dirtyharry said...
Does anyone work in insurance?
My car is insured for $22k. It got peppered with little dents all over roof, bonnet and to a lesser extent doors etc.
It's got full comp insurance. I'm assuming that if the repair bill is >$22k they'll write it off, <$22k they'll fix it.
What I'm wondering is will they negotiate on this with me? Say the repair quote is $18k, could I suggest something like they give me $12k and I keep the dents? Sounds like a win-win to me - I get $12k (and a dented car which doesn't worry me too much for the sake of $12k!!) and they're $6k better off. Has anyone tried this?
Also, if it's a write off, will I get first offer on purchasing it back?
Thanks.
I don't work in insurance but I have had family members that did.
My take on this is that they will write it off if it has less than 22k worth of damage, unless they dislike you, think it is fraudulent, or that they can't recover the difference selling it as a wreck. Is it insured agreed value or market value?
I have heard stories of assessors recognising dents from a ball-pein hammer versus hailstones and refusing on that basis.
I have also heard of some particular insurance companies not settling even if the repair bill is the same as the value of the car.
The one thing they wont do is reinsure the car unless the damage is repaired, which makes sense.
I guess you can always ask them. They may be more willing to do this as they will have a heap of cars to fix.
