Write Off

[AndrewWimborne]

Can anyone of youun informed people give me some knowledge on how the insurance business works.

If you have a crash in a car worth 10,000 as a trade in with no other vehicle involved what level of cost would the insurance company go to before writing the car off.

also if a car was worth 10000 as a trade in what could one expect as a settlement from the company.

Thanks

andrew

 

[sidney_374363391]

They would usually look at the average price of a similar model in your area and settle on that figure.

My son has been (imo) extremely lucky regarding a write off settlement. He had his car under insured (I didn't know about it) at

 

[AndrewWimborne]

Thanks for the info.

Andrew

 

[DanPaula]

Have a look in your policy booklet it has to state this information in there. Majority of companys will write off at 60% of the market value of the car. Use a guide such as Parkers to get a rough idea.