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write off
- Thread starter kyleat1
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hako
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My understanding is that when the cost of repairing the vehicle equals or exceeds the insured value then they will write the vehicle off. The insurers usually will keep your wreck which they then auction off. Some policies allow the the insured to keep the wreck but most don't.
sircruisealotVS
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what happened? are you just curious or have you pranged your ute?
like hako said, they wont fix it if it isnt worth while....basically they'll do whatever is cheapest and easiest for them.
like hako said, they wont fix it if it isnt worth while....basically they'll do whatever is cheapest and easiest for them.
kopper69
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Far out, it must have a bit of work done to it or have low low kms, you can pick up a nice VU for under $16k, even a tired VY for about that.
Lumps of cheese
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It also goes on the age too doesn't it?
My mum's vr berlina copped a hit up the a*** at traffic lights causing $2000 worth of damage but they still fixed it.
My mum's vr berlina copped a hit up the a*** at traffic lights causing $2000 worth of damage but they still fixed it.
Scooter79
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I got rear ended 3 months ago. $10,000 of damage but is insured for $13,600. The insurance company gave me the choice of write off or repair. I chose repair.
smickvn
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- VS S V6 s3 m5 ute VN=WRITE OFF
There is also 2 different type of write off.
Statuatory write off which is when a structural member of the car has been damaged and there for is not repairable.
&
Repairable write off which is when it is still possible to repair the car but it is not economically viable to do so through the insurance company.
This is when the cost of repair is close to or more than the value of the car they pay out the value of the car.
Some companies will let you keep ur car and deduct the value of the wreck from the payout figure and some may just take the wreck off u.
Thats my understanding anyway, had my vn writen off Dec last yr for repairable write off
Statuatory write off which is when a structural member of the car has been damaged and there for is not repairable.
&
Repairable write off which is when it is still possible to repair the car but it is not economically viable to do so through the insurance company.
This is when the cost of repair is close to or more than the value of the car they pay out the value of the car.
Some companies will let you keep ur car and deduct the value of the wreck from the payout figure and some may just take the wreck off u.
Thats my understanding anyway, had my vn writen off Dec last yr for repairable write off