new boy

Does anyone know the rough percentage they use for the redemption figure?


many thanks


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MY93WRX

The current market value as deemed by the glasses guideis the figure used to determinedt the current market value. The percentage is not a set figure it varies for each car/manufacturer. can be as low as say 40% of the value or as high as 95 % for something like a bentley or ferrari that deemes if the vehicle is beyond economic repair. Its down to the cost of parts for example it would be cheaper to reshell say a bently turbo R that to write it off if it rolls, but if a mass produced car needs a new shell not likley to be cost effective to do that.

new boy

ta mate for that..but maybe i didnt make myself to clear..


my insurers ...have mentioned that the buy-back price is normally 10% of the pre-incident value..

ie my bus(my modded uk wagon)..was valued by thier assesor(sp) at circa £4k and so the redemption figure they normally use is 10%..so it would cost me circa £400 notes to buy back.its going to be a cat c or d i think.

does this sound the norm?


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MY93WRX

I work as a claims advisor for NU, we don't deal with the total loss process after the vehicle is deemed a write off we get told the process for NU is as follows the price you pay is the salvage value of the car ie how much our salvage agents will pay us for it, and that depends on if the car is going to auction for parts or scrap or to be rebuilt. Have just had a chat with my co workers and we believeif the car is worth next to nothing then that may well be when the 10% rule applies.