Thread: Insurance write offs- please explain to a mere car owner

Originally Posted by tea lady

So they made a profit on that one. (Actually, just reading "the book" and it said that if the car was sold for more than the write off value you would be paid the difference too. ) (I think. )

That depends on the fine print in the policy document. Worth reading before taking out insurance and definitely before making a claim.

Normally if the current value of the car is less then or equal to the total damage (ignoring any excess) than they can write it off and payout the assessed value less the excess of the claim. Any amount they recover is theirs, including the unexpired rego.

If you can buy it back it will need a RWC before it can be transferred back to you and transfer duty will also be incurred. Usually not worth it on an old car.

Peter.

If the insurance company declares the vehicle a write off - it is unable to be driven.

There is a WOVR (Written Off Vehicle Register) at Vicroads & all state rego depts.

The vehicle is either a Statutory writeoff or a repairable writeoff.

A Stat writeoff cannot be reregistered at all but can be wrecked for parts - the part that has the VIN number (body shell or chasis) cannot be used again.

A repairable writeoff has to undergo a VIV inspection (Vehicle Identification Verification) - this was originally introduced to prevent stolen cars from being "rebadged" and to check structural repairs were of a good quality, but it is now out of control and the piece of paper when signed says "ALL damage has been repaired, so that means hail damage must be repaired. BTW the VIV inspection requires photos of the damage, progress photos of the repairs, receipts for all parts & materials (receipt for secondhand parts must include VIN from car parts came off) and costs about $480 dollars and another $85 if a recheck is required.

If the car is on the WOVR then it cannot be driven even with a permit, it must be towed ort trailered to be repaired or moved.

Hope that helps - i have bought all my kids cars from Fowles auctions as repairable writeoffs and gone through the process but it is getting more difficult all the time.

Cheers

This is not in place of a roadworthy certificate it will need one of them as well.

Your choice is
- don't tell the insurance co at all and put a new windscreen in it and then just have third-party insurance only.
- tell the insurance co and get your payout and buy a new car.

Cheers

Originally Posted by Calm

Your choice is
- don't tell the insurance co at all and put a new windscreen in it and then just have third-party insurance only.
- tell the insurance co and get your payout and buy a new car.

Cheers

Thanks Calm. I knew someone would know what's what. So if we take it to the assessor does it mean we then can't decide not to repair it or make a claim? (Will get the windscreen repaired of course. )

And if they write it off, if you buy it back you can't just repair the windscreen, you have to repair it all again? And that includes not just the dings, but everything else and is then has to get road-worthied too? This seems such a waste. Its only cosmetic damage.

Originally Posted by tea lady

Thanks Calm. I knew someone would know what's what. So if we take it to the assessor does it mean we then can't decide not to repair it or make a claim? (Will get the windscreen repaired of course. )

And if they write it off, if you buy it back you can't just repair the windscreen, you have to repair it all again? And that includes not just the dings, but everything else and is then has to get road-worthied too? This seems such a waste. Its only cosmetic damage.

I think you could take it to the asessor and if he is going to include it on the WOVR you could say "no i dont think i will make a claim" - take it home and then just fix the windscreen. - you would want to check what insurance they will accept in future but i reckon "bomb insurance" (other car only + fire & theft) should be ok.

Cheers

Originally Posted by Calm

I think you could take it to the asessor and if he is going to include it on the WOVR you could say "no i dont think i will make a claim" - take it home and then just fix the windscreen. - you would want to check what insurance they will accept in future but i reckon "bomb insurance" (other car only + fire & theft) should be ok.

Cheers

Thanks! Will ring 'em in the morning.

I've always been under the impression to have the car looked at by an insurance assessor you have to put in a claim first. I'm not sure if you can cancel that claim or not at that stage.

I've never held full comprehensive insurance on a car but have been involved in lodging several claims for company vehicles. (The latest of which i dropped off for repair today). The process has always been the same, fill out claim form, get quote or quotes, insurance assessor looks at car to verify the quote is accurate and resonable and gives the go ahead to the repairer.

Originally Posted by nihilism

I've always been under the impression to have the car looked at by an insurance assessor you have to put in a claim first. I'm not sure if you can cancel that claim or not at that stage.

Not necessarily a claim but notification will start the procedure with some companies. But once notified, although you can proceed not to claim, you cannot cancel the process that has started and an assessor may inspect the vehicle and make his decision.

BTW failure to notify the insurance company will invalidate further comprehensive insurance on that vehicle. ( Don't you just love the fine print in policies. )


Peter.

Well, we've decided to just have third party fire and theft on the cars. The cost of comprehensive was starting to be not worth it compared to the value of the cars.

Interesting thread. Are there any good but somewhat dented bargains going after the hail storms?

Originally Posted by woodnut

Interesting thread. Are there any good but somewhat dented bargains going after the hail storms?

Heaps! All the new car yards in Upper Ferntree Gully have had sales on.

We had the same sort of hail in perth last monday so the same thing is going on over here too.