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Post by jackyboy on Jun 13, 2018 6:29:21 GMT
Yeah could be worse.
So there you have it. There is justice in the world of car insurance!
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Post by NurseHolliday on Jun 13, 2018 8:53:51 GMT
Well lets just put it this way.. they didnt give me enough to repair the car! But they gave me more than i paid for the car! I don't understand, did you not have to buy the car back off the insurance company? So cheque - cost of buying car back = profit? Oh was the leftover profit not enough to pay someone to fix the car? It could be enough to fix it with 2nd hand parts? |
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Post by FFS Corders on Jun 13, 2018 12:37:33 GMT
From what I understand (in general terms, not specifically jackyboy's situation), they valued the pre-crash condition of the car and found that to be lower than the estimated repairs using brand new items
So the car is written off as uneconomical to repair and they send out a cheque for the value of the car pre crash
Then they set a cost of the car as it stands (scrap value probs) so it can be bought back off the insurance company
So the remainder of cheque minus buy back value is the "profit" but won't cover repairs because they wouldn't have written the car off if in the first place it cost less than the pre crash value to repair it
I'm sure that makes sense somehow lol
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Post by NurseHolliday on Jun 13, 2018 13:18:55 GMT
I thought it was a % below 100%? So car is worth £1,000 for example, repairs cost £750 (at everything new price and work done at a garage so £60/hour labour), so it's a write off because repairs cost 75% of value of car.
Cheque written for £1,000 (value of car before crash), value of car post crash is maybe £400, so £600 profit to get it fixed with 2nd hand parts and a bit of DIY?
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Post by FFS Corders on Jun 13, 2018 14:49:42 GMT
Sounds a bit more like it
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Post by jackyboy on Jun 19, 2018 9:53:36 GMT
Yeah basically the repairs would have been around 1500£ they said the car was only worth a fraction less of that So i bought the car back for 140 and received the rest of the money.
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ianc
New Here
Posts: 44 
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Post by ianc on Jun 19, 2018 10:20:50 GMT
Glad it's kinda sorted. Any plans for the repairs yet?
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Post by jackyboy on Jun 19, 2018 18:50:53 GMT
Hmmmm dent repairs or supercharger 🤔😂
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ianc
New Here
Posts: 44
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Post by ianc on Jun 19, 2018 19:56:22 GMT
Dent repairs I thought, if you need help getting it to Penarth give me a shout
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Post by jackyboy on Jun 20, 2018 22:12:30 GMT
Dent repairs I thought, if you need help getting it to Penarth give me a shout Its literally a couple of big dents mate. Cars fine. Im going to wales saturday but thats another story... |
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ianc
New Here
Posts: 44
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Post by ianc on Jun 21, 2018 21:31:48 GMT
Good, if you need to leave it there for repairs give me a shout, I may be able to bring you back.
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le sigh
Jul 15, 2023 20:03:52 GMT
le sigh
Jul 15, 2023 20:03:52 GMT