Role Reversal - Insurance Company want to repair, I want write-off...

Amflis

Opposite of usual situation but I have a rather elderly and was involved in a bump at the beginning of week. Garage estimated repair costs at around £2100 and recommended total loss so I assumed write-off. Insurance just advised they will authorise repairs. I am dumfounded best will in the world would value the car at around £2500 (1998 V70 XC 2.5T) Why? Anyhoo, can I request the cash rather than the car? Car is getting on and is likely to need some money spent on it in the next few months so I would rather ditch the thing?

Any experience or advice would be much appreciated.

Cheers

BruceyBonus

If the insurer were to write off the car then you would effectively make £400 - which means you are in a better situation than you were before the accident. Insurance is designed to put you back in the situation you were before the accident.

Icmeler

Hi

Depending on your insurance company the rule on a total loss vehicle is that the cost to repair is more than 60% of the value then the insurance company will write the vehicle off. I would speak to the vehicle engineer and ask why he is not writing the vehicle off. Failing that you can ask for a 'cash in leiu' settlement where they will agree a cash settlement with you, you keep the car and then its your choice to either scrap it or repair it.

Amflis

Thanks all. I am not expecting them to pay me £2500 - I had assumed they would make an offer around the £1500/£1800 mark then of course my excess needs to be dealt with too. I have spoken with the Insurer again and indeed the repairs are estimated at £2000 so presuming this means car is valued at around £3500 in their Db but not on this plant it ain't!

Thanks for the 'cash in leiu' information - if you can can you advise on the following: What % are they likely to offer on that type of arrangment? Also means they won't need to cough up for car hire. If they agree would I be responisble for recovery costs and storage at gargage?

dacouch

Bear in mind if they write the car off and pay you out they will try and retain the salvage which will be worth upwards of about £150, this may help you when negoiating with them.