CatX write off - best settlement?
Discussion
My trackday 205 mi16 was stolen and recovered a few weeks ago. It has supposedly wiring loom and steering column damage and the door lock is gone.
Just had confirmation that the insurer wants to write it off as a Category X. Luckily I had an agreed value (3.5k) policy so no arguments on the offer... Except they're asking £1k if I want to buy the car back off them which seems pretty steep.
I don't want to see a good 205 off the road but fixing the car would be a pain but has anyone any experience of negotiating on a write-off buy back offer?
I've not been able to inspect the car myself yet, as its 100miles away and would need time off work but can't see how I can accept their first offer without seeing the car.
Do I have any rights in asking for the car to be moved somewhere closer so I can go see it?
Failing that, I can list the parts that I would want to strip off the car but they couldn't tell me how they would value the bits (roll cage/seats etc)
Any advice on making sure I get the best deal overall?
Cheers
MrChips
Just had confirmation that the insurer wants to write it off as a Category X. Luckily I had an agreed value (3.5k) policy so no arguments on the offer... Except they're asking £1k if I want to buy the car back off them which seems pretty steep.
I don't want to see a good 205 off the road but fixing the car would be a pain but has anyone any experience of negotiating on a write-off buy back offer?
I've not been able to inspect the car myself yet, as its 100miles away and would need time off work but can't see how I can accept their first offer without seeing the car.
Do I have any rights in asking for the car to be moved somewhere closer so I can go see it?
Failing that, I can list the parts that I would want to strip off the car but they couldn't tell me how they would value the bits (roll cage/seats etc)
Any advice on making sure I get the best deal overall?
Cheers
MrChips
Mods can u add a title please or merge this with the other thread I managed to create!Insurance co will have written the car off based on a report from one of their assessors, that same report will have a valuation of the car both before and after the theft, ask for a copy of the report and base your offer on the valuation . . . . I'd also include in your pitch the potential saving for them of not having to dispose of the car
Good luck
Good luck
Cheers Kinky 
I had asked for a copy of the report but they didn't seem to think it was possible to supply it. The parts on the car (that are easily removeable) are worth around 1-1.5k new, so I guess it's not a bad price to buy it back.
Does a catX show up on any subsequent car checks if I did eventually sell it on?
I had asked for a copy of the report but they didn't seem to think it was possible to supply it. The parts on the car (that are easily removeable) are worth around 1-1.5k new, so I guess it's not a bad price to buy it back.
Does a catX show up on any subsequent car checks if I did eventually sell it on?
bazking69 said:
Some insurers will be aware that you'll want the car back, especially on specialist policies for modified cars, hence will chance their arm.
Make them an offer, put the ball in their court to ponder.
Was about to say just this, the fact it's your trackday car, they will definitely assume you will want to buy it back. They won't get £1k for it so I would also put in a lower offer and call their bluff - £500?Make them an offer, put the ball in their court to ponder.
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