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Car Accident: Shall I Accept Third Party Offer to Repair the Car


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Insurers have to pay the market value, it would cost you to buy a similar replacement car.

 

The FOS have published information about this.

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

 

There is an alternative option worth thinking about depending on the damage. Because a repair garage would use new parts, a repair would often work out a more expensive option. If you could get the car repaired at a cheaper cost, then you could always negotiate a settlement, where you retained the car. Many people do this, if they can source body parts at cheaper cost and get them resprayed to match car colour. If there is mechanical damage or anything structural, then it is more difficult.

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Insurers have to pay the market value, it would cost you to buy a similar replacement car.

 

The FOS have published information about this.

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

.

 

This is an archived copy of the link as it was before the FOS decided to modernise the page and make it more user friendly by removing the actual information.

 

OP I recommend you read this link a few times as it details how your Insurer should handle valuing your car and writing your car off.

 

Note the FOS expects your Insurer to pay you the retail value of your car which is normally more than you would be able to sell your car for privately.

 

Your new tyres don't really influence the value of the car as replacing tyres is regarded as the normal cost of running a car.

 

http://web.archive.org/web/20150320001942/http://financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

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