Dented pride

Messages
906
If repairs exceed around 60% of the valuation, most insurers will deem it to be a total loss. This is another reason I have both my cars on 'agreed valuation' policies as the valuations are higher than 'market valuations' thus raising the threshold before triggering a total loss decision.

It should be noted that if an owner elects to retain the salvage car, the total loss payment is reduced by 20% to 30%. This is possibly because they lose the sale to scrap yard such as Copart for the wreck.

Putting a Cat X car back on the road is for each owner to decide.
 

gb-gta

Member
Messages
147
I would imagine bumper/boot/exhaust are easy to replace. Damage to rear wing could be the tricky bit. Fingers crossed for you.
 

mjheathcote

Centenary Club
Messages
7,225
It's one of those repairs that to be done properly new parts, will be expensive.
If written off and bought from a salvage yard, could also be bodged repaired quite easily, and then buyer beware!
 

azapa

Member
Messages
978
really does not look too bad! even the tail light might be OK? really can't see, but can't imagine the wing has a crease on the flank from that. good luck anyway and make sure she is put back on the road. in some years these barges will be very appreciated!
 

BennyD

Sea Urchin Pate
Messages
13,707
If repairs exceed around 60% of the valuation, most insurers will deem it to be a total loss. This is another reason I have both my cars on 'agreed valuation' policies as the valuations are higher than 'market valuations' thus raising the threshold before triggering a total loss decision.

It should be noted that if an owner elects to retain the salvage car, the total loss payment is reduced by 20% to 30%. This is possibly because they lose the sale to scrap yard such as Copart for the wreck.

Putting a Cat X car back on the road is for each owner to decide.
Mine was reduced by 20% because, apparently, the insurance companies don’t pay VAT on the repair, anyway, that was what I was told by my insurance company.
 

Manc5

Member
Messages
190
Sorry to see this and after only 1 week of ownership must be a horrible feeling. I can imagine many hours of research and hunting went into finding her and she is a beauty, hope it gets sorted via insurance repairs or as mentioned earlier see about buying it back if a cat x if you intend on keeping her for a few years. At least, as a positive, no one was hurt and if you do keep would allow some room for mods to the exhaust system... good luck and hope it gets resolved.
 

Masser50

Member
Messages
151
Mine was reduced by 20% because, apparently, the insurance companies don’t pay VAT on the repair, anyway, that was what I was told by my insurance company.
They do pay VAT on repairs (or should!) it’s just they recover this outgoing by netting off against VAT they charge on revenues.
 

tokyomb

Member
Messages
151
They do pay VAT on repairs (or should!) it’s just they recover this outgoing by netting off against VAT they charge on revenues.
Although, as insurance premiums don't carry VAT (rather IPT) therefore insurers generally don't get to reclaim all of the 20% VAT.
 

StuartW

Centenary Club
Messages
8,532
Very sorry to hear this, especially so soon into your ownership

My AC was written off with this damage - bootlid, bumper, creased rear wing, exhaust, light fittings. No chassis damage and the wheel & brakes were all fine

73628
 

StuartW

Centenary Club
Messages
8,532
Ouch.
Realy don't want mine written off.
Indeed, a large part of the cost of mine was the very high cost of the boomerang lights and the damage to yours really doesn't look as bad to me. Good luck, hopefully you will be all fixed & back up & running ASAP
 
Messages
906
Ouch.
Realy don't want mine written off.
I feel for you. Insurance repairs and total loss decisions are very difficult to predict. If they state that Copart are collecting he vehicle for an engineers inspection, suspect that the decision is already made for a total loss.Copart is a graveyard for cars. Once they go in they are deemed total loss. The angle of those exhaust pipes looks worrying to me. But you will justs have to sit out and wait I'm afraid. I have no idea which way the decision will fall.
 

Alan Surrey

Junior Member
Messages
39
The rear light cluster still works and appears undamaged. But the clear perspex fairing shattered into a dozen pieces.
Is it possible to buy and fit new fairings?