rider Posted June 10, 2023 Share Posted June 10, 2023 As I drove around today in the beast basking in the quiet sunlit roads I wondered how much I'd be prepared to pay the insurer in the event of a accident write off for the salvage. There are some great parts for sale ads running at the moment from £1,500 for a scrap quarter panel, £500 for an aerial, £450 for those black block rear number plate surrounds, £400 for a fuel door, £100 for a throttle cable and even £80 for a pair of wiper arms. So I worked out a scrap TT6 Supra with lots of resalable body parts not crash damaged has to be worth £30k in parts so I'd probably offer the insurer up to £12k to get the car back. Has anyone bought their or another salvage Supra recently to know what insurers are looking for as a salvage price. We buy any car say the car must be a perfect runner and in pristine condition to get £260. 1 Quote Link to comment Share on other sites More sharing options...
The Raven Posted June 11, 2023 Share Posted June 11, 2023 I thought about this. Comes down to 2 options. 1. Is it repairable? Im convinced any form of crash at anything over 15 mph front back or side its getting written off. Hit from behind? Probably isnt a hard fix. Id attempt to buy it back and fix it. 2. Its hit in the front and bent some stuff. Personally id call Keron and see if we could come to a deal where i buy it back he buys it from me. The thought of having a supra sat and attempting to strip it myself would be a nightmare Price wise they say a CAT N is worth between 20 to 40% less repaired. Supra is insured for 30k. Id doubt insurance companys have any idea about switches being worth £500 etc. Id offer them Low low low figures. I have salvage rights on my car insurance but i will admit i have no idea how that works Quote Link to comment Share on other sites More sharing options...
blythmrk Posted June 11, 2023 Share Posted June 11, 2023 The issue is parts availability so pretty much instant right off now Quote Link to comment Share on other sites More sharing options...
rider Posted June 11, 2023 Author Share Posted June 11, 2023 I did find a classic car hypothetical on acquiring the salvage on the Hagerty brokerage website. First up the insurance policy usually needs to have this as an option. The example gave a salvage value of a written off classic car as 20% of its agreed insurance value which is precisely where my £12k I'd be comfortable with lands on my £60k agreed value policy. Quote Link to comment Share on other sites More sharing options...
The Raven Posted June 11, 2023 Share Posted June 11, 2023 3 hours ago, rider said: I did find a classic car hypothetical on acquiring the salvage on the Hagerty brokerage website. First up the insurance policy usually needs to have this as an option. The example gave a salvage value of a written off classic car as 20% of its agreed insurance value which is precisely where my £12k I'd be comfortable with lands on my £60k agreed value policy. My agreed is 30k. 6k? yeah im buying it back all day long Quote Link to comment Share on other sites More sharing options...
SupraAyf Posted June 11, 2023 Share Posted June 11, 2023 5 hours ago, rider said: I did find a classic car hypothetical on acquiring the salvage on the Hagerty brokerage website. First up the insurance policy usually needs to have this as an option. The example gave a salvage value of a written off classic car as 20% of its agreed insurance value which is precisely where my £12k I'd be comfortable with lands on my £60k agreed value policy. Interesting that you mention Hagerty as they sent me an insurance quote on Friday to say that they will only cover my Supra for laid-up cover and not for driving on the roads. Their underwriter has stipulated that the parts list on my Supe is far too costly to cover as a road car so it's garage-only for me. It looks as if some insurance companies are catching on to this whole parts-thing. Quote Link to comment Share on other sites More sharing options...
rider Posted June 11, 2023 Author Share Posted June 11, 2023 I've been with Hagerty for a few years, they don't like mods at all. A non stock exhaust and road wheels gets them sweating. Quote Link to comment Share on other sites More sharing options...
AntD Posted June 14, 2023 Share Posted June 14, 2023 I recently had a claim settled after a lengthy battle with the insurer as I disagreed with their valuation of my car.I was also not happy about the percentage of the settlement amount they attempted to hold back as salvage value. The car was involved in an accident September 2021 and claim was finally settled only a few weeks ago.Their initial valuation of my car was 17.5K and they wanted to retain 45% of that as salvage value.Eventually got to a final settlement of 20K and salvage value of £5950(29.75%). The assessor who came round to look at the car said he would have easily put value of 25K plus if the bodywork and interior did not require so much TLC. To be fair he wasn't wrong.I have been looking to get the car fully restored for a while.This now is a great opportunity for me to get the ball rolling with the restoration.They also sent me a cheque for a few hundred quid as compo for the long time it took to settle the claim. 1 Quote Link to comment Share on other sites More sharing options...
rider Posted June 14, 2023 Author Share Posted June 14, 2023 30% salvage sounds a lot, I wouldn't want the hassle of storing/stripping a wrecker at that valuation. Quote Link to comment Share on other sites More sharing options...
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