what u mean bloke?

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oil leak?..what oil leak..that puddle under the car is just sweat from all that horsepower

I mean that if if gets auctioned I will be bidding against you

its better for him to be written off than to have it fixed badly

whose insurance has written him off ?yours or his? can you claim salvage rights ?try and recover him even for the parts to transfer to another mini.
good luck

my insurence because the other driver doesnt have insurence. i have to buy the car back if i want to salvage him. and thats the plan.

thanks bloke im glad i have someone like you around to pick me up when im down.

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oil leak?..what oil leak..that puddle under the car is just sweat from all that horsepower

Your insurance company would surely give you first rights to buying it back? And i think what ever price they want to sell it to you at is about what they start the auctions at anyways, so i wouldnt even let it get that far

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http://www.ausmini.com/forums/viewtopic.php?t=20746

which insurance company are you with?mine gives me salvage no question

that comment was serious - once a car pranged its never the same. Your better off having it written off.

nrma. im buying him back no matter what. but something doesnt seem right about this whole thing. cause everyone is telling me the same thing. everyones telling that i shouldnt have to buy him back, they should be giving him back to me and are alot of people reckon i should question why he was written off.

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oil leak?..what oil leak..that puddle under the car is just sweat from all that horsepower

Joe, you need to ring your insurer direct and ask. Salvage rights (ie being given the wreck as well as the insurance payout) isn't a given. It depends on whether it was written into the policy, hence you either need to ring and ask or read the paperwork that came with the insurance (ie the Product Disclosure statement PDS, aka the fine print).

If you don't have salvage rights, the next step is if you have first option to buy it back. It should not be up to you to set that price, again, talk to your insurer.
KB

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just took a look at the policy and it has got salvage rights (why dont i check things) and the claims department is closed for the weekend so ill have to do it first thing monday

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oil leak?..what oil leak..that puddle under the car is just sweat from all that horsepower

Joe
There are a couple of very good reasons why you don't automatically get the wreck back.

You paid a premium to cover loss or damage. You will get a payout for tiny and the amount depends on if its market value or agreed value. As KB said you need to talk to the insurance on that.

Now - insurance companies will only have a car repaired up to its insured value. If the insured value is $5,000 and the repairer quotes $5,010 then they will write it off. the repairs cost more than the insured value.

Do tell us that it is a comprehensive policy and not third party property - Third party is a very different type of policy.

Now once the insurer writes off a car and does the payout to you (and its a loss to them) then they own Tiny and are entitled to regain some of their loss by selling the wreck on the open market eg auction.

People buying back their written off cars is a very common thing and they wont have a problem with it provided you talk to them. Tiny is no longer yours one they write it off and do the payout unless salvage rights are written into the policy.

Hope it works out mate

Mike .

Joe

Read it very carefully - do you have the salvage rights. Just who has the salvage rights ??

Mike

ill be making sure monday that tinys not taken to auction. but the question is do u see over 5grand worth of damage on that car?

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oil leak?..what oil leak..that puddle under the car is just sweat from all that horsepower

Joe

yes i do - remember the panel beater is running a business and its an insurance claim. They charge more for insurance claims and they are oblidged to use new parts.

Privately they might charge $2,500 and use second hand parts but not on an insurance claim. For a panel beater in business, the NRMA is a very difficult company for them to do business with. Their assessors (who are all ex panel beaters them selves) all look at the quotes and the cars very carefully.

$5,000 is frankly not a lot of money for an insurance repair. A friend hit a kangaroo and were quoted $7,000 for the repair under insurance. The had it repaired by the same panel beater for $3000 by doing it privately.

Just a thought Joe - what is your excess ?? You do know that the excess is going to be deducted from the payout figured ????

Mike

has, or does not have?? for NRMA, I'd doubt you'd have it - next mini, use shannons, vigil etc. where retention of the wreck is a standard thing, you keep ownership and don't have to buy it back

they'll give you a buy back figure, so you'll end up with $5K, less the excess, less the buy back figure (if you think it's worth it - add up what it's realistically worth)

it's easily $5K worth of damage - but like I said a while ago, most repairers wouldn't touch it, they don't have the skills to do a job like that where they're usually replacing dented panels on commodores

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