Does writing a car off mean they in effect own it?
My son was involved in a "no-blame" accident that has resulted in his car being written-off. When he asked about buying the remains he was told the price would be 35% of the write-off value. Can the insurance company do that?
Does writing the car off mean they in effect now own it?
Does writing the car off mean they in effect now own it?
Asked on 19 January 2016 by Titus A Duxbum
Answered by
Honest John
If an insurer writes off a car and pays the policyholder, the insurer then owns the car which it will then sell on as salvage, usually to a contracted salvage specialist. In this case the insurer is expecting to get 35% of the write off value for the salvage so is entitled to charge your son that amount.
Tags:
insurance
write offs
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