When a vehicle is damaged in an accident or a natural event eg. hail damage, the extent of the damage can mean that it is a write off. This classification is used by insurance companies when they consider repairing the vehicle unsafe or not financially viable.
So, what factors determine whether a car is declared a write-off in Australia?
I’m insured! Is my car written off?
After an accident, the insurance company managing the claim will send a qualified assessor to evaluate the vehicle and estimate the cost of repairs. During this assessment, factors considered include the availability and cost of necessary spare parts, the vehicle’s age, and whether repairing structural damage would compromise its safety.
The assessor compiles a report detailing the repair costs, which is then provided to the insurance company.
If the cost of repairing the car reaches approximately 50% to 70% of the vehicle’s total value, the insurance company often deems it a statutory write-off. However, there are cases where the repair costs may be lower than this threshold but the vehicle is still classified as a write-off. This can be due to repairs being considered uneconomical or posing a safety risk, as assessed by the insurer.
Once a vehicle is classified as a write-off, the insurer will provide a payout to the owner, accounting for any applicable excess fees. The specifics of this payout depend on the terms of your insurance policy.
Depending on your policy and insurance provider, the insurer typically retains possession of the written-off vehicle to sell it to an auction house or cash for cars company. In some cases, you may have the option to purchase the written-off vehicle from the insurer for personal use or resale.
If you’re not happy with the settlement offer, you can negotiate with your insurance company or file a claim with your the NSW insurance authority, SIRA.
What if my car isn’t covered by insurance?
In the case that you don’t have insurance coverage, you can call a smash repairer for a quote for the repair of your car. If the cost of repairing the car reaches exceeds 50% of the vehicle value then it’s generally considered a write-off. Even if it could be repaired, it’s simply not financially worth it and it would be better to sell the wrecked car and buy a new one.
The best option in this case is to sell your written off car to a cash for cars company such as Metro Car Removal. You’ll be able to get the car removed for free and get extra cash for your vehicle. How much cash you get for your written off car depends on its condition, make and model.
You might consider selling individual parts privately but it is much easier to sell your damaged car to us, just give us a call!
Can I repair my written off car?
in NSW once your insurance company lists your vehicle in the Written-Off Vehicles Register (WOVW) it cannot be legally repaired or re-registered except under exceptional circumstances. Even if your car is not covered by insurance we recommend not repairing for safety and financial reasons.
Contact us for a free quote
If your car has been written off and you need it removed ASAP, give us a call and we’ll offer you a competitive cash offer for your written off car.
