What if my salvaged title car is stolen?

I bought my car back after an accident, so it has a salvaged title. It is a Honda. It runs and drives great and has for a few years since the accident. Someone tried to break in to it the other night which brings my question. What if someone did steal it? I don't have full coverage because I can't, but I love my car! How can I protect my assest?

Unless you have comprehensive insure coverage on your Honda you are screwed, Ryan. Unless law enforcement can track down who stole your Honda you will not receive any compensation without having comprehensive insurance coverage.

If someone stole the car, you would call the police.

Use what is called a "sinking fund" or "self insurance". Take the money that you would be spending on comprehensive insurance (if you could get it, which you can't on a salvage car) and put that amount (or more) PLUS the money you saved by not getting a loan to buy a new car, regularly into a savings account or under your mattress. That is the money you will use to buy a replacement car if yours gets damaged or stolen.

People who own several large assets sometimes self-insure by treating the entirety as the insurance for each individual part. If for instance you own several ships, the loss of one can be covered by what you can borrow against the others. About a hundred years ago a Danish shipping company self-insured their two ships that way. Unfortunately one foggy night the two vessels collided with each other, and both sank. Oops!

If you have a Honda Accord, then you have a problem, since Accords are one of the most popular vehicles stolen, no matter what year it is. Since salvaged, then can't buy comprehensive coverage, so if stolen, you can only "hope" the police find it.

Put an alarm in it!