insurance write offs

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Tills

Tills

Member
Joined
Aug 4, 2010
Messages
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Location
South Australia/Mount Gambier
A bit of a prick of a week end the good woman got rear ended in the old faithful magna, its only got third party property on it but the bloke who hit her is fully covered.
I have got one quote back for the repairs over $4500 nearly more than the car is worth the problem i have its worth way more than that to me.
If they write it off do I keep the car? since I am not insured with them or will they likely fix it I hope they fix it I dont need another new car insde twelve months.:hmmmm2:
 
depends on what the assessor says. if you are lucky they may write it off, let you keep the wreck and pay you out the market value of the car, minus what the assessor thinks they will get for it at auction.

happened to my mum about 12 months ago, she was rear ended, but she had no insurance at all. the guy who hit her had full comp. anyway, went on for about 4 months of crap but eventually they wrote the car off, she kept it, got a cheque for the market value minus what the assessor told the insurance co what he thought they'd get for it at auction... I can't remember who that was through though, but try and get the assessor on your side if you can.
 
They will write it off if its $4500 in damage depending on what model it is.if its early to mid 2000's they will write it off.You should have first option on where you want the car back or not.
 
Don't be suprised if they make you buy it back. With many policies once they pay you a value for the car they take ownership of it no matter what state it is in, that is what the money they offer is for. You should get an option to buy but given the way most policies are written it's to their discretion because they do have a duty of care with a written off car where they have to try and ensure it doesn't get back on the road. It will also be classed as a write off with the roads corp and getting it repaired and back on the road will be harder than normal, not impossible but harder.
 
scottybobcat said:
They will write it off if its $4500 in damage depending on what model it is.if its early to mid 2000's they will write it off.You should have first option on where you want the car back or not.
Click to expand...

Its a 98 so my chances arent looking good then I spoke to them and as you guys say its all up to the assessor I hope i know him.
 
My old car got written off, the NRMA didn't give me a chance to buy it back.

I went down to the auctions and the guy running the auctions asked this big Sydney wrecker not to bid on my car as we wanted it back.

1 other guy bidded on it but I bid a bit higher and he walked.

Stupid me helped my brother out, he fixed the car as he is a panel beater and then drove it into the ground pretty much.

What a waste of time.
 
Correct me if I am wrong but as far as I am aware you dont have to go through insurance. You can sue the person directly for the amount you think the car is worth. proving that figure is up to you but insurance is only looking after their hip pocket and dont care about you.

Same as if your in an accident where your not at fault your legally well within your rights to get a hire car of similar type to your own car and charge that back to the person who ran into you.Insurance will only go with market value and try to get out as cheap as possible.
 
You could sue the person if you really wanted although in a not at fault accident where the other party has insurance you don't get the choice of whether it goes through insurance. If they put it through insurance and their company and your company agree to the write off value all is good but if an agreement is not made you're fight is still with the insurance company so in many ways it's just easier to let your insurance company do all the court and legal things because when you're not at fault you get all your expenses paid for anyway. You can however sue for other reasons which would be more likely and profitable if they were proven wrong.
 
I also thought that the insurance "buys" the vehicle and ownership of said vehicle from you, and that you need to purchase the vehicle back from them. Also might be worth a look in SA, but i know in QLD there is a repairable write-off, and a statutory write-off, and as you can probably tell only the repairable may ever be repaired and returned to the road. Possible worth a look.

Mitch
 
one thing i dont understand is why only have property on the vehicle, i am not starting a $hit fight but if it was your vehicle that rear ended the magna, you wouldnt get anything at all for your vehicle nor have it repaired but with the cover you had, it would cover the magna to be fixed or written off and you would be out of pocket, i know not everyone can afford comp insurance but it is sometimes better to go with out something that isnt neccesary than lose a vehicle all together. I hope you get as many dollars as you can for the vehicle and dont always accept there first decision, they work off redbook the book of the devil that is a absolute joke.... have a look around for advertised vehicles of the same make and model and km see what they are selling for and minus about 2500 off the price and see what the final figure is,,, that should give a average of the market value for the vehicle or call a few car yards just enquiring the trade in price.... more info you have can help in one way to get a higher price if it is written off.... good luck champ
 
mitch92 said:
I also thought that the insurance "buys" the vehicle and ownership of said vehicle from you, and that you need to purchase the vehicle back from them. Also might be worth a look in SA, but i know in QLD there is a repairable write-off, and a statutory write-off, and as you can probably tell only the repairable may ever be repaired and returned to the road. Possible worth a look.

Mitch
Click to expand...

That's about the way most insurance policies sum it up. They own it, they make the choice and if they say it's not repairable they notify the roads corp of the VIN etc and supposedly the car as a complete unit can never be re-registered, but it can be brought and sold at the insurance companies discretion.
 
TurboGQ said:
one thing i dont understand is why only have property on the vehicle, i am not starting a $hit fight but if it was your vehicle that rear ended the magna, you wouldnt get anything at all for your vehicle nor have it repaired but with the cover you had, it would cover the magna to be fixed or written off and you would be out of pocket, i know not everyone can afford comp insurance but it is sometimes better to go with out something that isnt neccesary than lose a vehicle all together. I hope you get as many dollars as you can for the vehicle and dont always accept there first decision, they work off redbook the book of the devil that is a absolute joke.... have a look around for advertised vehicles of the same make and model and km see what they are selling for and minus about 2500 off the price and see what the final figure is,,, that should give a average of the market value for the vehicle or call a few car yards just enquiring the trade in price.... more info you have can help in one way to get a higher price if it is written off.... good luck champ
Click to expand...

The reason for the thrid party property is that it is cheaper but if I fully insured mine they would only give me market value $5000. So I save on my insurance and I am covered if I hit the Merc and if I can fix it for under five grand I am still in front with the car that I know.
 
I wrote my old mans car off 12 years ago. He got more for the motor and gearbox then he did from insurance payout.

Sell the parts and make some more cash. Magnas are clitoris cars, so you should be able to offload the parts
 
Mate of mine years ago brought a 2K jap import for his Corolla from the wreckers, put the donk in and wrote the car off a month later, the same wreckers offered him less money for the car as a wreck than he paid for the motor and the motor was about the only thing that didn't get wrecked in the prang. Buying and selling wrecks sometimes hurts more than the accident.
 
Ahh I have first hand experience on this topic from both sides of the fence. In point of fact I'm a member here now because some doofus in a Getz slammed into the back of my Forester. I called my insurance and told them about it then took it to their repairer who quoted the car up and it was subsequently declared a write off my insurer called me and offered me 5.5k (the glass's guide value) I told them to try again and that my policy said that if I disagreed then I had the right to have it reconsidered. The guy called back in less than 5 minutes and offered $6850 which I accepted.

I've had 2 accidents where I was at fault when I had the Maverick both times the other persons car was totaled, I had full insurance so they got their money pretty fast not sure how much though.

As far as the write off goes as a general rule if the value of the repairs is 75% of the fair market value of the vehicle then it's written off and paid out as not economical.

my 2c
 
Used to be 80% when the old man rolled his 11 month old Astra but that was a long time ago and both insurance agencies and policies have changed in that time.
 

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