An Owner-Retained Title may be obtained when an insurance company deems a vehicle to be a total loss and the owner keeps possession of the vehicle. The vehicle must have an active registration and must be capable of being legally and safely operated at the time of the loss. An Owner-Retained Title does not require a Salvage Inspection. Owner-Retained Titles require a secondary brand of Fire, Vandalism, Collision, Theft, Flood, Salt, or Other.
To apply for an Owner-Retained Title, you will need the following documentation:
- Certificate of Title
- A copy of your active registration
- An Appraisal Report from your insurance company
- A completed Application for Salvage Title (RMV-1 Form), clearly marked as "Salvage Repairable" and with the appropriate secondary brand(s)
- $75.00 title fee
- You must apply for an Owner-Retained Title within ten (10) days of receiving the settlement from the insurance company.
- Your vehicle remains registered and can be driven throughout the Owner-Retained Title process and after obtaining an Owner-Retained Title. However, it is recommended that you contact your insurance company. The insurance company may choose not to provide physical damage coverage (comprehensive and collision).
- A Prior Owner-Retained Title is issued when an Owner-Retained Title has been assigned to a new owner. This title requires a secondary brand of Fire, Vandalism, Collision, Theft, Flood, Salt, or Other.
Detailed policies, information, and instructions about Owner-Retained Total Loss Titles