Car Value insurance payout

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Chalks13
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Re: Car Value insurance payout

Post by Chalks13 » 11 May 2018, 05:43

Something that came to mind this morning about write offs and buying one on record.


Most insurers work on a sliding scale for value to repair costs.

EG - a car valued at £2k could have £2100 worth of damage and be a CAT C. This could simply be someone pouring brake fluid over it and keying the panels, leaving with it needing a respray.
OR...
A car valued at £10k has heavy front end damage, air bags deploy etc and the repairs cost £8500. That is a CAT D.

Without knowing what was damaged and when, typically someone would buy a CAT D over a CAT C, thinking it’s minor damage.

In the above, which would you buy if you saw it was a previous CAT C or D??


I’d also add, categorisation has now changed (late 2017) from C & D to N & S. This relates to Non structural damage and Structural damage.

Anything that is a structural panel, such as B post, Chassis etc that is damaged and the repairs exceed the value, now means it’s a CAT S.


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M60NJP
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Re: Car Value insurance payout

Post by M60NJP » 11 May 2018, 09:26

I probably would buy neither - but only because of the many sales I've seen they're 'optimistically' priced by the seller. A pal of mine on the trade buys stock for a major franchise dealer and even Cat D only sell/are valued at 50% of CAP, yet many seem to be offered in Autotrader at only 20% of other similar cars.

If the price was right, the damage limited, repaired at a traceable/reputable place and photographed/receipted etc I'd not discount one............................but I've not seen many that tick all those boxes!!

Chalks13
BMW Enthusiast
Posts: 83
Joined: 23 Oct 2017, 15:55
Car model: Mini Cooper '52 plate, 2003.
Location: Basingstoke

Re: Car Value insurance payout

Post by Chalks13 » 11 May 2018, 14:33

Typically when valuing a vehicle when it’s been written off previously, a 10-20% deduction would be madec


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