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Now my cars(yaris sedan 2006) all wrecked up in an accident which was not my fault.My que is,I have the car insured for around 20grand.Will the insurer value it with market price or will he pay me the insured sum in case its total write off?What happens in case of a repairable write off? Ta guys.

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Now my cars(yaris sedan 2006) all wrecked up in an accident which was not my fault.My que is,I have the car insured for around 20grand.Will the insurer value it with market price or will he pay me the insured sum in case its total write off?What happens in case of a repairable write off? Ta guys.

Depending on what you agreed with your insurer when you first signed up with comprehensive insurance( that is, agreed value), you will get paid out the $20,000. However if the cars total damage equates to $10,000 or less, they will repair it for you. If the damage is more than $10,000 you will get paid out the $20,000.

Edited by Charlie Trout
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different insurance companies have different regulations. if the repair bill is more than a certain percentage of the agreed value (in your case its 20,000), they will pay u out the 20,000. you have to wait until they assess it and then contact you to inform you what will happen.

good luck mate

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If you are unsure what you signed in your policy, now would be a good time to take out the documents, otherwise call your insurance company. Now would also be a good time to make a mental note to read your policy documents before entering an agreement. Last thing you want to do is shoot yourself in the foot because you did not pay attention to what you agreed to.

Some companies like AAMI for example will set up up on default with a "Agreed value or market value, whichever is greater" type coverage. A situation like this is pretty much as good as an Agreed Value unless of course your car gains value. Hopefully this, or the Agreed Value option is what you have agreed to because this would result in a better payout in your case should it be written-off.

As for whether you car is a write-off though, that all comes down to them at the end. If they truly think it is more economical for them to write it off then recover most of their losses through auction etc, then that's it, you get your money (minus any excess). Otherwise they will do the repairs and you get your car back. There is no real set amount underneath the Agreed/Market value where they decide to draw the line, so estimating the repair bill to be 50%/60%/75% of the car's value won't always determine if it's a repairable write-off.

That's a case of a repairable write-off though. A Statutory Write-off however would obviously result in a payout. To be considered that though, you usually have to have some crucial damage to the car.

This though is all provided that you are eligible to be covered. If you have done anything to your car that is not stated on your policy documents and they find this out, or if you were doing anything illegal at the time and/or not complying with the regulations stated in your policy, then you will not be covered.

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i'd say thats a write off as there's some heavy structural damage. it still looks as though it would be repairable

what djkor has said is pretty much bang on. however, if you have renewed your policy at least once, then double check your sum insured. insurers depreciate your sum insured in line with the glasses guide, each time you renew your cover (no one uses redbook because its ***** and inaccurate). so in short, if you had a sum insured of $20000 last year, your sum insured after renewal may be $17500 (as an example).

so as previously mentioned, make sure you read your policy schedule to ensure the information is correct. because if it isnt, and you have still been paying the premium and accepted the renewal, this shows you have agreed to the current terms and will only get paid whats stated on the policy, regardless of whether your car may be worht more or less.

but all this is just as an FYI. wait for the assessors call and check your policy, and hopefully it will all be ok!

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I am not entirely sure that is a write off....

The entire front end of a yaris is removable (at least on the hatch, not sure why the sedan would be different)

These cars are quite cheap to repair as well, so if you are indeed insured for 20K, it would take a LOT of damaged to even get halfway there.

I may be wrong, and only have those two photos to base my judgement on, but don't be surprised if they repair it.

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I was speaking to my panel beater the otherday and he was telling me the new rules in NSW because every car in the auction's are going under statuatory ride off for your car to be taken away from you it has to be 85% damaged.

Thats what i heard aswell...

85% Vehicle damage = super injuries,,,,,

Then again, Theres always loop holes. You may even get a write off for 50% of Damages....

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I was speaking to my panel beater the otherday and he was telling me the new rules in NSW because every car in the auction's are going under statuatory ride off for your car to be taken away from you it has to be 85% damaged.

Thats what i heard aswell...

85% Vehicle damage = super injuries,,,,,

Then again, Theres always loop holes. You may even get a write off for 50% of Damages....

Its a toyota yaris the whole front end pretty much holds on from clips, as mick was saying sedan is same as hatch i have striped my freinds one with him any impact will cause it to look serious, im 80% sure its getting repaired.

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Well ignorance is bliss guys and i never really had time to look at these finer details.Like some of u correctly said the amount depreciates on renewal and it steadily depreciated in 3yrs to 15709 and thats what I will get as assessor said car is TWO. ANyway for me,this is more than I could get than selling it so praise God. Im not hurt and thats most important as humans bodies are difficult to dent and paint and far more expensive. Thanx for all ur input and concern. Cheers

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Well ignorance is bliss guys and i never really had time to look at these finer details.Like some of u correctly said the amount depreciates on renewal and it steadily depreciated in 3yrs to 15709 and thats what I will get as assessor said car is TWO. ANyway for me,this is more than I could get than selling it so praise God. Im not hurt and thats most important as humans bodies are difficult to dent and paint and far more expensive. Thanx for all ur input and concern. Cheers

15.7K isnt too bad.. like you said, the main thing is that your ok :)

EDIT: Did the assessor tell you how much the damage is worth?

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Its a toyota yaris the whole front end pretty much holds on from clips, as mick was saying sedan is same as hatch i have striped my freinds one with him any impact will cause it to look serious, im 80% sure its getting repaired.

Thats true, its pretty much clips, there must have been severe damage under the bonnet hence the reason the car is a Total Write Off...

Theres no ways thats 85% of damage. The OPs must be with a good Insurance Company :D

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Well ignorance is bliss guys and i never really had time to look at these finer details.Like some of u correctly said the amount depreciates on renewal and it steadily depreciated in 3yrs to 15709 and thats what I will get as assessor said car is TWO. ANyway for me,this is more than I could get than selling it so praise God. Im not hurt and thats most important as humans bodies are difficult to dent and paint and far more expensive. Thanx for all ur input and concern. Cheers

15.7K isnt too bad.. like you said, the main thing is that your ok :)

EDIT: Did the assessor tell you how much the damage is worth?

No the assessor mustve told the insurance guys.As far as im concerned,thank god its a TWO,as I wouldve have not got more than 10k if I tried selling it.So its all good.What does OP mean? I am with real insurance and theyre really good.From when I called them to the settlement,they made it really smooth.Ive heard horror stories from some of friends about other insurance companies.REAL is GOOD!

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No the assessor mustve told the insurance guys.As far as im concerned,thank god its a TWO,as I wouldve have not got more than 10k if I tried selling it.So its all good.What does OP mean? I am with real insurance and theyre really good.From when I called them to the settlement,they made it really smooth.Ive heard horror stories from some of friends about other insurance companies.REAL is GOOD!

Any thoughts on what car your planning to get next?

I do recall you were planning to get an SUV???

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