Insurance Write off Valuation help please

foxy-stoat

When my £1500 Vectra was written off last year they let me buy it back for the sum of £102, so I think their salvage value is a little high your your car.

The dearest Sonata on the ebay at the moment is £1250 so if they are giving you £1300 less the excess then they wont pay you any more.

I would take the money, keep the car and buy secondhand parts to fix it, no point spending over £1000 on repairing if its just cosmetic, maybe buy a wing in the right colour for £40 and put the rest of the money in the bank.

foxy-stoat

d0nkeyk0ng wrote: »

Figured I'd hijack this thread instead of starting my own. If the insurance company declare it a write-off and I buy the car back as others have suggested to OP, will they still insure the car? Would I have to look elsewhere for insurance?

I'm in a similar situation where third party reversed into me. Damage is cosmetic but extensive (rear door, arch and bumper). Car is perfectly fine to drive.

My insurers insured the my Vectra straight away, they stated that they would only pay the scrap value of £102 until it was repaired if I was involved in another total loss accident, so I took photos of it after I repaired it for £120 with secondhand bits just incase. I expect them to offer a lower than market value if it was written off again though. Luckily the gearbox brokened a year later and I scraped it then so the car was a free-be for me in the end.

Some insurers get funny about it so best thing you can do is ask the claims department directly, they will probably speak to an underwriter to confirm what you need to do with your car.

sonjaday

AdrianC

Yes that's the car and the view from the rear is also good. The inside is elegant with dashboard and door rests in walnut veneer, it looks very smart. Even the repair garage mechanic came from behind and had to look twice to check what make of car it was. He mentioned that he thought it was a Jag, people say it all the time. We've been really happy with it, it's been a really good buy.

I think, though that you're being sarcastic, but I can take it

Sonja

AdrianC

d0nkeyk0ng wrote: »

Figured I'd hijack this thread instead of starting my own. If the insurance company declare it a write-off and I buy the car back as others have suggested to OP, will they still insure the car? Would I have to look elsewhere for insurance?

Depends entirely on your insurer.

You will have to declare in future that it's been written-off before - probably CatC. You'll also need to reapply for a replacement V5C, before you can tax it again.

Quentin

AdrianC wrote: »

Depends entirely on your insurer.
....You will have to declare in future that it's been written-off before - probably CatC. You'll also need to reapply for a replacement V5C, before you can tax it again.

Very few insurers even ask if the car has been written off previously, most aren't bothered at all.

foxy-stoat

Quentin wrote: »

Very few insurers even ask if the car has been written off previously, most aren't bothered at all.

Thats what I thought but double check the small print if your using compare the meerkats, as the last insurance I took out flagged up a cat C marker and the cheapest insurer didnt want to quote for it.