735 7282 Insurer's Notification to DMV Notice of Totaled Vehicle Form

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[Music] take our lead let's help you make your mark our goal is your satisfaction let us show you the way do i need to notify the dmv if my car is totaled if you decide to keep a car that has sustained any significant damage then either you or the insurance company it varies by state must report the damage to the state's department of motor vehicles take our lead let's help you make your mark in short yes you can insure a car that has a salvage title but don't expect the full meal deal most insurance companies offer liability insurance on salvage titles collision insurance premiums aren't likely to be any higher for a salvage auto [Music] make your mark take our lead unless the insurance company paid you more than the vehicle's fair market value not what you owed then the payment is not taxable or reportable on your return as a rule they do not pay more than the fmv if they paid you less than the vehicle's fair market value you may be able to claim a casualty loss deduction make your m