What are my rights when insurance company wants to write off?

[Little]

Hi all,

I have so many questions but would like to try the short version first so as to not bore everyone.

I'm hoping SAU will be a wealth of people that has been through this before and know how the system works. I'm in over my head and trying to get some facts straight before I commit to anything.

 

I have ( had ) An R34, Turbo, manual, coupe, it was stolen and thrashed for a night and dumped the next morning, more or less straight.

The insurance company ( not sure if i should name them ) have had the car at a questionable garage in Dandenong, Vic for 4! weeks.

The insurance assessor contacted me today.  Word for word:

"Mate, we're not going to go down the road of repair, we're happy to give you the agreed value (17k) if you can get down tomorrow and clear out your personal belongings from the vehicle."

Some people would not touch their car again if it was stolen and thrashed. I understand this.

I've also been warned from two other people in the industry to ' don't let the insurance people have it'

I haven't made up my mind and i welcome peoples opinions, but the meat of the matter is:

 

 

*I am not convinced the mechanic yard ( 1 star review on google ) has been honest, and done due dilligence. They reported the car runs, but has a 'judder' that the believe may be gearbox. However.. this is only from running it up the 50 m driveway because the plates were nicked and they aren't able to drive it on the road.... Isn't this what those trader plates are for?

*I'm not convinced the insurance and mechanic aren't taking advantage and stand to profit ?

* If my agreed value was 17k, realistically what outcome other than giving up can i negotiate? Would they pay me out for example 12-14k to take it on my own?

 

Keeping on with a 2001 model car might not make sense logically... but she's 8 years of work and love, and was in really good stock condition before this happened. I'm not sure that i won't

hate myself later for 'giving up on her'

34 GTT coupes similar mileage to mine are currently going for 25-26 on carsales.

 

Help, please

 

[GTofuS-T]

13 minutes ago, Little said:

* If my agreed value was 17k, realistically what outcome other than giving up can i negotiate? Would they pay me out for example 12-14k to take it on my own?

In this regard, it depends on the insurance company, I've had an experience with a previously stolen car that was written off, agreed value was paid out, i think it was about $3.5K, and I was able to buy the car back for $400 as that is what the assessor deemed the scrap value to be.

Buying the car back like this though you would want to confirm it's been classed as a repairable writeoff and they'll give you a list of repairs required to re-register which i believe has to be done by a certified mechanic or at least inspected by one(?)

[tridentt150v]

Negotiate with the insurance company to buy the wreck back off them.  Just make sure its a registerable wreck!!!  Don't let them write it off!!!

^^^Wot 'e sed!!!

 

[KiwiRS4T]

I bought my earlier written off Stagea just because I knew the value of the parts in it. I had no intention of putting it back on the road but just bought another Stagea and swapped all the good bits on to it.

I would offer to buy the wreck. Let them name a price first - it could well be less than what you are prepared to pay!

[32psi]

The workshop probably quoted the shit out of the car and plan to buy it from the insurance company so it will be in your best interest to buy it if it's not a write off (which it sounds like it's not)

[andythm]

You always have the option to obtain to dispute the shop's claims to the insurer and obtain a second opinion.

[NEO25T]

Just ask them what their salvage value is for the car, then low ball them. Say its got sentimental value, might work....

[Birds]

As above you can sometimes buy it back. This saves the insurance company disposing of it anyway so it's a small win for them. But yes make sure it's not classed as anything more than a statutory write off or you won't be able to register without getting engineered VASS cert etc.

You can indeed choose where it's repaired unless stated otherwise in your insurance PDS, and entitled to obtain alternative quotes. They have the opportunity to dispute in VCAT or your state equivalent, as do you.

However if they are claiming it is too much money to repair then it's unlikely they will sell the wreck for a lot (can't have cake and eat it too) so you can argue that they have deemed it worth fk all and good cause for you to take it off their hands for cheap.

[D_I_F]

If you don’t want it written off withdraw the claim. The insurance company is well within its rights to write the vehicle off. The reason they would in this particular case is because they don’t know how thrashed it is and can’t guarantee any repairs. More cost effective to write it off.

[D_I_F]

7 hours ago, Birds said:

As above you can sometimes buy it back. This saves the insurance company disposing of it anyway so it's a small win for them. But yes make sure it's not classed as anything more than a statutory write off or you won't be able to register without getting engineered VASS cert etc.

You can indeed choose where it's repaired unless stated otherwise in your insurance PDS, and entitled to obtain alternative quotes. They have the opportunity to dispute in VCAT or your state equivalent, as do you.

However if they are claiming it is too much money to repair then it's unlikely they will sell the wreck for a lot (can't have cake and eat it too) so you can argue that they have deemed it worth fk all and good cause for you to take it off their hands for cheap.

Stat write off you can’t register at all birds ?

They will only put the car on the WOVR unless there’s structural damage.

[Birds]

Ugh financial write off*

Brain no worky on Friday