Insurance write off - how is market value set?

airbag sensors add a fair whack to the cost of repairs due to the special handling considerations they have.

ones that have been set off are usually cheaper to repair than those that havent providing theres no damage to the sub structure, damage to the sub structure means a write off 9 times out of 10 regardless of if the airbags went off or not.

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Originally Posted by isuzurover

Many insurance companies will write off a vehicle if the repair is over 1/3 the value.

Panel beaters will add a fair wack to any insurance quote, as they know it will take ages to get the money after they have done the job.

Your best bet would be to take the $4k, buy the wreck back, and fix it yourself.

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Again, good advice. There is 'insurance' available with some insurance companies to ensure you get your write off back at no cost to you and no admin dramas.

Think it's called something like 'salvage option' and costs me something like an extra $20 or 30 pa.

My 74 POS is now classed as a veteran car, the insurance valuation is going up every year but it is worth much more than the valuation to me if it was ever written off.

Horses for courses, just thought I'd let you all know about this option.

cheers, DL

It may be different here but I have just been through this with a company motorcycle. One option the insurance company might have (but might not want to tell you about) is "cash in lieu of repairs". In other words they want to write it off at $4000 as uneconomical to repair because of the $4200 quote so they give you the option to take the $4000 less excess and write it off or the option for them to be absolved responsibility for paying for repairs and they offer (generally) half the value in cash instead of paying any bills ie $2000 and you get the wreck plus some readies to bung at your own repair. Then it does not get written-off on the books also.