Write Off?

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EdGasket wrote: »

Well what they are supposed to do and what happens in practice are different things then. There are loads of threads on here saying that the OP was offered 'book value' and they couldn't get an equivalent car for that amount.

thats mostly in cases where they have a low value vehicle, been found liable for the accident, and the high excess they have turns the vehicle payout to almost nothing with excess deductions or that the case is ongoing and the vehicle is being scrapped and excess plays a big part.

cars bought 0-4 months approx and written off in that time, the price paid for the car is deemed the market value for that car even if the market dropped for that particular make model second hand.

TBH insurers should put a panflet in their policy pack about FOS ruling in regard to insurance so they know their rights.

you are right, they do try it on, but ive heared of more cases where older cars are being bought for £500 and the write off value be around £900 or even above £1000.