Write off value then self repair?
Discussion
My mate has an old car worth 3k private sale.
Just had minor bump that will prob cost £2k to fix.
Is one option to just submit a claim to ins, see what they say, assume they give him say £1200 to fix/write off, does that mean he can take that and get it on the road for the insurance valuation plus whatever else it needs?
Obviously he jumps through the ins Co loops - all legit, but prob best trying that instead of stumping up the (say) £2k to fix it?
Just had minor bump that will prob cost £2k to fix.
Is one option to just submit a claim to ins, see what they say, assume they give him say £1200 to fix/write off, does that mean he can take that and get it on the road for the insurance valuation plus whatever else it needs?
Obviously he jumps through the ins Co loops - all legit, but prob best trying that instead of stumping up the (say) £2k to fix it?
Edited by nobrakes on Tuesday 20th August 12:10
It does but it would forever more have a write off marker against it, and he'd have a claim on his record.
I had this when I had a cat nicked from my car. It could have been replaced with an eBay special, but I didn't have the tools or lift to do so and everyone who did would only put an OEM standard cat on. That cost more than the car so I tried a claim with the insurers as the initial call handler thought it would be covered and wouldn't result in a write off.
The car was written off because the cost to fix was too high, and they offered me £1550 cash or £895 & the car back. It needed a lot of paint to get it to where I wanted to get it, so I took the cash and put that into a better car.
I had this when I had a cat nicked from my car. It could have been replaced with an eBay special, but I didn't have the tools or lift to do so and everyone who did would only put an OEM standard cat on. That cost more than the car so I tried a claim with the insurers as the initial call handler thought it would be covered and wouldn't result in a write off.
The car was written off because the cost to fix was too high, and they offered me £1550 cash or £895 & the car back. It needed a lot of paint to get it to where I wanted to get it, so I took the cash and put that into a better car.
Not always, they can also offer money in lieu of having it repaired through them without writing it off if you want to arrange repairs yourself.
In my case this also came with the offer of reimbursing the VAT on provision of the invoice.
This may have been as the organisation they had price up the repair also stated they would provide a quote but wouldn’t take on the repair.
In my case this also came with the offer of reimbursing the VAT on provision of the invoice.
This may have been as the organisation they had price up the repair also stated they would provide a quote but wouldn’t take on the repair.
My 2005 BMW 330i got a tap in the rear at a set of traffic lights in May 2023.
The other driver wanted to settle privately, until I told him what a new rear bumper cover cost (about £650+ VAT in primer) so his insurer contacted me.
I took it to a bodyshop they recommended who padded their estimate up to over £2K and so they made it a Cat N a couple of weeks before they bothered to tell me!
After some discussion I got their valuation up to £2,240 and they deducted 22% as the salvage value for me to keep it - I assume 22% is what their contract with Copart or whoever dictates.
So I ended up with 50% of what I had paid for it 4 years before and a perfectly functioning car, albeit with a Cat N marker as Hastings wouldn't reconsider that.
The other driver wanted to settle privately, until I told him what a new rear bumper cover cost (about £650+ VAT in primer) so his insurer contacted me.
I took it to a bodyshop they recommended who padded their estimate up to over £2K and so they made it a Cat N a couple of weeks before they bothered to tell me!
After some discussion I got their valuation up to £2,240 and they deducted 22% as the salvage value for me to keep it - I assume 22% is what their contract with Copart or whoever dictates.
So I ended up with 50% of what I had paid for it 4 years before and a perfectly functioning car, albeit with a Cat N marker as Hastings wouldn't reconsider that.
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