Undervaluation on written off car

Diabhal123

Hi All,

New to boards.ie, hope I've posted correctly and in the right place.
I crashed my car last week, 2008 Mazda 6, 2ltr turbo diesel, and the car is a write off, the accident was my fault but thankfully no one was badly injured.
I have fully comp but only insured my car for 10K, which is an undervalue, but my fault so thats fine. The assesor called me and advised that because of this he couldnt go any higher and was advising my insurer to settle at this price.
Today they have called and offered me 7950 and advised that I could also get a scrappage payment of 1800, bringing my payment to 9750.

Can anyone please clarify this scrappage payment to me?
Should I be getting the car value from the insurers plus the car scrappage?

Would be so grateful for any help. Still a bit traumatised from the crash and I lose my rental car tomorrow so feel like I have to settle so I can get a replacement var and just want to be sure I am making an informed decision.

Thanks in advance.

JJJJNR

You need to ring around to dealers and get them to fax in the price of a similar car that they might have on their forecourt, check carzone also, I'm nearly sure they are trying to pull a fast one on you and you can get more, they should have you in the same car end of.

R.O.R

They are giving you €250 less than the maximum payment you can ever achieve. Save the stress and settle at that.

You'll get a cheque for €7,950 from the insurer, and once the salvage crowd have the car, the VLC and the keys, they'll give you a cheque for the €1,800 salvage value.

Went through a similar situation recently, where I wanted the full insured value of the car, which I thought was undervalued. Dragged on for weeks and I eventually settled for close to the insured figure, but the fighting was pretty stressful.

knifey_spoonie

Its probably €10000 -€250 excess. As said above, you get insurance cheque + cheque from salvage company

discombobulate

You also have the option of buying the car back for the salvage value if its a Cat C write off and trying to get more for it yourself or getting the repairs done, an engineers report and back on the road.

Barr

There is always an excess , the op is not factoring this in.

keithsfleet

IMO you are doing pretty well at 9,750, you can try fight it out for that extra 250 but is it really worth it?

You insured the car for 10k so you won't get anymore than that.

Really doesn't pay to undervalue or overvalue your car when insuring it....