Write-off ?

[c a simpson]

My car, a T reg Citroen Saxo was involved in a major accident and I informed the insurance company who are arranging the inspection. I have spoken with the garage where the car was taken and their view is that its a write-off. If the insurance company tell me its a write-off and make me an offer, it may be very very low once they have deducted excesses, maybe just a few hundred pounds. At that point I could argue about the offer, but am I obliged to negotiate and accept an offer, or could I refuse their best offer and keep the remains of the car as I know I could get upto �1000 by selling off the alloy wheeks, CD sound system etc etc ?

[Sammy Snake]

When my car was 'written off' last year, I was given 3 options by my insurance company.

1) I could have the car fixed

2) I could have �900

3) I could have the car back unfixed and also have �600.

I took the second option, having an bashed car was no good to me, it would have cost me the �600 (and more) to mend it!  To someone like you however who can sell the bits, maybe they will offer you the 'car plus cash' option as well and you can take the cash and then sell the parts also.

[jake-the-peg]

There are 4 categories of right-off as I recall they are

A - total write off no part can be used as spares must be  crushed - normally vehicle fires

B - Total write off - spares can be salvaged but cannot be repaired (although I think this may be possible with a special license?)

C - Beyond economic repair - repairs would cost more than the value of the vehicle - can be repaired but Police are notified as they'd want to know why you're repairing it and check you're not ringing it.

D - Insurance company write off - repairs would cost more than 60% of the value of the vehicle - or insurance company have paid out and the vehicle has been recovered etc.

Depending on the category of the write off many insurance companies will allow you to retain the vehicle for a small consideration, after all it'll cost them to dispose of it - Mind you it'd then be your problem to dispose of what's left.

If you really fancy your chances in the used parts business that might be an option.

Personally I'd phone the claims department of the underwriers and talk to them about the alloys and stereo  etc. and what your options are. My wife wrote off a car last year and I found them very helpful - as opposed to the brokers who didn't know their behinds from their elbows.

[apex204]

In responce to andy hughes, most (reputable) insurers will give you the Market Value, which is the cost of buying the car from the dealer. What you are describing is the vehicles trade-in value, AKA "List Price". The difference can be up to 30% and in this case your insurance isn't worth the paper it's written on. In my opinion, you should never accept an insurer's first offer. If they are refusing to budge you should send in clippings of another Saxo, of similar age, condition and specification. This then proves to your insurer that the value they are offering is less than the marketable value of your car.

You can choose to "buy back" the car from the insurer, as when they write the car off they take possession of it. This will mean you have Sammy Snake's option 3, where you buy the car and have some change left over.

Also, why are they charging you an excess? Was the accident your fault?

[hedgehog661]

Did you tell the insurance company before hand of the modifications to the car. i.e non standard wheels, non manufactureres stereo. I have know insurance companies not pay out because of modification, you must notify of all modifications I trust you did.