Getting full value for written off car

  • Thread starter eoinkennedy
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eoinkennedy

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Hi,

I was in an accident a few weeks ago, and as a result my car is a write-off.

The other driver was at fault, and both the gardai and the insurance company say so. We both have the same insurance company.

I got a value from the assessor on my car of €3800, which I agreed to.

Now the insurance company is coming back to me with a figure of €2600 from them and €1200 from a salvage company for the car.
On the insurance companies website, they say that if my car is a total loss, then they will cover its cost, and take care of disposing of the car. They now say that this is only in the case where I am claiming on my insurance, and that this is industry practice when the claim is against another driver.

My concern is that if I sign my car over to the salvage, then it may appear back on the road again after some repairs. I thought that a write-off was a write-off?

And if I do that I won't be able to claim my road tax back because I don't know if the car is actually being scrapped. The salvage company say that they will cover the remainder on the tax, but does this mean that I don't know what will happen to my car after I sign it over?

If anybody can advise, and tell me if this practice is correct, I would really appreciate it.

Thanks,
Eoin
 
you are getting the €3800.

make sure that transfer of ownership forms are completed BEFORE handing over wreck to salvage buyer, then all future responsibility is with him/her.

As regards car going back on the road, that is not your problem. car is probably Beyond Economic Repair, which means that it is repairable. If a Total Write Off, it would be scrapped and never put on the road again.
 
Your outstanding motor tax may or may not be included in your pre-accident value of €3800 - worth checking with the insurance company if you're unsure.

Some vehicles are called write-offs but are really beyond economic repair. For example, vehicle worth €3800 - to repair to previous standard with new parts, €5000. Salvage agents could buy the remains of the vehicle and repair and sell on but only if the vehicle is Catagory C, D, or E. If your vehicle is catagory B - it should not be returned to the road and is only fit for breaking.

From the way your post it worded, it would seem that the insurance company think you want to keep the vehicle. Thats why they have deducted the highest offer from your settlement.
 
No, I had nothing to do with the insurance company coming up with the 2600 figure.
I was just told on the phone that they found somebody willing to buy the car for 1200, and that was that.

I've since received the cheque from then for 2600, so the car is mine to do with what I want, I guess.

I'll be sending them in an invoice for 2 weeks worth of car hire, and telling them to cover the cost of storage in the garage since the accident.
 
you MUST minimise your losses. You need to get rid of salvage ASAP. if you do not sell salvage for €1200, you ned to be aware that the wreck will NOT appreciate in value, but will deprecate. you may not get €1200 for it in a few weeks/months time.

Also, insurer will not pay for storage ad infinitum.

do'nt be foolish.
 
Not much use to you in this case but if you are going to buy a new car you might consider this.I recently bought a new car and was offered V.R.I insurance.This means if for instance your car is written off after 1.5 years and at the time had depreciated by 10 grand you would receive the full value of the price at which you purchased.It cost €345 for two years and at first we were going to leave it as our insurance/tax/runningcosts were increasing but when we had a think about and realised it was costing less than 50 cent a day we went for it.Hopefully we will never need it but at least there is the piece of mind.
 
If you a good car insurance product it should include new for old for the first 12 months on new cars.
 
Thank for all the replies.

Sold the car for 200 more than insurance valued it at, to a salvage guy, so happy enough.
 
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