write off...??

[MoonMonkey]

Is there a rule of thumb for repair cost v's market value of the car...?? I have it in my head approx 40% but have no idea where I got that from.

Just trying to work out whether the wifes A4 (worth about £4k) is going to be written off after an altercation last week :-(

[jezzashair]

Just had my car written off. Tends to be 60% for most insurance companies. They also think about the costs of administration and a courtesy car.

[MoonMonkey]

Ah, right you are. Didn't think about hire car etc. I think they will definately write it off then....

[kambites]

Obviously it depends on the absolute value of the car to some extent (because some costs associated with a claim are not dependent on the cost of the repair) but on a cheapish car like that, around 60% sounds believable from my experience.

[MoonMonkey]

Thanks for the replies guys.

We have just had a call from the repair centre to say they have just had authorisation to proceed with the repair. They have sent me the estimate and the cost to repair is £3,600...

As suggested above I would only probably value the car at £4k and due to the extent of the damage I'm not really sure we want it back at all. Plus it will take another month to repair..!!

Just to add the third party has now admitted liability apparently

[MoonMonkey]

Update:

Picked the Audi up last night after nearly 3 months in the repair shop. Final bill to repair was well over £4k as it also needed a new sill in the end. The fkers in the shop have also managed to damage the drivers side wing so it needs to go back to get that sorted at their cost

The hire car also went back and by my estimation based on the daily rental charge has cost the ins co at least £7.5k. I still think they should have just written it off. No wonder insurance costs are increasing. Utter madness.

[cheadle hulme]

My neighbours 02 plate Corolla disappeared around 2 months ago. Turns out it was in an accident and is now being repaired. She has been driving around in an A class and now a Scirocco TSI.

I have no idea how the numbers work on these type of claims. Can only assume that her insurance company are getting commission from the bodyshop and the hire company and the third party foots the bill.

[The Wookie]

MoonMonkey said:

Update:

Picked the Audi up last night after nearly 3 months in the repair shop. Final bill to repair was well over £4k as it also needed a new sill in the end. The fkers in the shop have also managed to damage the drivers side wing so it needs to go back to get that sorted at their cost

The hire car also went back and by my estimation based on the daily rental charge has cost the ins co at least £7.5k. I still think they should have just written it off. No wonder insurance costs are increasing. Utter madness.

Worth noting for next time (if you have one) is to talk frankly to your assessor and say you'd rather have the car written off if the damage is substantial. Repair shops have been known to give them the yarn that 'it's the owner's pride and joy, and he said he'd do anything for it not to be written off'.

[Superhoop]

MoonMonkey said:

The hire car also went back and by my estimation based on the daily rental charge has cost the ins co at least £7.5k.

You think the hire cost 7.5k for 13 weeks, or the total cost of repair inc. hire car was 7.5k?

Insurance companies have deals will all of the major hire companies, and probably pay no more than about £21 - £25 per day.

If the car is one owned by the insurance company, it only costs them the depreciation

[Mr Whippy]

The Wookie said:

MoonMonkey said:

Update:

Picked the Audi up last night after nearly 3 months in the repair shop. Final bill to repair was well over £4k as it also needed a new sill in the end. The fkers in the shop have also managed to damage the drivers side wing so it needs to go back to get that sorted at their cost

The hire car also went back and by my estimation based on the daily rental charge has cost the ins co at least £7.5k. I still think they should have just written it off. No wonder insurance costs are increasing. Utter madness.

Worth noting for next time (if you have one) is to talk frankly to your assessor and say you'd rather have the car written off if the damage is substantial. Repair shops have been known to give them the yarn that 'it's the owner's pride and joy, and he said he'd do anything for it not to be written off'.

Yeah, it does make you wonder how much these large 'approved' repairers would prefer work to writing off cars, even if it means they take a cut on pay out and do a stty job!



Personally if it's more than a panel or two being bent I'd prefer a/my car to be written off. If someone else wants it, then they can get it from an auction and fix it, so no loss to the insurer who can sell it on to make up the difference for my payout I guess?!

Resale becomes hard if it's had big/ger repairs as people spot it, and if you plan to keep it the stty repairs can often bite you in the arse later with rust/paint issues years down the line.

Great for people who don't give a crap I guess.

[Somnophore]

If the car was provided on a credit hire basis chargeable to te TPI that would be at higher GTA rates

[Aviz]

When my Dad's lexus was smashed into by a motorbike with no rider (he was busy scraping his face along the tarmac further down the road), they provided a courtesy car, but it had no towbar, which he needs for his business. The ins co ended up hiring a shogun from somewhere. I saw the invoice, and it was £395 per day!!!

He had it for 3 months (i'm not sure if it was £395 pd for the whole period), as they couldn't get parts for the lexus. I guess the lexus was worth about 6k at the time, and the repair bill came to 11k without including the hire costs (Must have been 5 figures)

Edited by Aviz on Wednesday 28th April 14:33

[MoonMonkey]

Superhoop said:

MoonMonkey said:

The hire car also went back and by my estimation based on the daily rental charge has cost the ins co at least £7.5k.

You think the hire cost 7.5k for 13 weeks, or the total cost of repair inc. hire car was 7.5k?

Insurance companies have deals will all of the major hire companies, and probably pay no more than about £21 - £25 per day.

If the car is one owned by the insurance company, it only costs them the depreciation

The car was provided by drive assist and was a virtually brand new BMW 318d msport touring. Cost per day on the rental agreement was £80'ish / day.....

For info we spoke at length with the ins co saying that we would rather the car was written off but they were adamaent it was worth repairing and wouldn't take no for an answer. The bodyshop manager said he was surprised they had authorised repairs - so he told us anyway.

What is also utter madness is that with it being a non fault claim all costs are recovered from the other parties insurance which just so happens to be the same company we're insured with...!!

[Mr Whippy]

Aviz said:

When my Dad's lexus was smashed into by a motorbike with no rider (he was busy scraping his face along the tarmac further down the road), they provided a courtesy car, but it had no towbar, which he needs for his business. The ins co ended up hiring a shogun from somewhere. I saw the invoice, and it was £395 per day!!!

He had it for 3 months (i'm not sure if it was £395 pd for the whole period), as they couldn't get parts for the lexus. I guess the lexus was worth about 6k at the time, and the repair bill came to 11k without including the hire costs (Must have been 5 figures)

My dad had the same, hire cars for business needs (farmer) were stupid. 3.5t towing capability + awd etc etc, was some stupid amount for the hire vehicle... about 4x more in total than his car was worth by the time he got a replacement!

It does make you wonder if there is some pressure from approved repairers/hire co's to allow these issues to be drawn out as long as possible, since ultimately it is the insurers profit margin that must get the hit?! Ie, if it's not a big claim, then it's money in their pocket?

Dave