My car has been written off

[ChefDJ]

:thumbs:

 

[zaleonardz]

How they screw you is you insure it today for 120.

You pay your premiums at 120 for 2 years.

2 years later, car is a write off, you have been paying for 120k, but the car is now worth 75... guess what... 75

I had it now, I wrote off a car during last week, car was insured for 229k, but book on the car was 98k

Worst of it all is car was written off for hail damage, quote was 130k, sunroof was 25k, roof liner because it got water damage was 8, windscreen 9k and only originals available, bonnet 8k,

Was a Hyundai Trajet, so there are virtually no second hand spares available...

But cussy was insured for 229k....

I even offered the insurance company to fix it for 83k, and what I would of then done is bought a complete vehicle with a failed engine, and then use the parts that I need off of that, but alas....

Chef,

Thats technically not correct, if its insured for 120k and the book value is 80, guess what your going to be paid.

So policies specify on trade, some on retail, most take the differance between the two.

I have many customers that are over insured.

Its simple maths that they apply.

If insured for 120k and they will pay out 120k, write it off. You can get another nice 330i individual for that price, with possibly less km's on.

To be precises, it's insured for 126000 and some rands, thats the retail value that the assessor confirmed this morning.

As far as I know you cannot insure a car for more than the retail or trade value depnding on which you selected. But I insisted to insure for retail.

---

Thanks guys. appreciate all the responses :thumbs:

---

Looking for a new play thing as we speak

---

---

 

[M3_devil]

Same thing happened with a friend who wrote off his BMW. Payout was way less than insured value. He basically stood his ground and accepted the low payout value but made insurance pay him back the difference in the monthly premiums compared to what they should have charged for correct insured value.

 

[ChefDJ]

Same thing happened with a friend who wrote off his BMW. Payout was way less than insured value. He basically stood his ground and accepted the low payout value but made insurance pay him back the difference in the monthly premiums compared to what they should have charged for correct insured value.

Well done on him :thumbs:

I'm due for a call this month to revise my insurance premiums and bring the insured value down :thumbs:

 

[Rish///M]

My f30 was insured for R450k. Car written off due to water damage to the engine. Insurance paying out R419k less 5% excess. Wtf. I let mine go. Its the best option.

Sent from my GT-I9500 using Tapatalk

 

[Dippies]

:sorry: bud but now contemplate on that m5