write off values - Mark M
I am wondering how insurance co's work out how a car is a write off or not re it's value. My Honda Accord is worth about £5000 now smashed up with maybe £3000 repairs inc labour. Will this be a write off and ifit is repaired how will this affect it's resale value.
Re: write off values - Simon
To establish whether a car is a write off or not insurance companies tend to work on a percentage basis using the cars value. Different insurance companies do differ quite a bit but typicaly this figure is up to 80% of the pre accident value. Hence if your car is worth £5000 in THEIR opinion they may authorise repairs up to a total cost of £4000.

Other factors do also influence the decision such as the availability of the parts, for example if you drive a Yugo and just smash the front bumper it will be written off because you can no longer get parts for them.

The resale value of the car in theory should not be affected if the work is done to the correct standard as it should be not be obvious to the man in the street that any accident repair work has been carried out. Only to the trained eye should it be possible to tell that there has been an accident repair, but like I say this is technically how it should be and often does not happen through cut corners and bad workmanship.
 

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