Two Sticks
Free Member
Some help needed, please, by a former but lapsed Member of MH Fun.
Q1. Do Motor Home Insurers have a "Repair Cost vs Value Percentage Rule Of Thumb" when deciding between write-off or repair?
My reason for asking is that I have a professional body shop estimate for repairs of £6.2k for my Motorhome which was badly damaged by a 3rd party. [Long Story: Parked ATT, no-one injured but a nasty rear-end shunt, covered by my fully comp insurance]. Once I have completed a little more homework such as this I shall be providing my Insurers with the full details required for my claim within the next few days,
The current value of my 2001 Swift Ducato [2.8 tdi, 6 berth, <40k miles] MH is ‘uncertain’:
The original Trader ‘telephone-valued’ at £10k three months ago when I was thinking of selling it, therefore my repair estimate indicates 62% of that Trader’s book valuation.
Private sales adverts asking prices, seen during the last 12m, appear to range between £14.5k & a fiver short of £20k for similar models to mine. At those prices the Repair estimate would range from 51% to 43% of the potential private sale value.
This begs a couple of supplementary questions, please -
Q2. When assessing the value of a Vehicle written-off, how do Insurers reach and decide that valuation?
Q3. My situation shows a range of £10K between a Traders valuation and the top price of circa £20k asked for by private sellers - So does an Owner have any/much negotiation space with an Insurers valuation?
Many Thanks in advance!
Q1. Do Motor Home Insurers have a "Repair Cost vs Value Percentage Rule Of Thumb" when deciding between write-off or repair?
My reason for asking is that I have a professional body shop estimate for repairs of £6.2k for my Motorhome which was badly damaged by a 3rd party. [Long Story: Parked ATT, no-one injured but a nasty rear-end shunt, covered by my fully comp insurance]. Once I have completed a little more homework such as this I shall be providing my Insurers with the full details required for my claim within the next few days,
The current value of my 2001 Swift Ducato [2.8 tdi, 6 berth, <40k miles] MH is ‘uncertain’:
The original Trader ‘telephone-valued’ at £10k three months ago when I was thinking of selling it, therefore my repair estimate indicates 62% of that Trader’s book valuation.
Private sales adverts asking prices, seen during the last 12m, appear to range between £14.5k & a fiver short of £20k for similar models to mine. At those prices the Repair estimate would range from 51% to 43% of the potential private sale value.
This begs a couple of supplementary questions, please -
Q2. When assessing the value of a Vehicle written-off, how do Insurers reach and decide that valuation?
Q3. My situation shows a range of £10K between a Traders valuation and the top price of circa £20k asked for by private sellers - So does an Owner have any/much negotiation space with an Insurers valuation?
Many Thanks in advance!