Claim or Salvage: You Decide!

Uniqlo

Last weekend I damaged my very cheap (~£500) Micra, had it towed to my house and now I'm wondering what to do next.

I'm fully comp with Admiral with a £250 excess, so it hardly seems worth making a claim as it will presumably increase my premium for 5 years.

Can I scrap the car at my own expense and just cancel my insurance (£700 for 10 months, with 4 months left to run)? Would I get a rebate if I cancel the insurance? Would I get a rebate for the road tax (paid up to Aug 2013)?

Thanks everyone!

forgotmyname

Was a 3rd party or property involved in the incident?

If there was they may inform their insurance or claim against you so you may not get a refund.

You can cancel the insurance, With only 4 months left you may get nothing back after adding on cancellation charges.

Road tax you can claim back unused months. No tax OR insurance then dont forget to keep it off the road and SORN it.

If they value the car at £300 you are making a claim for £50. Whats its true value?

Uniqlo

Thanks for your reply. No third party was involved. I will ring round auto recycle companies in the area tomorrow, as well as the council, to see what it costs to tow the car off the street and break it up. I don't know if I can get much for the parts but worth asking I suppose.

I looked at other 2nd hand Micras of the same age and mileage to get an idea of what I could expect from the insurers and they ranged in price betwen £400 and £800. I would say without prejudice that the true value of my car would tend towards the lower end!

securityman

Have a look in the local paper, loads in mine offering £150 plus for scrap cars.
Get the refund on you road tax.
It might be worth leaving your insurance to run so you get the NCB because you might not get much for 4 months or put it on hold if you getting a new car and change it over when you do.

DarrinLee

securityman wrote: »

Have a look in the local paper, loads in mine offering £150 plus for scrap cars.
Get the refund on you road tax.

What about the Insurance about that scrap car are they providing scrap car with insurance or I have to insure one?:mad:

zeon999

I would say defiantly don't claim it will end up costing you a fortune for the next 5 years having to tell insurance companies about your accident and claim, of which you will probley end up with virtually nothing by the time the excess is covered.

mcjordi

i wouldnt claim on a 400 quid car with a 250 excess.. you should see 120-150 scrap so better off scrapping it and leaving insurance to run to get the years no claims.