Skylarking
Well-Known Member
- Joined
- Feb 3, 2018
- Messages
- 9,995
- Reaction score
- 10,324
- Points
- 113
- Age
- 123
- Location
- Downunder
- Members Ride
- Commodore Motorsport Edition
Well Stevie, i just skimmed through the Shannons pds here, where it state the following:Call me Stevie Wonder ..... but I have just looked at my Shannons PDS booklet dated March '21, and the website PDS, and can't see anything about buyback or age of vehicle, unless they are using big words that I don't understand.
(page 35)
SALVAGE RIGHTS
Available with: Comprehensive Applies to: All Vehicles
✓ What is covered
If your vehicle is over 35 years old, or this option is shown on your certificate, and we
declare your vehicle a total loss, you will keep the unrepaired vehicle.
✗ What is not covered
Salvage rights will not apply if your vehicle is stolen and we settle your claim as a total loss.
(page 53)
SALVAGE
We own the vehicle salvage
When we replace your vehicle or pay you for the total loss, your vehicle salvage becomes our property unless the optional cover ‘Salvage rights’ applies (see page 54).
If a credit provider is entitled to the salvage of your car, then we will deduct our estimate of the salvage value of your vehicle from any amount we pay.
We give you the option to purchase your unrepaired vehicle.
If your vehicle is a total loss, you can choose to purchase your unrepaired vehicle. We will determine the salvage value of the unrepaired vehicle, and deduct this amount from your settlement amount, or you must pay the salvage value to us before we release the unrepaired vehicle to you. The option to purchase the unrepaired vehicle will not apply if your vehicle is stolen and we settle your claim as a total loss.
So after my quick skim, my take is that it seems Shannons automatically provides owner salvage rights to vehicle over 35 years old and they can provide owner salvage rights for younger vehicles if they choose (and write this iinto your policy). If you don’t have owner salvage rights, you have the option to buy the wreck at a price Shannon’s decides (with non details about how they decide and what you can do if you disagree)