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Car Insurance Write Off Help

Hi, this morning on my way to work I lost control of my car on a back road and it ended up in a tree. The company who were sent by my insurance to pick up my car have said it's a write off. So was just wondering will I get the full amount for the car? The current valuation on my insurance was 6 months ago when I bought the car and renewed my insurance. Thanks for the help

Comments

  • keith1950
    keith1950 Posts: 2,597 Forumite
    1,000 Posts Combo Breaker
    Hi, you should get the current market value....have a look in the autotrader and see what equivalent models are going for .
  • InsideInsurance
    InsideInsurance Posts: 22,460 Forumite
    10,000 Posts Combo Breaker
    tomo25 wrote: »
    Hi, this morning on my way to work I lost control of my car on a back road and it ended up in a tree. The company who were sent by my insurance to pick up my car have said it's a write off. So was just wondering will I get the full amount for the car? The current valuation on my insurance was 6 months ago when I bought the car and renewed my insurance. Thanks for the help

    You will get the value of the car immediately prior to the accident net of your excess unless you are one of the 0.0001% who have undervalued their vehicle and even then many Motor insurers still pays out the actual value.
  • keith1950 wrote: »
    Hi, you should get the current market value....have a look in the autotrader and see what equivalent models are going for .

    I've had a look and there around a similar price I paid 6 months back give or take £100
  • Aretnap
    Aretnap Posts: 5,879 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

    Note that you may get a bit less than you might expect from looking at ads in AutoTrader - those are the advertised prices, not necessarily the prices the cars actually sell for. Also note that your excess will be deducted from the valuation.
  • You will get the value of the car immediately prior to the accident net of your excess unless you are one of the 0.0001% who have undervalued their vehicle and even then many Motor insurers still pays out the actual value.

    I put down the price I paid for the car
  • vaio
    vaio Posts: 12,287 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    the link in post #5 is worth reading, remember you should get retail replacement value so you can do to a dealer and buy a replacement
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