Car declared Total Loss - any advice?

gsf600y

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 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

paddyandstumpy

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.

PersianCatLady

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 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?

gsf600y

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...

PersianCatLady

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.