insurance repair more than current value but want to keep van?

[g1]

Bumped caravan leaving lower front on one side with some splintery cracks and crazing. No other damage. Because of current insurance value I've been told that the cost of repair could be more than the current value and certainly more than we could afford. If written off , the current value would not be enough to get anything near as nice a van. Apart from this damage it's fine for us . It's not dangerous, water doesn't get in at all so we just want it repaired / tidied up even if not to "as new" standard. Is there any negotiation with insurance company re getting it done more cheaply ? I believe it's grp and had thought of diy but have no experience of this sort of material.

Has anyone had experience of this situation? I'm wondering what's the best thing to do ? Thanks, wes

 

[Rod_5041370]

If possible, drop the insurance claim and buy a fibreglass repair kit.

This way your caravan won't appear as an insurance write-off which could mean increased premiums in future.

 

[Dustydog]

g

So you have an indemnity policy , not a new for old, full reinstatement one?

Pk.

In the event the repairs exceed the market value you are entitled to a cash settlement based on the market value. If you decide to keep the salvage than the insurer will make a discount from the market value and then give you cash with you keeping the caravan.

What do you want to do? It is quite clear from you say the cost of repairs exceeds the market value so in simple terms I am afraid your caravan is a constructive total loss beyond economical repair.

Cheers

Alan

 

[Damian]

Wes, although the Insurance company say the van is a write off, that is because they will price the repairs on the removal of the broken panel, and replacement with new, along with associated labour costs etc.

However, that does not mean that it would be uneconomic to have repaired by a local non trade repairer, or if the panel is fibreglass, by yourself, if you have the time and knowledge.

Even if it is plastic, it can still be repaired with glass fibre by someone with the expertise to carry out the repair.