News: Consolidator Report
LKQ Corporation and SafeAuto Insurance Company, a consumer-direct auto carrier based in Columbus, Ohio, have entered into a strategic alliance for the disposition of total loss vehicles. Under the terms of the agreement, LKQ will pay SafeAuto an agreed price for total loss vehicles, eliminating the expenses associated with having the vehicles processed through auctions.
The LKQ-SafeAuto alliance will continue to develop the insurance industry’s innovation in the area of alternative parts utilization, the companies say.
“Our alliance with LKQ will advance our ability to deliver high quality and efficient claims services to our customers, which is what it’s all about,” says Rob Huebner, SafeAuto’s material damage manager.
LKQ Senior Vice President Rob Wagman adds, “We’re thrilled to be an innovative partner with SafeAuto. By providing a competitive bid for salvage, we’re keeping salvage from leaving the U.S. and making those parts available to carriers and repairers alike. Keeping salvage in the U.S. will reduce claims costs and the amount of total losses of other damaged vehicles.”