Copart - Is that a RIP?
- Thread starter Gimpymoo
- Start date
Don
Insurance exists to put you back in the position you were pre-incident. It's irrelevant what Copart think it's worth, it should be your insurer providing you with a settlement figure.
Valuations are one thing (in the same way that you putting an estimate value on your policy are another), but being able to buy another vehicle for that money is another. Ask your insurer to provide examples of vehicles that can be had for the price they are offering.
Surely it should be your insurer offering you a settlement figure? In the same way that had it been repairable, the insurer wouldn't necessarily be telling you the repair cost, just that it was being repaired?Had a call from Copart this morning.
They confirmed the bike is a CatB write off
They offered £1650.....
The second hand vehicle market is bonkers full stop, which is where the discrepancy between valuations and available vehicle pricing is going to be an issue.
Valuers use e.g. Glasses price guide and the like, which aren't necessarily "live" with regards to the day-to-day market changes.
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Parts can be salvaged though.
I agree though, have asked if they can provide a copy or at least a summary of the report.
I can only assume the frame/chassis was damaged.
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To an extent, ask them for the 3 independent valuations and decide from there.
Your policy will likely have a betterment clause and basically thats going to cap your claim at ~2k due to your purchase price of the bike.
Have been offered £2,200.
Co-part seemed upset when I asked for £2400 so told me to clear off and dispute with insurers.
Insurers were really chill, they said we can dispute but in the meantime, they will pay the £2,200 anyway so I went with that. They confirmed is not full and final settlement but tides me over till dispute is finalised.
Even if that is it, I get £2,200 towards big bike which is more than p/x value and equals my original purchase price and excess so although low valuation by current market values, I am only out of pocket by premium increase owing to claim being made.
Co-part seemed upset when I asked for £2400 so told me to clear off and dispute with insurers.
Insurers were really chill, they said we can dispute but in the meantime, they will pay the £2,200 anyway so I went with that. They confirmed is not full and final settlement but tides me over till dispute is finalised.
Even if that is it, I get £2,200 towards big bike which is more than p/x value and equals my original purchase price and excess so although low valuation by current market values, I am only out of pocket by premium increase owing to claim being made.
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Don
Fairly sure this isn't a circumstance where a betterment clause applies.
How does an insurer know what the vehicle purchase cost was? What happens if you insure someone else's vehicle and aren't the owner? What happens if someone gifts you a vehicle?
Betterment clauses apply to either pre-existing damage, or things like consumables when a repair or claim is done.
E.g. if someone scrapes your car, but you choose not to make a claim, you should still inform your insurer and they will note the damage. If you are involved in a further incident then they will not repair the previously declared damage.
Similarly if a new tyre is required as part of a repair, but all the existing tyres are all due replacement anyway, they may reserve the right to recoup costs for this, due to potentially putting your car in a better state than it was.
Insurance exists to put you back in the position you were pre-incident, not to get you an upgrade to a better vehicle, or to force you into a worse situation.
If market prices for vehicle increase (as they have), then that's the insurer's problem (and they likely will recoup that via increases in premiums)
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By the time they sort the dispute, I know the examples I have will no longer be available so I will be taking screenshots 
VFR800.
Obsessed with them. Ok for commuting and great for touring. Want to go Wales, Scotland and France camping on the bike.
A nice "First Big Bike" I think but not "generic".
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Man of Honour
I was eyeing up the vfrs before I ended up with my cbr1100, there's definitely something about them.
Soldato
Copart basically are the biggest salvage operation going, they have bought up all the salvage yards, and all the stuff they take off insurance co's will end up at auction. Catb's can only be sold to breakers who have a license, it cannot be put back on the road.
when i was in the trade doing salvage for a living i had to register the business and give 2 trade references and a vat number......with co part all they want is the 60 pound registration and then when i didnt send it to the by 2 weeks they dropped it to 30 pounds ....says a lot.
thankfully i dont do it now but a lot of co part salvage is just bought and flipped through facebook/gumtree lol buyer beware.
Soldato
They have a monopoly so they can take the wee wee. But most people who complain, are typically a bit wet behind the ears, you are buying a salvage, and esp if you buy a private entry then you only have yourself to blame, theres a very good reason why a private bod would put a car through copart and not the usual channels.
My dad did salvage for years, unless you can inspect the cars in person its just not worth the risk unless you are flippin loads of cars.
My dad did salvage for years, unless you can inspect the cars in person its just not worth the risk unless you are flippin loads of cars.
Soldato
Lots of 'bits' went missing when copart recovered my bike.... 
I’ve had a VFR800 vtec for the last year, so far put about 3000 miles on it. It’s a fantastic bike and I love the engine. Just bear in mind it is a heavy beast and will feel quite heavy compared to a 125.
Obviously once moving the you can’t really feel the weight. The only thing I don’t like about it is the riding position. That’s because I’m now getting older lol and due to previous injuries my neck gets a bit sore on it.
What is the riding position? I thought it was more upright?
Sports tourer so you are leant forward a little. Not as extreme as a sports bike but you still have some weight on your wrists.
After I declined Coparts initial £1650 valuation and further valuations upto £2200, Copart told me to deal with my insurer, Markerstudy.
They have been super easy to deal with.
They rang me yesterday, agreed the Copart valuations were not accurate and we settled on £2400, happy times
They have been super easy to deal with.
They rang me yesterday, agreed the Copart valuations were not accurate and we settled on £2400, happy times