]
The Investigation: I Called Them
I compared how carriers handle the “Totaled” classic.
1. Hagerty (Cherished Salvage)
- Feature: Add-on (Cost ~$50/year).
- Result: You keep the car. You get the full $50,000 check. No deduction.
- Verdict: A no-brainer for sentimental cars.
2. Grundy
- Feature: Included in many policies.
- Result: Similar outcome. They allow you to keep the salvage.
- Verdict: Excellent.
3. State Farm (Standard)
- Result: They deduct the salvage value.
- The Risk: Sometimes they refuse to sell it back to you if the damage is severe (liability fear).
Comparison Table
| Policy | You Keep Car? | Deduct Salvage Value? | Payout on $50k Car |
| Standard | If negotiated | Yes ($10k deduction) | $40k + Car |
| Hagerty (Basic) | If negotiated | Yes | $40k + Car |
| Hagerty (Cherished) | Automatic | No | $50k + Car |
Step-by-Step Action Plan
- Check the Box: Go to your policy portal. Look for “Cherished Salvage” or “Vehicle Retention.” Enable it.
- Understand the Title: In some states, if you keep the car, you MUST switch the title to Salvage. In others, if the car is old enough, you might keep a clean title. Check state laws.
- Be Prepared to Fix: A total loss check is usually enough to fix the car if you do some labor yourself. Professional shops may refuse to work on a salvage title car.
- Re-Insuring: Once fixed, getting full coverage on a “Salvage Title” classic is hard. You may be limited to Liability Only.
FAQ Section
Can I drive a salvage title car?
Not immediately. You usually have to pass a state “Rebuilt Inspection” to make it road legal again.
Does Cherished Salvage cost extra?
Yes, typically a small percentage of the premium.
What if the car is a “pancake” (unfixable)?
You can still keep it for the VIN tags and spare parts. Cherished Salvage allows this.