Car Written Off Question
HiWas wondering if anyone in the industry can offer any further advice.3rd party hit my car and I have been dealing with the 3rd party insurance fault lies wholly with the 3rd party as my car was parked at the time.
Car beyond economical repair and they initially offered MV £2,500 less salvage value £450 net £2,050.I rejected this and forwarded similar vehicle on autotrader for approx £3,500 and countered with £3,500 less £450 salvage net £3,050.
They've responded and said that they do not use advertising website but upped their offer to £2,733 but salvage is now £573.93 net receipt £2,159.07.
Is it correct that salvage price will increase if market valuation increase.Secondly this appears to be their final offer as they said if I'm unhappy I should talk to my insurance company.Will there be any merit in talking to my insurance company?
Many thanks for reading and any response given You could try your own Insurer in the hope of a better offer. Are you intending to keep it?otherwise I'm not sure why salvage value is relevant? Yes as it was my dads car who recently passed away The same happened to me data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7
Hate insurance companies. Sorry to read this Thanks Rousetafarian.Crazy thing is I know it doesn't make sense to repair the car as I don't need it but it's just too soon for me to scrap the car. Doesn't sound crazy to me, condolences. Salvage value is typically a percentage of the market value. What confuses me is that they don’t use a consistent percentage. Perhaps they employ some sliding scale in it. Your insurance policy should give you more information.
But in short, yes it will vary. His Insurer is not providing the offer or the salvage value, it’s the TP Insurer. As such, the terms are not in his policy.
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