Insurance - Write Off
Unfortunately the Missus was hit from behind. And unknown to me is this horrible equation ?
If the Repairs of your car cost %50 of its value or more,
then it is no longer financially viable to repair.
Car = £1,000
Repairs = £501
= Possible Write off
In English your car is declared a "Write Off" by your insurance
company. Baring in mind the Insurance Repair book is massively
inflated with there prices. So if you were an estimator "joe Blogs"
your estimate for the repairs would be well under what the insurance company
would recommend as a repair estimate.
Currently our car is in the garage and being assessed by our insurers as its very close
to "Not Financially viable as a repair" or Written off
Our Insurance assessor has to make the decision as its a close call.
I have pictures of the underneath which is pushed in quite a bit
as the bumper etc.. just spring back and look normal.
To make this worse !
I'm 14 days or the end of this month away from protecting my 4 Years No Claims
But the other driver has admitted full liability. (Phew).
I'm currently awaiting the decision about what happens.
Will it be a "Write off" or "Repairable" under the insurance?
Fingers crossed and legs i say.
As ive just had all the cam belts and bushes done at crimbo.