Alternatives to Pay out for write off
Discussion
Today I found out that some insurance companies when agreeing to write off a car, can offer alternatives other than a cash value for your car.
For example they might offer you a very similar, or like for like replacement of a used vehicle matching as closely as possible to the one you've written off.
E.g. You had from new an Audi S4, in black, with sunroof and 20 inch alloys, xenon, 2 years old, 25k miles and the insurance company offers you a 2 year old, 30k mile, black S4 without xenons , or a blue one that matches the spec as otherwise stated.
I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
Is it just me? or would any one else not be too happy with that option?
For example they might offer you a very similar, or like for like replacement of a used vehicle matching as closely as possible to the one you've written off.
E.g. You had from new an Audi S4, in black, with sunroof and 20 inch alloys, xenon, 2 years old, 25k miles and the insurance company offers you a 2 year old, 30k mile, black S4 without xenons , or a blue one that matches the spec as otherwise stated.
I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
Is it just me? or would any one else not be too happy with that option?
Dynion Araf Uchaf said:
<snip>
I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
</snip>
What's the difference between the insurance co sourcing a replacement vehicle and you sourcing one direct after a cash payout? You've only got the sellers word that it's been equally babied. I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
</snip>
I'd be more bothered about who you'd pursue for a warranty / rejection issue. Is the seller the insurance co or where ever they got it from?
Collectingbrass said:
Dynion Araf Uchaf said:
<snip>
I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
</snip>
What's the difference between the insurance co sourcing a replacement vehicle and you sourcing one direct after a cash payout? You've only got the sellers word that it's been equally babied. I didn't know this was a thing, and whilst I can see some logic in that a like for like replacement should include the fact that the replacement car is the same age, I'd be a bit pissed off if my babied from new car was replaced with a car of unknown provenance ( even though it is the same in every other aspect).
</snip>
I'd be more bothered about who you'd pursue for a warranty / rejection issue. Is the seller the insurance co or where ever they got it from?
In the mid '80s I believe this became quite common, and it wasn't a case of being offered a like for like replacement as an alternative to a cash payout, it was take it or leave it for certain claimants.
Insurance companies got wise to a trend for relatively expensive cars that were hard to sell in an economic downturn being "stolen" and torched.
Yes Mr XR3i owner your car unfortunately get stolen and torched, here's another one of the same age and spec, we've put you back in the position you were in before the claim, except that we're not going to refund the £100 you bunged a mate to make it happen, because you haven't got a receipt :-)
Insurance companies got wise to a trend for relatively expensive cars that were hard to sell in an economic downturn being "stolen" and torched.
Yes Mr XR3i owner your car unfortunately get stolen and torched, here's another one of the same age and spec, we've put you back in the position you were in before the claim, except that we're not going to refund the £100 you bunged a mate to make it happen, because you haven't got a receipt :-)
Collectingbrass said:
What's the difference between the insurance co sourcing a replacement vehicle and you sourcing one direct after a cash payout? You've only got the sellers word that it's been equally babied.
I'd be more bothered about who you'd pursue for a warranty / rejection issue. Is the seller the insurance co or where ever they got it from?
It's more the fact that with money you can choose to buy a different make, or put it into a brand new car if that's what you want to do.I'd be more bothered about who you'd pursue for a warranty / rejection issue. Is the seller the insurance co or where ever they got it from?
It's less of an issue for Mr Average motorist, who's had his Kia Ceed written off, but if you've got something you value, and have spent time and money keeping it to the best of its condition then being offered someone else's car seems a bit crap.
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