Thread: Question re Insurance Write Offs

Vlad,

I went through this about 18 months ago. I'm concerned about the "extras" on your vehicle. Most of my "extras' were declared and the insurance paid out on those - cheque direct to me.

However, I had to fight tooth and nail for the "extras" that were not mentioned on the policy. My son and I had gone to the wrecking yard and removed these - but the insurance company would not pay until I proved the "extras" were not original equipment and/or mentioned on the policy as "extras".

It was not a pleasant experience fighting the insurance company.

And then, after approving the claim they agreed that I could make an offer for the "extras" that were listed on the policy - which I accepted - I was able to buy back the "extras" at 50% of the insured value.

I hope things work out for you and you can purchase the wreck if it is written off.

Let us know how it goes.

Yep, worked for me once too.

You've been handing over the cash for your premiums for a while, so hit 'em up - whats to lose.

Good luck!

Hi Vlad

I've been down this road and know how you are feeling; sick in the guts.

I crashed mine on the beach as you know and i drove it home expecting I would be making a claim, getting it fixed like the meccano set it is and that would be that apart from embarrassment and loss of no claim bonus.

Well it sort of turned out that way but the assessor wrote it off and would not budge. We got the quote and it was $12k not allowing for chassis damage. Insured for $14 which was too close and that was that. They were very helpful about me buying the wreck, they got a quote from Pickles and sold it to me for that amount. It did not go for auction.

I rebuilt itusing second hand parts where necessary, did not even bother with the bonnet at all and basically came out of it cash neutral, well not exactly but I redid the clutch onand the timing belt and cooling hoses etc while the engine was out.

For me the issue was the crease in the firewall and the fear of chassis twist. If the firewall was not damaged then the engine would not have come out and so on.

Some people said, take the money, and buy a new one but this car I knew the history of. It was low milage, and it had lots of the $$$ gear attached to it that you mentioned you had. I had declared all my extras on the policy so i could not get around that- they owned the lot. So I rebuilt it and I think it was the right thing to do.

The worst part was waiting for the repairs, sending it over the pits, and knowing it is on the register as a written off car which would effect re-sale value (not that i will sell it).

Today I guess i am living happily ever after but I still see the daylight through the bottom front of the passenger door and i still see gap between the bonnet and front fender and I kick myself for being an idiot and curse my luck at creasing that firewall.

Oh and the insurance company told me to take my cheque and never darken their doorstep again. Company policy, a total loss and they show you the door. After 12 years and never a claim! Had no interest in getting any of their money back. I was a hoon and that was that.

If you have not done what I did and bent something har to get at, and no impact therefore no chassis damage - fingers crossed you will be ok, they will repair that's my prediction. But you're smart to prepare for the worst but remember you WILL eventually come out the other end with your car, relax on that count.


Good luck.

No love for insurance companies, been through this twice.

Last time car was stolen, paid out after three weeks or whatever the time limit is. Few weeks later the car was recovered, insurance company sent us off to police station to retrieve pretty much whatever we wanted.

Insurance company offered the car back to us at price they expected at auction - works for them, more money back if we buy it rather than having to do all the auction overheads. Didn't buy it back because I reckoned their wholesale price was too high, and I think it had a head gasket problem. Called the auction house after it sold and it went for close to what they offered it to me for.

If you know exactly what's wrong and right with it go for the buy back. In this case the insurance company was easy to deal with and straightforward. Other time it happened they paid me significantly less than replacement value, dudded me on prior damage, made me get rid of the wreck, and took money off because they 'gave' me the wreck. That's what happens when you are the victim in an old car without comprehensive.

Good luck with it.

Cheers
Simon

Mate, get two quotes from each of your chosen panel beaters. One to fix it privately with second -hand parts and the second for making an insurance claim. You will be surprised with the difference in quotes. My D1 was written off when it toppled over, only because the roof got damaged. From what I saw on Sunday, you could probably do it privately through a panel beater, priority being the windscreen surround, windscreen, door glass and rear canopy glass. The roof and door panel can be done in time, remember you drove it home....I assume it went ok.

Johann

Originally Posted by Tusker

There a few points here.

1. Dis you declare all the goodies? If not, it follows that aren't part of the insured risk. The goodies are yours not theirs.

2. If its a mainstream policy, you'll have to bid for it at auction I daresay. If the policy is with of the specialist/enthusiast brokers, then usually you have first rights over the "wreck".

Keep us posted.

Regards
Max P

Sorry Max...

Wrong and Wrong!

If you claim it, the vehicle, as it was at time of accident is the insurance companies.
They have the right to order you to put removed bits back on.
You are allowed to remove personal items only, like cds etc..., thats it.
I have personally seen this happen.... And know of other instances


As for buying back, even main stream policies have different options... Some will auction, others offer the owner 1st call...

Sorry to see the predicament you are in.
I know that in Vic the insurance companies have access to the Vicroads stamp duty register and will double check the stamp duties paid as against claims made.
Lets say I sold a Landie for $3,500 and the guy who bought it says to me, put $900 sale price on the vehicle reg transfer form to save me some duty.
If he insures the vehicle for market value - say $2,500 or lets say $4,000- you get the idea- and he then he writes that vehicle off and makes a claim, the insurance company will pay him out $900 as they will claim thats the value of the vehicle as thats what you paid for it.
Either that or he can fess up to fraud. Plus I can get into trouble for agreeing to it.
Regards,
David