I'm thinking of purchasing an R-title vehicle from a friend. This is someone I know and trust; and I've personally inspected the car thoroughly. He bought it from a dealer specializing in R-title cars. The car was in a minor flood, but did not require much work according to the dealer. The car has no apparent rust, runs fine, etc.
The car is worth under $5k, so I'd only want to carry liability insurance on it, no comprehensive or collision. Am I going to have a hard time getting insurance on this car? Our insurer is Nationwide; I've been a customer of theirs for 20 years, and have many vehicles insured with them. (I'm not sure if my history with the company will make a difference).
Any advice is appreciated.