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Car Insurance and Scrappage

  • 14-11-2011 3:25pm
    #1
    jondunnowho
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi,

    I recently got stuck in the floods and my car, an Opel Corsa c 1L has been deemed a write off. I also noticed that I had my car insured for less than the current market value, not by much but I still would like to make up the difference. My question is: If my car is deemed "uneconomical to repair" and I accept the fact. What happens to the scrap? Who owns it?

    Can I accept the insurance companies pay out and sell the car myself for scrap? From my understanding I still own the car and what I decide to do with it is my choice.

    What happens here, a little confused.


Comments

  • #2
    Alanstrainor
    Registered Users, Registered Users 2 Posts: 23,157 ✭✭✭✭Alanstrainor


    jondunnowho wrote: »
    Hi,

    I recently got stuck in the floods and my car, an Opel Corsa c 1L has been deemed a write off. I also noticed that I had my car insured for less than the current market value, not by much but I still would like to make up the difference. My question is: If my car is deemed "uneconomical to repair" and I accept the fact. What happens to the scrap? Who owns it?

    Can I accept the insurance companies pay out and sell the car myself for scrap? From my understanding I still own the car and what I decide to do with it is my choice.

    What happens here, a little confused.

    If you accept the payout from the insurance, then the car is theirs. They can do what they want with it. How old is the corsa?


  • #3
    jondunnowho
    Registered Users, Registered Users 2 Posts: 8 ✭jondunnowho


    Aha I see. Dang Nam it. It's a 2006 Corsa.


  • #4
    shinikins
    Registered Users, Registered Users 2 Posts: 7,842 ✭✭✭shinikins


    Alanstrainor wrote: »

    If you accept the payout from the insurance, then the car is theirs. They can do what they want with it. How old is the corsa?
    Not necessarily. My car was written off two months ago andI was offered €250 for scrappage(1l Peugeot 206) I asked if I could scrap the car myself as there was a lot that could have been salvaged, and was told that the car was mine so I could do what I pleased with it. HOWEVER, the insurance would not pay out until they received the Certificate of Destruction. I needed the money so accepted that I would have to go with their choice. It didn't help matters that every scrap yard I contacted already knew my car and were not prepared to deal with it.

    A few points OP, you'll never get close to the true value of your car, so prepare to be disappointed by their offer. The fact that you undervalued it may well work against you. Do your research and find comparable cars for sale and send them to the valuer immediately. Be prepared to call your insurance company every day, if not several times a day.


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