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Write off
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
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
0
Comments
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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.0 -
Yes.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?
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.WaxiesDargle wrote: »If it passes an MOT and you decide to keep it do you have to pay back the insurance money?
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 it0 -
Thank you both0
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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.asp0
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