Write off

Options
WaxiesDargle
WaxiesDargle Posts: 1,062 Forumite
in Motoring
Hi

If a car is an insurance write off after an accident and they pay out..is it the insurance company's car after that?

If it passes an MOT and you decide to keep it do you have to pay back the insurance money?

it hasn't happened to me, I was just wondering really

Cheers

Comments

  • Aretnap
    Aretnap Posts: 5,215 Forumite
    First Anniversary Name Dropper First Post
    Options
    Generally speaking the insurer pays you the market value of the car, and what's left of it becomes the insurer's property. If you want to keep it and repair it yourself the insurer will sometimes agree to sell it back to you for scrap value, if the damage is not so bad that it can't be repaired safely.

    Passing or failing an MOT is irrelevant to whether it's written off. It's possible for a car to be written off for cosmetic damage which would not cause it to fail an MOT, especially if it's an old car with little value.
  • Quiet_Spark
    Quiet_Spark Posts: 1,093 Forumite
    Options
    WaxiesDargle wrote: »
    If a car is an insurance write off after an accident and they pay out..is it the insurance company's car after that?
    Yes.
    WaxiesDargle wrote: »
    If it passes an MOT and you decide to keep it do you have to pay back the insurance money?
    You don't get to make the decision as to whether you can buy the salvage or not, that is down to the insurance company.

    However if the insurance company do decide to make you an offer to buy the salvage back, it is normally a small percentage of the write off value.
    For example, they could offer you £1500 for the vehicle outright or £1200 and you keep the salvage.
    Understeer is when you hit a wall with the front of your car
    Oversteer is when you hit a wall with the back of your car
    Horsepower is how fast your car hits the wall
    Torque is how far your car sends the wall across the field once you've hit it
  • WaxiesDargle
    WaxiesDargle Posts: 1,062 Forumite
    Options
    Thank you both
  • Shaolin_Monkey
    Shaolin_Monkey Posts: 210 Forumite
    Options
    There are different categories of write off. For example a "Category A" write off should be crushed and is only of use for scrap metal. A "Category D" write off can be relatively minor damage that the insurer has decided will cost more to repair than the car is worth.

    It's worth noting any insurance write off on the history will seriously reduce the value of the car, even if it was purely cosmetic damage that has been repaired properly.

    Bit more info on the categories here - http://www.carpages.co.uk/motoring-news/car-insurance-write-off-categories-17-09-08.asp
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards