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Stolen Car - Offer & Write Off

  • 26-08-2011 10:57AM
    #1
    manana
    Registered Users, Registered Users 2 Posts: 30 ✭


    STOLEN CAR - OFFER AND WRITE OFF: my insurance company offered me €1500 for my stolen car, saying it's a write off. The replacement cost is easily 2500. I said it was too low. They've come back with offer of €2000! Still not good enough but quite a jump! Interestingly, my garage repair man says my car is not a write off and can be restored for a few hundred. It's got low mileage and good engine. Do I have to sign away the old car as well as take a poor offer?


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,897 Mod ✭✭✭✭Henry Ford III


    manana wrote: »
    STOLEN CAR - OFFER AND WRITE OFF: my insurance company offered me €1500 for my stolen car, saying it's a write off. The replacement cost is easily 2500. I said it was too low. They've come back with offer of €2000! Still not good enough but quite a jump! Interestingly, my garage repair man says my car is not a write off and can be restored for a few hundred. It's got low mileage and good engine. Do I have to sign away the old car as well as take a poor offer?

    You could always take the offer, and buy back the wreck. You'd lose your NCB though possibly.


  • #3
    Vicxas
    Registered Users, Registered Users 2 Posts: 15,553 ✭✭✭✭Vicxas


    If you take the offer as a writeoff you have to sign the log book over to the insurance company.


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