ChatterBank3 mins ago
What if my car is an insurance write-off?
The other night some speeding berk ploughed into the back of my parked neighbours car, which was propelled into mine, which was shunted into my wifes. My neighbour's is a write-off, and there's a strong liklihood that mine will be too (I'll find out for definite in the next couple of days).
Everything's going through fine with the insurance (he didn't do a runner), but say that it is considered a total loss, what am I likely to get for my car return-wise, considering that it was not only a great car for me and I got a superb deal when I bought it, but it was quite new, in perfect nick, full dealer service history etc? ie. will I get the market value, or what it would cost me to buy an "identical" replacement, or will they offer a paltry sum and I'm likely to lose out financially? This is new territory for me, so if anyone's been in a similar situation....
Thanks!
Everything's going through fine with the insurance (he didn't do a runner), but say that it is considered a total loss, what am I likely to get for my car return-wise, considering that it was not only a great car for me and I got a superb deal when I bought it, but it was quite new, in perfect nick, full dealer service history etc? ie. will I get the market value, or what it would cost me to buy an "identical" replacement, or will they offer a paltry sum and I'm likely to lose out financially? This is new territory for me, so if anyone's been in a similar situation....
Thanks!
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.you should be offered enough to buy another car to the same spec. and condition as the total loss. however its negotiable and they are likely to offer less than you think but this is not always the case. it will be your job to prove the value if you think the offer is low, a lot depends on the underwriters. in my experience Admiral group are among the meanest
When I had a motor bike written off a few years ago, the insurers offered a very low amount in settlement. I rejected their offer and sent them copies of adverts in Bike Trader magazine showing similar models with similar mileages, condition etc.
The insurers upped the offer to a more reasonable one.
My suggestion is to buy something like Auto Trader for comparable adverts and be prepared to haggle.
Not sure there is much between any insurance company in terms of what they want to pay out.....
The insurers upped the offer to a more reasonable one.
My suggestion is to buy something like Auto Trader for comparable adverts and be prepared to haggle.
Not sure there is much between any insurance company in terms of what they want to pay out.....