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Flood damge/write off, can I buy back as salvage??


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Car has had some water in it, the carpets are sodden but the engine seems ok. Insurance say they may write it off due to possible damage to the electrics, although they seem fine at the moment. No warning lights etc....and its been nearly 3 weeks since the flood. What I want to know is can I insist on buying it from them as salvage? What potential problems would I then have insuring it etc??

Many thanks in anticiaption of your help!!

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No you cannot INSIST on buying it back as salvage, when they pay you out for a total loss they then own the car and will offer it to salvage dealers (usually on a 'sealed bid' basis). They may or may not have a contract with certain dealers where they get first refusal (since they buy lots of write-offs from them)

 

What you can OFFER to do is match the best price received from the salvage dealers and ASK them to sell it back to you.

 

Since I don't work in under-writing I will leave it for someone more knowledgeable in that area to comment on the potential problems you will have re-insuring it.

 

Mossy

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I dealt with quite a few of these cases when I worked in insurance. In my experience all I did was to ask the engineer if the vehicle could be safely repaired and if the answer was yes then I would give the insured the option.

 

be aware though that the insurer will want to see documentation proving, and to be satisfied, that the vehicle has been made roadworthy before continuing to insure it.

 

sometimes the engineers would say that to repair it is quite possible but also disproportionately expensive and would decline in the belief that a good job could not be made of it given a quote for the repair.

 

As Mossey says, it is at the option of the insurer but they should not refuse if it is reasonable. Its a while since I last worked in insurance so things may have changed, but that is my experience.

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Please be careful here! 95% of flood damaged cars are declared a total loss due to possible contamination which is not easily identified but can cause endless problems a few months down the road. It would be difficult to get insurance cover for this type of damage.

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Please be careful here! 95% of flood damaged cars are declared a total loss due to possible contamination which is not easily identified but can cause endless problems a few months down the road. It would be difficult to get insurance cover for this type of damage.

 

Our motor vehicle engineers write off just about every flood damaged car for just that reason, having spoken with them their advice is not to buy it back but get another vehicle because whilst it may seem OK now in the long run it probably won't be.

 

Mossy

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