Insurance write off question

adscan · 27 Jun 2012 at 20:10

If my car gets written off by an accident am i able to buy the damaged car off the insurance company?

also..if i buy it back do i still get the market value of the car back to me?

Disco Boy · 27 Jun 2012 at 20:13

adscan said:
If my car gets written off by an accident am i able to buy the damaged car off the insurance company?

also..if i buy it back do i still get the market value of the car back to me?

Depending on the type of write-off yes.

I'm a little confused by what you mean here. Obviously you will be offered the market value (or as close to it as you can haggle) if you decide not to keep it. Then they will sell you what remains for a certain price decided by them.

Iamzod · 27 Jun 2012 at 20:20

I can't remember the exact figure but i bought my last car back for something daft like £20 and still got a cheque for market value, lol.

I then sold the car

(yes the buyer knew it had been written off)

adscan · 27 Jun 2012 at 20:26

i am just interested to know really.

say my car is worth 2k and i crash it and it gets written off by the insurance company. do i get my 2k back plus get to by my damaged car back for a low amount? how do they decide what the damaged car is worth?

Kenai · 27 Jun 2012 at 20:29

adscan said:
i am just interested to know really.

say my car is worth 2k and i crash it and it gets written off by the insurance company. do i get my 2k back plus get to by my damaged car back for a low amount? how do they decide what the damaged car is worth?

Well if YOU crash it, you'd get the £2000 minus your excess but yeah, essentially that in most cases.

SGWills · 27 Jun 2012 at 22:27

you get the settlement figure, minus your excess (if its fault), minus any outstanding premium (if you pay by direct debit) and minus the amount the insurance company get from the salvage company (as they buy the car off the insurance company)

K.C. Leblanc · 27 Jun 2012 at 23:56

When my old car got written off they just offered me £100 less if they didn't take the car away.

But then it was a odd case, since it was written off but still drivable.

bilscomparison · 1 Aug 2012 at 10:27

Hi Adscan,

Insurance companies will usually sell the car back to you, after adding a percentage for themselves, but it's best to speak to your insurance company directly. When you buy it back, it can also affect the amount an insurer is willing to pay out in the event of another crash, if it becomes road worthy again. It will also affect future resale value if it is categorized as a write off. You should still get the market value of your car back to you unless you agree to lose some in exchange for the car.
Good luck!

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