What is a Car Write-Off?

Crash, bang boom! The driver makes a wrong split-second decision and the result is a car being written off. Although it is tough to say farewell to a trusty set of wheels in a car write-off, it is very often the best decision for you as the owner and for your insurance company.

If the damages exceed what the car is worth, the insurance company will write off your vehicle. That’s because it’s not economically viable to restore the vehicle back to its original roadworthy state. An assessor will determine the extent of the damage, look at the availability of parts.

He also considers the age and condition of the vehicle before deciding for or against a write-off. If it is indeed a write-off, you will get cash to the value of the insured amount of your vehicle, minus the excess fee.

The Outsurance Approach to a Car Write-Off

Once Outsurance approves a write-off, the company will continue to process your claim. You must supply the original registration forms. They also need a signed change of ownership forms. If there were no financing, a signed disclaimer is necessary if you prefer to fix the vehicle in your private capacity, thus releasing Outsurance from responsibility from any further damage. But experts advise against this as the vehicle is a write-off. If you have finance for your car, the decision to write off will go ahead as your vehicle belongs to the bank.

After the Claim

When Outsurance has settled the claim, they will transport your vehicle to the salvage contractors. They will conduct the change of ownership in Outsurance’s name. The car will be auctioned off by salvage contractors. If you decide you want to “buy” back your vehicle, you will need to attend the car auction and make an offer.

If you are involved in a collision or bumper bashing incident, here are three tips on what to do:

1. Never drive away from an accident scene, even if there is no immediate visible damage.
2. Repair your vehicle as soon as possible. Delayed repairs, especially with bumpers, can cause more damage during the delay.
3. Report the incident to the police and your insurance company, even if the damage was minimal.

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All info was correct at time of publishing October 22, 2018