usually insurance auction means that, the insurance company that has the vehicle is auctioning it. and therefore the broker, or company your using to buy the Car needs to Go and Bid on the car in person like a real auction.
"do i here 50, can i get 50, ok we got 50, can i get 100, 100 folks come on, 100, ok we got 100, do i hear 200, 200 for this fine Wrecked Car, come on 200.. alright, 200 going once, going twice, Sold!"
and as for Flood Damage, i really suggest you don't do it. here are the issues with Flood damage.
Electic- all electric components, wires, chips, sensors are messed up and if turned on will proabably cause malfunctions or may come on fire.
Engine - all engine components, will be full of water so the engine it self unless which i even doubt it will work, but unless you get it rebuilt chances are .. it may not run.
Body - Depending on where , and how long you Could have Body rust.. eww
At least with a wrecked car, that got smashed on the side or something, or like one that was stolen, sure it looks pretty messed up in that one area. Usally you can just buy or find the new area of damage. and if it was stolen you will probably replace the parts with custom stuff. but you don't have to worry about body rust, the engine is still intact, and the wiring will probably not be Bad.
Also, look to see what titel they have. Be extremly careful on that info as that info can make you or break you.
Example.
certificate of destruction - means the car is no Good and in most states even if rebuilt will not get a title. no title, no insurace and no driving it legally
so Quick recap from what i learned reading sites and such.
Certifacate of destruction - no good, car can only be used for parts, or export.
Insurace Auction - the car is not Owned by the company your using to buy the car and they will go and bid on the car but offer no security that they will get it. but will most likely refund your deposite or use it towrds your next offer ( you will need to read those rules/guildlines each site has slighty different ones)
Salvage title - the car was in an accident, and has a title stating it was in an accident. this is used to avoid people from repairing the car and selling it as new, or uncrashed.
Certificate of Sales - means the title is lost, and they have waited the time to get a title to sell it. here's the probelm it's hard to get a title for it and if the title owner comes around it's his / her car, so you lost your money.
usally just read it, it should have a discription of the info. take your time, breathe and REad
