Form VSA 58. Notification of Owner Retained Late Model and/or Water Damaged Vehicle - Virginia

Form VSA 58 - Notification of Owner Retained Late Model and/or Water Damaged Vehicle is used by insurance companies to notify the owner of a vehicle about salvage vehicle laws and procedures when the owner retains the vehicle from an insurance claims process. Vehicle owners also use this form to comply with DMV procedures for owner-retained late model and/or water-damaged vehicles. This form involves vehicle owners, insurance companies, and the Virginia Department of Motor Vehicles.

The form consists of sections for insurance companies to inform vehicle owners of the salvage laws and procedures when retaining a late model and/or water-damaged vehicle. It also includes sections for vehicle owners to confirm their understanding and compliance with the procedures.

Important fields in this form include the vehicle owner's information, details about the retained vehicle's damage or late model status, and a confirmation of understanding and compliance by the owner. This form helps ensure that vehicle owners are aware of their obligations and responsibilities when retaining a salvage vehicle.

An example scenario is an insurance company that has declared a vehicle as salvage but the owner chooses to retain it for their own purposes. By using Form VSA 58, the insurance company can notify the owner about the salvage vehicle laws and the procedures they must follow to comply with the DMV's regulations.

Additional documents needed to complete this form may include the salvage certificate and any supporting documentation about the vehicle's condition. An alternative form could be Form VSA 56A, which is used to apply for a Salvage Certificate for a Reconstructed Vehicle.