“Insurance Auto Auctions” Auto Auctions are the method of selling vehicles based on the auction system. It can be found in most countries and they are usually very exclusive to licensed automobile dealers. In a few countries such as Japan, auto auctions are well known and also used by most residents.
Insurance Auto Auctions
Insurance Auto Auctions is one Incorporation of the leading live and live-online salvage vehicle Auction Company and a wholly-owned subsidiary of the KAR Auction Service. Its headquarters is in Westchester, Illinois, and owns about 160 auction facilities all over North America.
The auction company has sold out millions of vehicles through its weekly auctions for insurance companies, fleet and rental companies, financing companies, charity organizations, and the general public.
However, most of the auction facilities were situated in North America, IAA provides registered buyers from around the globe with millions of opportunities to bid on and purchase donated and salvaged vehicles.
The IAA holds live, weekly auctions and as well allows all purchasers to bid on the vehicles electronically by using their internet auction bidding technology, which is called “I-bid LIVE”. Today the IAA has given millions of dollars in additional funding to charities by assisting in processing the donated vehicles.
Benefits of Insurance Auto Auctions Employee
Insurance Auto Auctions gives you top-notch competitive insurance and that other benefits to its employees. These benefits are been offered through its parent company, KAR Auction Services, Inc., and also the package that allows the employees to make a choice of the types and the levels of the benefits that best suit them. The following are the benefits given below:
- Dental Insurance: This offers a choice in the dental PPO plans between that the premium plan and the Standard Plan.
- Life Insurance: The KAR Auction Services, Inc., gives you the basic life and accidental death and the dismemberment (AD & D) insurance at no cost in the amount of two times the employee’s annualized salary.
- Disability Insurance: The KAR Auction Services, Inc. provides Short Term (STD) and long-term or period disability (LTD) insurance coverage for free.
- 401(K) Saving Plan: those who participate may contribute 1% to 909% of their pay on the pre-tax basis through that of a traditional 401(k) account or that of the post-tax basis through the Roth account. KAR Auction Services provides a match of 100% for the first 4% of the participant contribution.
- It’s Cheap: it is cheap to both the buyer and to the seller of the car. The buying power can go high by the numerous percentages that may be surprising to you in the first instance. You cost assured that you are having the proper value for the money at the end of the day.
- The seller and buyers Benefits.
- Plenty of options.