Insurance Auto Auctions Company Description
Getting something out of nothing is what this junkyard doggedly pursues. Insurance Auto Auctions (IAAI) is a leading US auto salvage company that auctions off cars declared a total loss for insurance purposes; it auctions either whole vehicles or, if they can't be fixed, just the parts. IAAI has about 150 auction sites throughout North America. It primarily sells on consignment or buys the cars outright, negotiating salvage contracts with major insurers, but IAAI is trying to transition more of its business to a percentage-of-sale basis, in which its salvage clients (including State Farm, Farmers Insurance, and Allstate) get a percentage of the auction sale price. Founded in 1982, IAA is owned by KAR Holdings.
View the Comprehensive Company Description for Insurance Auto Auctions
The Company Description provides a historical perspective of Insurance Auto Auctions's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Insurance Auto Auctions's evolution in the marketplace.
