BMW 3 Series 330Ci Coupe - Buying back category S write-off

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Mon 18 Mar 2019 19:31
BMW 3 Series 330Ci Coupe - Buying back category S write-off - Marc4Six

My car was involved in an accident last week and my insurance company has just informed me that it will be a category S write-off. I am considering buying it back and repairing, but it appears the insurance company are effectively charging 25% of the value for this, here is the text from the insurance company

"As you are aware the pre-accident value of your vehicle is £3212 and has been agreed by our Engineering and if you want to keep the vehicle we will deduct 25% because your vehicle is a category S Total Loss (structural damages) we will also deduct your £100 Policy excess.

This leaves the payable amount to your self is £2409."

I am currently disputing the valuation, but my query is, is it normal to charge a percentage to keep the car?

Edited by Marc4Six on 18/03/2019 at 19:32

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Mon 18 Mar 2019 20:14
BMW 3 Series 330Ci Coupe - Buying back category S write-off - RT

If you didn't buy the car back, the insurer would pay you the full value, less your excess but would recoup some of their loss by selling the wreck to the trade.

At 25% they seem to value the wreck at £803 which doesn't seem unreasonable.

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Mon 18 Mar 2019 22:34
BMW 3 Series 330Ci Coupe - Buying back category S write-off - sammy1

I feel sure this would be open to negotiation, the insurance cannot guarantee what they might get for an old car. One thing is certain you cannot possibly repair it at this price and get back to what they consider to be market value

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Mon 18 Mar 2019 23:06
BMW 3 Series 330Ci Coupe - Buying back category S write-off - Andrew-T

I am currently disputing the valuation, but my query is, is it normal to charge a percentage to keep the car?

Yes. If you accept the write-off, the insurers pay you what they estimate you need to replace the car you had (market value), and take the damaged car for its salvage (parts) value. If you keep the car they will clearly pay you less. You have to decide whether that amount will cover your repair cost.

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