Companies now write off cars more than 4 years old rather than repair...
Had an accident just before Christmas and have been told that what we used to call a scrapyard would pick the car up and assess whether the car is repairable rather than take it to a bodyshop who will estimate the cost of repair. (i.e. presumption of write off first)
As car isn't that badly damaged I queried this and was told that the assessment is made by the scrapyard's engineer and they "negotiate" with you.
As the yard is only a couple of miles from me I rang them and their office bod told me that anything over 4 years old is normally written off whatever the damage is as the cost of parts etc is so high.
It appears that because there is a thriving "salvage" market the Insurance companies are balancing the cost of repair against the amount they can recover from resale value and total loss payout because everyone has to buy insurance.
Posted By: Ruttles on December 28th 2023 at 12:19:39
Message Thread
- WTAF is going on with car insurance? My renewal price is ridiculous x (n/m) (General Chat) - Nelsons final flanel, Dec 28, 11:44:13
- My cheapest quote was £2,500 (General Chat) - Kangol Canary, Dec 28, 16:33:01
- Jeez, what do you drive?! (n/m) (General Chat) - jamesward, Dec 28, 16:46:35
- My home insurance went up double (General Chat) - Charles21, Dec 28, 15:14:10
- Wage inflation, parts / new vehicle inflation, first hard motor insurance market for ages (n/m) (General Chat) - Azteca, Dec 28, 13:17:30
- My contents has just come through for renewal (General Chat) - Jester, Dec 28, 12:56:38
- Check the level of cover (General Chat) - Pam Demic, Dec 28, 13:56:11
- Mine was £292 last year. This year £640. (n/m) (General Chat) - Trent_Canary, Dec 28, 12:53:15
- Drive a Ferrari? (n/m) (General Chat) - Goosebumps, Dec 28, 12:39:16
- Companies now write off cars more than 4 years old rather than repair... (General Chat) - Ruttles, Dec 28, 12:19:39
- Happening to loads of people. (General Chat) - Pam Demic, Dec 28, 12:08:00
- FACT: insurance companies make a loss every year on UK car insurance (n/m) (General Chat) - jamesward, Dec 28, 13:08:50
- most .... (General Chat) - ghostof barry butler, Dec 28, 13:59:31
- Wow I’m astounded by that (General Chat) - Nelsons final flanel, Dec 28, 13:58:44
- Presumably the idea is then (General Chat) - Pam Demic, Dec 28, 14:16:20
- FACT: insurance companies make a loss every year on UK car insurance (n/m) (General Chat) - jamesward, Dec 28, 13:08:50
- My cheapest quote was £2,500 (General Chat) - Kangol Canary, Dec 28, 16:33:01
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