What industry is Insurance Auto Auctions?

automotive salvage industry
One of the companies spearheading the charge in the automotive salvage industry is Insurance Auto Auctions (IAA), a leading North American salvage auto auction company. Each year, IAA auctions more than a million salvage vehicles to registered buyers around the globe.

What does insurance auto auction do?

Insurance auto auctions sell cars, trucks, bikes and also boats that have been damaged by collision; flooding; theft or fire or been subject to loss in some other way. At an insurance auto auction there might also be vehicles for sale that have been repossessed against defaulted payments.

Can anyone buy from IAA?

As a Public Buyer, you do not need a business license. You will be able to bid at facilities that are open to Public Buyers, on vehicles that can be sold to Public Buyers. Licensed Brokers are experienced buyers with the ability to help individuals and businesses purchase practically any vehicle from any IAA auction.

What does IAA stand for in insurance?

Insurance Auto Auctions (IAA) is a leading auto auction company selling all kinds of cars, trucks, SUV’s and motorcycles.

Are cars sold at auction good?

While some low-end auctions sell troubled cars, most cars at auctions are high-quality used cars. Compared to an average car buyer, a dealer also has a better eye for vehicles and can quickly assess feasible options. They’re also likely to get the cars repaired and cleaned up so they can sell them for more.

Can I drive a car from iaai?

Run & Drive serves as a spotlight for our operational vehicles that can be driven through our physical lanes including many clear-title and light-damage vehicles. The Run & Drive feature is utilized at all IAA locations.

How do auto insurance companies value your car?

Auto insurance companies determine car value using formulas that are unique to their companies. In some cases, a car insurance company may use an appraisal service to estimate a car’s value. This process aims to determine if your vehicle can be repaired for a reasonable cost or if your car is a total loss.

How do you sell car insurance?

Selling car insurance requires a property and casualty insurance license. Licenses are state specific with licensing requirements that are maintained by each state’s department of insurance. You need to meet the course-hour requirements, pass an exam and become “appointed” with an insurance company to sell car insurance.

Can I buy auto insurance online?

Most auto insurance companies now provide easy online shopping options; allowing consumers to obtain auto insurance quotes based on where the vehicle is located, make comparisons with competitors, purchase insurance, and print out insurance documents. Among the companies with greatest online presence are: Geico.