Car written off

A

andrea

Registered User
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43
Hi All,
More on the crashed car scenario. Insurance company have written it off as it would cost too much to fix and are sending me a cheque. A panel beater friend said the damage was repairable as a nixer (lights smashed, panels dented).
Insurance company said they can pick it up, anyone know my best plan of action? should I say ok and let them or try to sell it on to a breakers or indeed get it fixed as a nixer and sell it on. Am I (legally) allowed to do that once the ins. co. send out the cheque?

thanks,
andrea.
 
Andrea,

Unless you have already negotiated the settlement based on retaining possession of the car, then once you accept the cheque they (the insurance company) own the car and can do with it as they wish.

It is sometimes possible to agree a deal where you retain the salvage and they pay you the difference between the salvage value and the pre accident value of the car, but you would probably have had to mention this from the start.
 
Andrea,

I was in a similar situation, and I requested to keep the car and was allowed. I doubt the Insurance company would automatically own it or even want it as they would have to pay or arrange for its disposal.

If you fix it sell it immediatley (telling new owner of history).
 
smcgiff said:
Andrea,

I was in a similar situation, and I requested to keep the car and was allowed. I doubt the Insurance company would automatically own it or even want it as they would have to pay or arrange for its disposal.

If you fix it sell it immediatley (telling new owner of history).
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Once they have paid for the wreck they own it.
 
RS2K said:
Once they have paid for the wreck they own it.
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So, you could charge them for storage if they don't come and collect it from your drive? Do they request you fill out a change of ownership form? I dont think so.

Even if that were the legal position, I'd imagine the Substance of the transaction would take precedence over the Form.
 
i thought that if the insurance write off the car you are not allowed to 'fix it and sell it on' as it will already have been registered as written off?
 
smcgiff said:
So, you could charge them for storage if they don't come and collect it from your drive? Do they request you fill out a change of ownership form? I dont think so.

Even if that were the legal position, I'd imagine the Substance of the transaction would take precedence over the Form.
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No and no. The car is written off and it will have been assessed away from your home.

Change of ownership form is not req'd.

I have seen this many many times.
 
grizzcol said:
i thought that if the insurance write off the car you are not allowed to 'fix it and sell it on' as it will already have been registered as written off?
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You can buy back the scrap if you wish. It's up to you what you do from that point on.

An insurance w/o is an economic issue - essentially they are saying it's not worth fixing.

Many wrecks can however be repaired using perhaps used panels and parts.
 
RS2K said:
I have seen this many many times.
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There was I thinking insurance companies were in the business of ... insurance.

No way do insurance companies want to take ownership of crashed cars. That's the whole reason of paying off the wronged party.
 
You are 100% wrong on this and I couldn't be bothered arguing any further.

Contradiction wins no arguments.
 
The assessor will normally conduct his examination of the car at a garage. The garage will usually organise through the trade an offer for the car.

So the insurance company, while indeed taking ownership for the car, typically don't move it from the garage. It is typically sold on at salvage value.
 
I claimed on my Insurance when my van was stolen and before they would pay out for it I had to return the van keys and tax book. If the Insurance Co. thinks your car is a write off - why would you think its ok to put it back on the road?
 
The car can be an econcomical write off so that its roadworthy but body damage repair costs puts it past the actual cost of repair, as Id said, Id been told it could be repaired on the cheap if I wished using old panels and finding parts where I could.

When the the assessor came out he looked at it in my place of work.

Yesterday it was collected by a guy with a big truck with "car breakers" written on the side. He didnt ask for the log book or tax.
 
I think the point to be made on a website such as this is that if you request from the insurance company (after recieving the initial cheque) that you keep the car, it is possible (I would have said probable, but that is only circustantial) that you will be allowed to keep it.

This is what happened in my case.

Bear in mind when a car is "written off" by an insurance company it is very unlikely, even with fully comp, you will receive an amount which you think the car is worth.
 
An example for you to think about. A 2003 Nissan Almera purchased for €21000 on a Saturday was written off 3 days later. Insurance only paid out €16500.
 
bond-007 said:
An example for you to think about. A 2003 Nissan Almera purchased for €21000 on a Saturday was written off 3 days later. Insurance only paid out €16500.
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It used to be the case that if you can't agree on a price you can request that the insurance company supply you with a replacement car equivelant to the one that was written off. They would soon realise that €16500 wouldn't be enough and up their offer.

Perhaps this is now excluded for modern policys though!!
 
bond-007 said:
An example for you to think about. A 2003 Nissan Almera purchased for €21000 on a Saturday was written off 3 days later. Insurance only paid out €16500.
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For future ref. Some insurance companies will replace damaged car with new if the car is w/o within first year from new.
 
Dusty said:
Perhaps this is now excluded for modern policys though!!
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Still available through Axa, as is the replacement car for a new car w/o within the first year (at least both are according to information provided, never had to use either). Not sure how widespread it is though.

Is there any steps which can be taken if the insurance payout is coming in very low (pre-accident value far less than current market value) ? It seems to be a very common problem and one I've never heard anyone resolve to satisfaction.
 
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