Insurance companies employ the services of an assessor to put a PAV (pre-accident value) on a vehicle that is BER (beyond economic repair) but, they are put into different catagories when seeking salvage bids.
Cat A is a total loss ie: burnout.
Cat B is constructive total loss ie: head-on collision, vehicle rolled. Engine would most likely be only salvageable part.
Cat C would be repairable with second-hand spares and a nice mechanic!!
Bear in mind that the insurance company is not making money from your accident!! The salvage price helps to recoup some of the money spent on recovery, storage, assessor and claims investigator fees.
originally posted by Bond-007
If the Nissan owner was the wronged party and could prove the amount of money spent to purchase the vehicle with a sales receipt, the insurance company wouldn't have a leg to stand on if they decided to engage a solicitor.
The insurance company is obliged to TRY and put you back into the position you were in BEFORE the accident. But if your vehicle is uninsured - thats your problem - not theirs!
Cat A is a total loss ie: burnout.
Cat B is constructive total loss ie: head-on collision, vehicle rolled. Engine would most likely be only salvageable part.
Cat C would be repairable with second-hand spares and a nice mechanic!!
Bear in mind that the insurance company is not making money from your accident!! The salvage price helps to recoup some of the money spent on recovery, storage, assessor and claims investigator fees.
originally posted by Bond-007
In this instance, I wouldn't have accepted €16500 from the insurance company but without knowing the full circumstances, it's difficult to know whether this person had no choice. One reason to ensure that your sum insured reflects the replacement value of your vehicle in the market place!
If the Nissan owner was the wronged party and could prove the amount of money spent to purchase the vehicle with a sales receipt, the insurance company wouldn't have a leg to stand on if they decided to engage a solicitor.
The insurance company is obliged to TRY and put you back into the position you were in BEFORE the accident. But if your vehicle is uninsured - thats your problem - not theirs!