Insurance companys and their antics!

Submitted: Saturday, Jan 19, 2008 at 18:55
ThreadID: 53670 Views:2465 Replies:10 FollowUps:8
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Insurance companys have a lot to answer for in my opinion!.regarding motor vehicles, At auctions they have the catergory of Write offs, and bloody repairable write offs!!!. Ok thats fine to a reputable repairer, but the doors wide open for the shonks trying to make a quick buck out of a late mod vehicles .Not only the safety aspect is a issue here, But the buyer that finds he has paid big money for something thats ready to fall apart!. is a drama on its own. The other thing! if a vehicle is written off, then they deem it to be to costly to repair, For them!!!, Then at auctions the vehicle can be sold by them as a repairable vehicle giving them more money and no liability for the said vehicle what so ever.

Cheers Axle.

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Reply By: Footloose - Saturday, Jan 19, 2008 at 19:17

Saturday, Jan 19, 2008 at 19:17
Insurance companies are a pimple on humanities backside!
AnswerID: 282544

Reply By: Shaker - Saturday, Jan 19, 2008 at 19:24

Saturday, Jan 19, 2008 at 19:24
Maybe they think it is too badly damaged for the original owner to go from a nice original vehicle, to one that has had extensive body/chassis repairs .... fair enough I would have thought!

Have you thought about the other things that insurance companies have to put up with, like vehicles with unroadworthy wheels & other components, etc. being changed after the accident to defraud the insurer?
Or vehicles being damaged, hidden, insured & then claimed on?
AnswerID: 282545

Follow Up By: Member - Axle - Saturday, Jan 19, 2008 at 19:32

Saturday, Jan 19, 2008 at 19:32
Yep!, all that and more, My niece has worked for a insurance broker for years , there is two sides to every thing , but its the vehicles released into the seconhand market through this avenue that is becoming a concern i tihink anyway.

FollowupID: 547077

Follow Up By: Shaker - Saturday, Jan 19, 2008 at 19:38

Saturday, Jan 19, 2008 at 19:38
I agree, the true "write offs" should be crushed.
FollowupID: 547078

Follow Up By: Gerhardp1 - Saturday, Jan 19, 2008 at 22:24

Saturday, Jan 19, 2008 at 22:24
Axle, an insurance broker is most definately NOT an insurance company :)

As a qualified AAII I can state that insurance is designed for the cost of a disaster to be spread across many people, and the affected person should be restored to the condition they were in prior to the disaster, or event. There is obviously administration involved, the cost of which needs to be spread as well.

The purpose of insurance is not to improve someone's position after an event, although this is a commonly held belief. In many cases people are better off (new for old) because the cost of manufactured goods continues to fall and wages continue to rise, making repairs uneconomical compared to replacement with new.

Once the insured has been paid or otherwise restored to their previous situation, the subject damaged goods become the property of the Insurance company, not the insured, and this is quite correct. Then the company has the right to sell it, just as you have the right to sell your own property.

Insurance companies also have to contend with extensive fraud which in the end just costs honest people more for their premiums. The occasional few get caught and jailed, but most get away with it.

Are all companies honest? - I'm neither defending nor attacking, just outlining the principles of Insurance as briefly as I can :)

FollowupID: 547112

Reply By: Michael ( Moss Vale NSW) - Saturday, Jan 19, 2008 at 19:38

Saturday, Jan 19, 2008 at 19:38
My belief is that all write-off's sold at auction by Insurance companies should have their VIN"s and all other ID removed to stop crooks using that ID to rebirth other stolen vehicles,, BUT it ain't gonna happen because insurance companies would get lower prices for write-off's at auction.. A small price to pay considering they would have less stolen, highly sought after vehicles stolen every year, but they are too stupid to see that!! Michael
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AnswerID: 282548

Follow Up By: kiwicol - Sunday, Jan 20, 2008 at 19:48

Sunday, Jan 20, 2008 at 19:48
In QLD the wrecks at auction have stickers on them from govt bodys stating this vechicle is for parts only and canot be repaird, the vin numbers are aslo put on the system so they cannot be registered. Go down to your local wrecking yard and you may find these vehicles there with the stickers still attached. Its not the insurance companys that rebuild but shonky panel beaters out for a easy buck. Not saying that insurance cos dont have a lot to answer for. col
FollowupID: 547262

Reply By: Member - Vince B (NSW) - Saturday, Jan 19, 2008 at 20:27

Saturday, Jan 19, 2008 at 20:27
Hi Axle.

With all the floods up this way I bet there are heaps of flood damaged vehicles making their way to the southern auctions.

A quick detail & the prospective buyer is none the wiser!!!.

AnswerID: 282555

Follow Up By: Member - Axle - Saturday, Jan 19, 2008 at 20:36

Saturday, Jan 19, 2008 at 20:36
Not wrong mate!, But so it goes on again.!.

FollowupID: 547090

Follow Up By: Dave B (NSW) - Saturday, Jan 19, 2008 at 20:40

Saturday, Jan 19, 2008 at 20:40
Hint ! Check for mud/gunk under the dash. It's impossible to clean under there.

Experience there. Bought a car once and had no end of electrical problems.
Pulled the dash out and you could grow spuds in there.

That was years ago before everything relied very heavily on electronics.

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FollowupID: 547091

Reply By: Fragle_Rock (VIC) - Saturday, Jan 19, 2008 at 21:01

Saturday, Jan 19, 2008 at 21:01
That's why pre purchase inspections are a must when purchasing second hand vehicles. Any repairs undertaken by shonks or legit repairers will be identified before the hard earned dollars are handed over.

If a vehicle has been written off it will appear when a vehicle securities register check is completed, another must before buying a second hand vehicle.


AnswerID: 282561

Reply By: Mogul - Saturday, Jan 19, 2008 at 21:32

Saturday, Jan 19, 2008 at 21:32
REV's in NSW keeps a record of "repairable write off's" when you ring them they will tell you it's history.
AnswerID: 282573

Follow Up By: Member - Axle - Saturday, Jan 19, 2008 at 21:44

Saturday, Jan 19, 2008 at 21:44
True , but for the actual standard of work carried out on the vehicle, i doubt there would be any guarrantes.

FollowupID: 547101

Reply By: fisho64 - Saturday, Jan 19, 2008 at 23:20

Saturday, Jan 19, 2008 at 23:20
So in actual fact you are BETTER off buying a rebirthed stolen car than a repaired write-off on a given set of VIN#.
Everyone is a winner then, except the insurance company who forked out for the pinched one.
AnswerID: 282614

Reply By: disco driver - Sunday, Jan 20, 2008 at 01:57

Sunday, Jan 20, 2008 at 01:57
Hi All,
More a question than a reply, but still on topic.
What constitutes a "Write Off".

From my experience in the game (OK, many years ago and things might have changed) I think that there are two types of Write Off.

1. When the vehicle is totally crunched (ie; major collision)
2. When the cost of panels/repairs exceeds the market value of the insured vehicle immediately prior to the incident.

I once had a Lada Niva written off for about $500 of panel replacements that were cosmetic only (bent and battered front guards and grill). They paid me out and I subsequently bought it back for $250, bashed out the dents as best I could and drove it for another couple of years with no probs..

That is completely different to a cut and shut done by some backyard yobbo who bought a couple of totals from an auction and tacked them together for some mug to buy..

Just my ideas and no one has to agree with me!!


AnswerID: 282627

Follow Up By: Member - Davoe (Yalgoo) - Sunday, Jan 20, 2008 at 03:00

Sunday, Jan 20, 2008 at 03:00
yep My sister had her POS v8 hq ute on gas run into with a broken rear tail light and it was written off.
She bought it back off of them for less than the payout and i fitted a new rear tail light for $20
FollowupID: 547140

Reply By: Member - Davoe (Yalgoo) - Sunday, Jan 20, 2008 at 02:57

Sunday, Jan 20, 2008 at 02:57
Bloody hell! why pick on MVI
it is far cheaper than health insurance and pays out waaaaaaaaaay better and to boot the GVT hasnt made it effectivly cumpulsory
AnswerID: 282628

Reply By: Member - Bucky (VIC) - Sunday, Jan 20, 2008 at 08:47

Sunday, Jan 20, 2008 at 08:47
Are you not sure it's the " GREEDY " assessors, on huge bonus's from the Insurance company's.

They work together, to bluff, intimidate, stand-over, everyone else associates with that vehicle.

At the same time there are some really good people associated with the Insurance Company's, but the general rule is read your policy, and the Insurance Company's Promotional Properganda.
Quote it back to then and above all else, stand your ground.

I did, even to the threats of being wiped, and to pay the costs of 3 court days, but thanks to a Quality repairer, and an honest Independent Accessor, and top Lawyers ,, 2 1/2 years later we got it fixed.
AnswerID: 282637

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