At what point is a vehicle written-off?
Discussion
Hi,
In terms of time frame when does a vehicle's status become written off?
Is it once vehicle value is agreed between insurance and claimant?
Once Copart collect the vehicle?
Once funds are transferred?
Once Copart auctions the vehicle itself?
I am asking because I have a vehicle on my trade policy which was in a collision, not my fault, completely third party. I would rather not have the vehicle on my policy once this procedure occurs (do not want this on my record in anyway), so I would like to remove the vehicle of my policy before this procedure happens.
Many thanks!
In terms of time frame when does a vehicle's status become written off?
Is it once vehicle value is agreed between insurance and claimant?
Once Copart collect the vehicle?
Once funds are transferred?
Once Copart auctions the vehicle itself?
I am asking because I have a vehicle on my trade policy which was in a collision, not my fault, completely third party. I would rather not have the vehicle on my policy once this procedure occurs (do not want this on my record in anyway), so I would like to remove the vehicle of my policy before this procedure happens.
Many thanks!
My car got hit in the rear a couple of months ago.
Third Party insurers admitted liability so I took it to their approved repairer for an estimate, and from what I can make out they put a Cat N marker on it before they told me it wasn't economic to repair it.
So it might have happened already!
Third Party insurers admitted liability so I took it to their approved repairer for an estimate, and from what I can make out they put a Cat N marker on it before they told me it wasn't economic to repair it.
So it might have happened already!
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