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Getting Rid Of Your 3rd Party Insurance Salvage

There are some cost savings by purchasing 3rd party insurance rather than fully comprehensive, but the real fall back is when an accident occurs that is your fault and the insurance company won’t pay out.

Thousands find themselves in this situation every year and end up with what is a salvage project in their garage, that is moving nowhere very fast.

front crashed BMW

The good news is there are buyers out there, namely auto dismantler yards who are always looking out for vehicles involved in a road traffic accidents, especially if the damage is limited to one part of the vehicle, leaving valuable resalable parts on the rest.

How Auto Dismantler Yards Normally Source Insurance Write Offs

When a vehicle has been involved in an accident and the insurance company has chosen to pay out on the policy, the vehicle then becomes the insurance companies’ property. They regain back some of that pay out, by sending the vehicle to a salvage auction, where those in the trade will bid for.

Some of these auctions are open to the public too, but only certain salvage vehicles can be bought outside of the trade, normally with a C, or D salvage title.

These auctions can be quite expensive, it is quite ironic that the car that was driving around on the road a few weeks ago, may have been worth less then, than as a salvage write off at auction.

Selling Your Insurance Write Off

OK time to be honest a 3rd Party insurance vehicles are in theory not a write off. There has never been an uneconomical to repair tag applied to the vehicle, so also do not have a salvage title. This can be quite desirable for certain auto breaker yards, especially if the vehicle is relatively new.

To get a good price for such a vehicle, a little time needs to be spent identifying what is still good on the vehicle. Let’s be honest, the trade price book goes out the window as soon as a vehicle is involved in an accident as no two accidents are the same.

Look at the wheels, engine, seats, electrical and electronics to see what is re-usable. If you are very lucky and your airbag system is still in-tack, make sure the trader knows it is. If there is a shortage of any parts for a newer vehicle, it is the airbag kit, as these tend to be the first thing to fire even at low speed impacts.

Take photos and email them to the dealer once a conversation has been started and do not let it just rust or look down at heel.

Salvage Repair Mechanics

There are bands of mechanics that buy salvage cars (ideally without a title) with the intention to repair and take back to the road. Privately owned 3rd Party insurance accident damaged vehicles can be a prime target. So advertising your vehicle, using the same media you would if it were good, explaining the damage may get you top dollar return. But it can take some time for the right buyer to find your vehicle, as these buyers try to buy stock they have good access to replacement parts.

Unfortunately for most having a vehicle that can’t be driven is just a wasted asset and the quicker it is gone the better. So the auto breaker yard is the most likely place it will end up, with a quicker payment.

You can complete a form here just as you would and older vehicle; just take a bit of time explaining all the positives of the vehicle.