Write Off Valuation - How to get an accurate one!

Write-off Valuation For Insurance Purposes

When you’re going through an insurance claim, it’s wise to get an idea of how much your car is worth if it’s written-off. There are a few different methods to getting a write-off valuation, so we’ll outline them here.

 If your vehicle is written-off, your insurer is required to payout enough to cover a like-for-like replacement of your vehicle, in the area in which you live. Your insurer will likely calculate this value by using one of 3 valuation systems in the UK. They are GLASS, PARKERS or CAP. This valuation is used as a baseline, and adjustments are applied; based on your vehicles pre-accident condition, and optional extras.

 So now you understand the process, how do you get an accurate write-off valuation? Quite simply you can access the 3 valuation systems online for a small fee, giving you a good estimate for what your insurer should pay you for your claim. Or better still, you can use CarCrashProfit’s valuation tool which takes an average of all 3 systems - and gives it to you for free! All while giving you some great tips on how to earn more from your insurance claim.

 Write-off Valuation For Repaired Vehicles

 If you are looking to get a valuation for your previously repaired write-off, unfortunately it’s not quite so simple! The value of a repaired car varies wildly, depending on its damage category and how desirable that particular vehicle is considered.

 Let me give you an example. Two vehicles, both with a pre-accident value of £10,000, one a BMW 3 series, and the other a newer Renault Clio. Both are written-off and designated as a category S. Once they are both repaired, it’s highly likely that the BMW 3 series will fetch a higher price than the Renault Clio, because it’s considered to be a more desirable vehicle.

 So when it comes to an online write-off valuation that takes into account your vehicle’s prior damage category - I'm afraid you’ll be left wanting! Currently there are no online services available on the market. But don’t despair, there are a few tricks you can employ to get a rough idea of your vehicles value.

 The Rule of Thumb

The rule of thumb method is a quick and simple way to get an idea of your car’s repaired value. Simply find your vehicles pre-accident value, and apply the following adjustments, based on your vehicles damage category. For a Category N write-off, deduct 10 to 20%. For a CAT S write-off deduct 20% to 35%.

 Data Data Data

Your other option to help you arrive at a write-off valuation is to use an online car buying tool such as Autotrader. You may be lucky enough to find similar vehicles to yours for sale online. If you can find enough similar vehicles to yours, it’ll give you a strong indication of what your vehicle might sell for.