Insurance companies writing off classic car

[Deleted User]

pgilc1 wrote: »

It will be up to them to make it right in that they will opt to pay for its repair OR write the car off and give you market value for it.

I'm not totally sure how an agreed value policy would work, but presumably such a policy would be fully comp and thus pay out that agreed value. They would then presumably claim what they could back from the other party's insurance.

You're describing this car as a classic but you've opted to insure it under a regular insurance policy.

Also, i take it you told them it was a japanese import?

Yes, they know. And like I said - my policy doesnt matter the third partys policy is paying up.

Strider590

[quote=[Deleted User];discussion/2523513]
However, wont the car forever then be listed as written off and so impossible to sell in the future ???
[/QUOTE]

It's a "real" Mini, In good condition it'll sell until the cows come home...... Whether it's been written off or not.

[Deleted User]

Strider590 wrote: »

It's a "real" Mini, In good condition it'll sell until the cows come home...... Whether it's been written off or not.

Yeh. I know. But I dont want to be financially inconvenienced by some silly cow because of something that was blatantly not my fault.

vaio

Sorry to hear about the accident and I’d ignore the gloom & doom merchants on here.

If the car is something special and documented as such then, if it gets written off, the insurance company will pay what it will cost to replace rather than the “average value”.

I’d be tempted to deal direct with the TP insurers rather than Aviva (having experienced their customer contact system in the past).

The critical sentence is……

pgilc1 wrote: »

It will be up to them to make it right in that they will opt to pay for its repair OR write the car off and give you market value for it........

Which is spot on. The question of market value is easy given that you only bought it recently and given the damage you describe it’s odds on they will pay to get it repaired.

[Deleted User]

vaio wrote: »

Sorry to hear about the accident and I’d ignore the gloom & doom merchants on here.

If the car is something special and documented as such then, if it gets written off, the insurance company will pay what it will cost to replace rather than the “average value”.

I’d be tempted to deal direct with the TP insurers rather than Aviva (having experienced their customer contact system in the past).

The critical sentence is……

Which is spot on. The question of market value is easy given that you only bought it recently and given the damage you describe it’s odds on they will pay to get it repaired.

LOL. Otherwise the system is totally unfair aint it?

I guess if push comes to shove I could get an independent valuation anyway.

vaio

I wouldn’t bother with valuation at this stage given you only got it recently, I would have a drive around the local body shops and find some you are happy will repair it properly and get some quotes.

If it’s that special would you be happier with a specialist mini repairer given the delightful corrosion prone body work foibles that these cars have?

[Deleted User]

vaio wrote: »

I wouldn’t bother with valuation at this stage given you only got it recently, I would have a drive around the local body shops and find some you are happy will repair it properly and get some quotes.

If it’s that special would you be happier with a specialist mini repairer given the delightful corrosion prone body work foibles that these cars have?

Definitely want it done properly.

At the moment though, just happy to get it all sorted out without some nobhead deciding to write it off, offer me £500 and leave me £3000 out of pocket.

LandyAndy

Are you in the Mini Owners club or similar?

They will almost certainly have one or more valuation officesr in the club who provide values for agreed value insurance (I used to do it for TR Drivers).

Might be worth approaching them to help with an assessment of the value.

Hintza

OP what you probably really want is it written off at a value close to what you paid but retaining the car. You can the chose who and where to repair it.

Judas

You will receive market value for the car.
If you paid £3500 for it then surely this relates to market value otherwise why would you pay £3k extra?

If you paid £3k extra on the pretence it was a classic and then where too cheap to take out correct insurance well then tough.

You would in that case be out of pocket due to your own stupidity; why should a third party insurer or your own for that matter pay out far more than a cars value simply because you were too cheap to insure it properly.

I see your frustration but market value is market value and if you have paid far more than that then not taken out appropiate insurance that was frankly stupid and your own fault.