Car Written off- How to Negotiate

knowwhat on 30/03/2017 - 15:42

So the long story short- the worst bit:my car got flooded today. Thanks to the QLD weather.The NOT SO BAD bit: have comprehensive car insurance.

So made a car claim first time in my life, and the person was helpful at the other end but still am stressed. I am told that there are 2 options, once the car is being towed away (when the conditions become better, and when the rain stops which is less likely as the forecast for afternoon is heavy rains).
Option 1: The car is repaired.
Option 2: The car is written off.

Now, I heard from one of my friend that I may not get a good price if the car is written off as the insurance is at market value and not at fixed price. The car model is of 2013 and has ran less than 40K. It also has metallic paint and reverse camera covered as part of insurance.

I wanted some advice on the 2nd part, if anyone has been in a similar condition?
Is it OK to negotiate with the car assessors?
What are some of the tactics/ tricks used?
Any experience / thoughts/ advice on this would be much appreciated.

Cheers

Automotive

Comments

  • spackbace on 30/03/2017 - 15:48
    +2

    Your insurance notices will tell you what the car is insured for, you shouldn't need to guess.

    Just let it get written off, you're not going to sell a written-off car for anywhere near market value.

    • Nugs on 30/03/2017 - 16:02
      +1

      if it's insured for 'market value' then how would the OP know? do they use red book?

      I typically choose agreed.

      • spackbace on 30/03/2017 - 16:03

        They might use Redbook yes, but even Market Value normally gives you an actual figure when you do online quotes etc

        • John Kimble on 30/03/2017 - 16:09

          I vaguely remember getting a market value range when I used to be with Bingle?

      • John Kimble on 30/03/2017 - 16:05

        Yep, I learnt my lesson and will now on always choose agreed value. Nothing ambiguous when it is in writing.

      • Hellfire on 30/03/2017 - 17:05

        Redbook or Glasses Guide.

      • ChrisLevo on 30/03/2017 - 17:07

        Just moved to Woolies, and they show the agreed market value.

        Lots higher than Red Book.

    • John Kimble on 30/03/2017 - 16:10

      I don't think the car owner has any say on whether it is written off or not?

      • spackbace on 30/03/2017 - 16:14

        I didn't think so either

        I guess OP could leave it out in the rain a bit longer :P

      • raymond y on 30/03/2017 - 23:18

        The owner won't have a say in the status of the vehicle but "market value" is negotiable if it is not in writing, as per above. As it is vague for you, it is also vague for the insurance company.

        Knew someone who had an SQ5 stolen and insurance priced it as a Q5 given that there was only one other vehicle listed for sale at the time.

  • John Kimble on 30/03/2017 - 16:04
    +6

    I successfully got an extra $2,500 on top of the $24,500 I was initially quoted when I disputed my payout figure with my insurer when I wrote my car off. Car was a demo bought for $30,000, so still lost 10%.

    All I had to do was provide a few examples of my car being sold for more than they initially gave me; i.e. screenshots from carsales etc

    Had to follow up a lot and be very assertive, speak to the assessor directly etc, but got it eventually.

    Also, if you have a car seat in the car, they replace it or give you money to buy a new one for free if you have a receipt and provide photos (at least in my accident situation).

  • [Deactivated] on 30/03/2017 - 16:15
    +1

    for it to be a total loss it needs to have 70% of the cars value in damage.
    if its been in flood water than it generally is always written off.

  • [Deactivated] on 30/03/2017 - 16:17

    It will be written off no doubt
    flood water stuffs everything inside the car / ruins electronics / gearbox / water in engine
    non drivable, mud on seats etc

    sucks but thats qld for you

  • John Kimble on 30/03/2017 - 16:17

    I'm spamming a bit, but yes I have also heard of people getting more than they paid for it when getting market value too BTW, I think a combination of getting a really good deal when they bought it and the going rate for it when they wrote it off. I suspect you have to be quite lucky for this to happen because I can't see that it would happen too often.

    • altomic on 30/03/2017 - 16:45

      When I bought my current car it was as a demo but hugely written down. I saved ~$13,000 - if I had bought new. For the first 2 years of insurance the market values/ valuations were $15,000 and $11,000 more than the purchase price. Then it dropped to what I had paid.

      • John Kimble on 30/03/2017 - 16:48

        Surprised you didn't write it off to get the profit :p

    • knowwhat on 30/03/2017 - 16:51

      I would have loved that to happen but I am 100% sure that is not going to happen in my case as the current market price for the model is cheaper than what I had bought for at that time :(

  • doctordv8 on 30/03/2017 - 17:13
    +6

    Market Value. Ok, brass tacks, and take what works for you in your exact situation. You can negotiate with assessor. Whether it is write off or not depends on the water level/damage, repair/parts cost, vehicle salvage and scrap values, it is never an absolute. You do not say is it a $10000 or $50000 vehicle. I was involved in a insurance repair of a 1995 Navara, that went swimming in Buff Creek in Darwin in 1998, I could not see the value, but GIO did.

    Month of manufacture and month of first Rego will affect value. The latter is going to be in your favour, so press this point.

    Service history, log Book servicing will always be worth more, as will vehicle condition too. Even at 40000 you may eg have near new tyres etc, always worth more M/Value but you must push the point.

    Anything else of value you had, paint protection, tint, seat covers, tow bar, anything at all to make you vehicle slightly worth more than the bog stock one next door.

    Paint and trim condition, show pics, as a 40000k 2013 car of yours maybe way better or worse of another where it was abused and not kept garaged and or maintained for eg.

    Basically you are selling your vehicle to your insurance company, and they want to pay the least possible. Go play the game, do your homework, with same for same highest priced sold info and pics - research and details - play their game.

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