Information Write off value
- Thread starter ijedgar
- Start date
murdo
Admin Team
Do you mean the percentage calculation used for repair versus loss or the percentage they charge you if you want to buy it back?
I can't personally help on either with any firm knowledge however there is lots of information on the Web including these pages for the negotiations folks have with their insurers. Have you had a prang Ian or is this my premature senility at work on me again?
http://www.ukmotorists.com/insurance write off.asp
This is quite informative .
edit: Agree with Dave - a late TDI with low miles should be up to the 5k mark. Interesting chatter on the forums about increasing complaints about insurers valuing cars on trade as opposed to retail figures. I'd always thought you were supposed to be paid a fir price comensurate towgat it would cost to replace the car with a similar example ( no easy task if you keep a 50k mile TDI! )
I can't personally help on either with any firm knowledge however there is lots of information on the Web including these pages for the negotiations folks have with their insurers. Have you had a prang Ian or is this my premature senility at work on me again?
http://www.ukmotorists.com/insurance write off.asp
This is quite informative .
edit: Agree with Dave - a late TDI with low miles should be up to the 5k mark. Interesting chatter on the forums about increasing complaints about insurers valuing cars on trade as opposed to retail figures. I'd always thought you were supposed to be paid a fir price comensurate towgat it would cost to replace the car with a similar example ( no easy task if you keep a 50k mile TDI! )
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Birchall
Dick Chown Award 2016
The write off value would probably be dictated by an insurance company. If you are asking for a value on the car then i would say anywhere between £4,000 and £5,500.
Ta
Dave
I think that is a reasonable "spread".
The insurance company will aim for the lower end of that scale, but if you can prove that it was a particularly cared for example, then you should be able to push them up a little from their first offer.
Steve B
murdo
Admin Team
if it was in good pre accident condition and there is history to prove it's been looked after I'd aim for 5 grand. Whether they get anywhere near that is speculative but on my only total loss claim i settled on their 4th offer which was significantly more than the first. Bit of work involved copying documents and so forth but worth it in my view.
http://www.wisebuyers.co.uk/index.j...vip=241&yearplate=2005/05&mileage=50&x=46&y=6
There's the first bargaining chip. Not as accurate as CAP but a good starter.
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My previous A2 was an Insurance write-off. I purchased it from the Insurance Company for 8% of the write-off value (which was about £3000) So I had the vehicle for £240. I gained far, far more than
that for parts. Engine, leather seats, etc. I still have some parts, even now!
David
that for parts. Engine, leather seats, etc. I still have some parts, even now!
David
Thanks for that guys.
I have gone for an agreed value fully comp insurance policy for £5k cover with Adrian Flux for £213.
Hoping I will never have to use it.
A2`s like this are getting very hard to come by.
With the buying cost + doing the brakes,cam belt etc and having the leather/alcantara seats and leather handbrake,steering wheel and gear shift fitted it stands me at just under £7k now.
So looks like being a keeper.
I have gone for an agreed value fully comp insurance policy for £5k cover with Adrian Flux for £213.
Hoping I will never have to use it.
A2`s like this are getting very hard to come by.
With the buying cost + doing the brakes,cam belt etc and having the leather/alcantara seats and leather handbrake,steering wheel and gear shift fitted it stands me at just under £7k now.
So looks like being a keeper.
YorkshireHill
A2OC Donor
In my experience last year, the insurance underwriter looked up a figure from Glass' guide and offered £2500. When I produced an ad for the car (similar) I wanted to replace it with for £3500, the higher figure was agreed immediately. The buy back price was 26% of that agreed value however which appears to be the standard percentage.
In my case, perhaps there was more negotiation available on the write off value because I stated from the beginning I would be buying it back and they said the 26% could not be reduced?
In my case, perhaps there was more negotiation available on the write off value because I stated from the beginning I would be buying it back and they said the 26% could not be reduced?
murdo
Admin Team
In line swerve I suppose - however how does a fixed value policy work? I've been with the same broker since we bought the A2 however it might be time to consider a more specific policy now the old girl is of a certain age and I'd never replace like for like on a market value settlement.
Is there a depreciation factor on the agreed value and have you specified your modifications? Thanks
I have to send in photographs of the car to prove condition so they will obviously show the leather/alcantara seats etc.
There is no depreciation,the fully comp policy pays out the market value then the difference between that and your agreed valuation is paid out by the agreed valuation policy (both with the same firm Adrian Flux).I think the split was £187/£26
I have not specified the mods as they are all genuine Audi fittings that could have been fitted at any time in the past or indeed from new,however I have let them know of them.
There is no depreciation,the fully comp policy pays out the market value then the difference between that and your agreed valuation is paid out by the agreed valuation policy (both with the same firm Adrian Flux).I think the split was £187/£26
I have not specified the mods as they are all genuine Audi fittings that could have been fitted at any time in the past or indeed from new,however I have let them know of them.
YorkshireHill
A2OC Donor
I remember Timmus wrote a post about stating a fixed value last year