"Grumps" gurgled happily, sounding much like they were saying:
Who've you claimed off? Directly from the third party?
AIUI, there is a presumption that they should restore you to the position you were in. In practice, the cost of doing that may be way out of proportion or just plain impossible.
If you've claimed from your insurance, who are then dealing with the other driver's insurance, then the normal rules of your policy would apply.
Claiming from the 3rd party via my legal assistance. The claim hasn't been refused yet, but I estimate a grand or more and the car is worth about two and a half.
My guess is that if the cost of repair is greater than the value of the car, they will write-off the car and give you the value. On the asumption that you can buy a like for like car for the money. Whether they offer the correct value of course is another matter.
I assume you haven't got comprehensive insurance? Otherwise, you claim off your insurance and they will recover from the 3rd party.
It is comprehensive, but I've never needed to make a claim before, so don't know how it works.
"Grumps" gurgled happily, sounding much like they were saying:
Umm, so why the expectation that being written off will be on the cards?
"Grumps" gurgled happily, sounding much like they were saying:
If it's open-and-shut, then claiming directly off the third party is usually the best bet.
Because my wife worries a lot!
"Grumps" gurgled happily, sounding much like they were saying:
Oh.
Well, if there's a grand of damage to a 2.5k car, she can calm down a bit...
I had a grand worth of repair done to my car on somebody else's insurance a couple of years ago - and, at the time, my car was worth about the same.
Last year I managed to prang my wife's car by running into the back of someone else. It was a low speed impact (woman in front set off at a roundabout then stopped but I didn't) with nothing but a scratch to her bumper, whereas my wife's car looked like it should be given the last rites due to the crumple zones doing their job.
Insurers approved repairer reckoned car to be worth about £2,900 and it would cost about £2,500 to do the repair so they got on to the insurers who said yes, do it - and so it was repaired.
If you claim off your own insurance then the car may be written off; your contract with your insurance company will almost certainly state that they reserve the right to write it off if repair cost > 80% of 'market value' or similar. If you claim directly off the third party then there is no such contract in place, and I can't see how they can legally write the car off.
Of course. It would be stupid to spend 20,000 quid repairing a car worth
1000.
The third party can't write off your car, but they can deem it beyond economic repair and make an offer for the value of the car instead.
Its further complicated if one is approaching the third party insurer via a legal assistance organisation - since quite often their MO is to fund the repairs etc and also provide a hire car etc then claim the lot back from the the third party.
My R Reg car was hit by a lorry recently and the company insurers admitted liability .The repairs were initiated by my insurers starting with a new windscreen and his insurers sorted the hire car and bodywork repairs ...total must have been nearly £1500 which is probably twice or
2.5 times the cars value in £'s altho' it's worth a lot more to me as it's in good condiation .
Which is where it can unfortunately be a problem. Money is not always the important part. When a bus hit my wife's car some time ago they weren't sure whether to repair it or not, as it is a '95 Almera and worth very little - luckily they did, as it's in very good nick, with a genuine mileage of just under 40,000 and not only would it be very difficult to get a good enough payout on a car of that age for a similar replacement, but it also meant a lot to my wife, as it was her father's car and he gave it to her as he lay in hospital with terminal cancer.
SteveW
And further complicated again as some manufacturers have a scheme where they provide parts at discount in order to avoid a total loss. (Not sure of the motivation, but I know it happens. One example I was a little involved in recently was with Ford.)
Further, while there might well be a hire car provided, the car provided by a bodyshop whilst a car is being repaired is a genuine courtesy car provided by that bodyshop (not the insurer).
Steve Walker gurgled happily, sounding much like they were saying:
I'm sure if you want insurance to cover sentimental value, a specialist broker would be happy to provide a quote for a policy with that written in.
If you're relying on a normal policy from a mass-market big name to cover it, you're out of luck.
I've certainly seen agreed value policies, but I have a feeling no-one will be interested in insuring a car for more than it's true monetary value, in case you decide to write it off yourself to get the cash!
SteveW
If a car is worth more than the 'book' value, it could be argued you should have insured it as such. You do this with classic cars, which can be a very grey area. One minute just a banger next a classic. But arguing a banger is a classic when it comes to someone else paying out for damage won't wash if you've not insured it - and paid the extra - as such.
At what point does the car no longer have sentimental value? (I have an old banger with sentimental value)
If it has had 4 new doors, a new boot and a new bonnet it would be more like Triggers broom.
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.