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Car declared Total Loss - any advice?

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Car declared Total Loss - any advice?

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
4 replies 977 views
gsf600ygsf600y Forumite
60 posts
edited 30 November -1 at 1:00AM in Insurance & Life Assurance
So, rear wheel arch has been crumpled a bit by another driver, their fault. Car is fine, perfectly drive able.

The insurers (Admiral) passed me to Auxillis, their 3rd party for managing this stuff.
Auxillis send me to a local repair place, who quoted £3800 for the repairs (seemed very over-inflated to me, looking at the damage).

Due to the high repair cost, it's been decided (not quite sure by who) the car will be declared a total loss, Category N, non-structural.

Auxillis have further farmed out the valuation of the vehicle to Acorn Assessors. They have valued the car at £5.4k, which seems to be about right from what I can see looking on Autotrader, and have offered me £4.7k from Auxillis, + an additional £700 from the salvage agent.

So
option A) Keep the car, take £4.7k, and live with the (cosmetic) damage.
option B) take the £5.3k, and get a replacement 2nd hand car.

My current thinking is I'll take the £4.7k, and keep the car. The damage is mostly cosmetic, so I can live with that, and I know the cars history and know the mileage on it is mostly long cruising commutes.

What I'm worried about though is:
1 - when insurance renewal time comes, insuring a Total Loss car could be problematic, and cost me more.
2 - when insurance renewal time comes, my non-fault accident will cost me more.

Anyone got any general advice or tips on what I should do?

Thanks :)

Replies

  • paddyandstumpypaddyandstumpy Forumite
    1.4K posts
    Seventh Anniversary 1,000 Posts Name Dropper
    ✭✭✭
    Unless you're asked the question about a written off car you don't need to volunteer it. And a cat N should be fine to insure anyway.

    You can see the impact of a non fault claim by doing dummy quotes with and without the claim.

    If you know your car and you're happy with the settlement, take the money and keep the car.
  • gsf600y wrote: »
    So, rear wheel arch has been crumpled a bit by another driver, their fault. Car is fine, perfectly drive able.

    The insurers (Admiral) passed me to Auxillis, their 3rd party for managing this stuff.
    Auxillis send me to a local repair place, who quoted £3800 for the repairs (seemed very over-inflated to me, looking at the damage).

    Due to the high repair cost, it's been decided (not quite sure by who) the car will be declared a total loss, Category N, non-structural.

    Auxillis have further farmed out the valuation of the vehicle to Acorn Assessors. They have valued the car at £5.4k, which seems to be about right from what I can see looking on Autotrader, and have offered me £4.7k from Auxillis, + an additional £700 from the salvage agent.

    So
    option A) Keep the car, take £4.7k, and live with the (cosmetic) damage.
    option B) take the £5.3k, and get a replacement 2nd hand car.

    My current thinking is I'll take the £4.7k, and keep the car. The damage is mostly cosmetic, so I can live with that, and I know the cars history and know the mileage on it is mostly long cruising commutes.

    What I'm worried about though is:
    1 - when insurance renewal time comes, insuring a Total Loss car could be problematic, and cost me more.
    2 - when insurance renewal time comes, my non-fault accident will cost me more.

    Anyone got any general advice or tips on what I should do?

    Thanks :)

    Have Auxillis agreed that you can do this, keep the car and get £4,700?
  • Thanks both.

    Yes, Auxillis have confirmed the £4.7k will be paid if I chose to retain the vehicle.

    My view of this is, whilst I continue to depreciate the value of the car for several more years, I've effectively secured the cash for the value of it today.

    Although, £4.7k minus £200 a year (or whatever) extra insurance costs...
  • gsf600y wrote: »
    Thanks both.

    Yes, Auxillis have confirmed the £4.7k will be paid if I chose to retain the vehicle.

    My view of this is, whilst I continue to depreciate the value of the car for several more years, I've effectively secured the cash for the value of it today.

    Although, £4.7k minus £200 a year (or whatever) extra insurance costs...

    Personally I would keep the car then especially seeing as the damage is merely cosmetic and you know the history of the car.

    Shopping around for a decent second hand car is such a minefield.
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