ok, this is what Suncorp said. 1. If I make the claim via my insurer, the claim is against my policy. They will assess and repair if the cost of repair is less than the market value etc. If the car is a repairable write off, they pay me out, keep the car and teminate insurance keeping the premium. In this way I would be considerably out of pocket as the not at fault driver if the car is written off. I am not entitled to a hire car via my policy but I can claim a hire car against the at fault driver via my insurer which is still suncorp.
2. If the car is a repairable write off, I could take the payout then buy it back for salvage value but still lose the rego and insurance. This seems like the most expensive options as the payout might meet the cost of buyback then I'd have to pay for repairs too. Won't take this option if it is offered.
3. If the car is a repairable write off, I could ask for repairs to be done to make it road worthy if it comes in less than the market value in which case I keep the policy and the rego going but then I still have a busted up car through no fault of my own and have to pay for the rest from my own pocket.
4. Wait to see what the assessor says. If they repair it - fantastic. If they want to write it off I can cancel the claim, and submit the claim to the other insurer as a 3rd party claim....or pay for repairs and car hire myself then send the documentation/bills to the at fault drivers insurance (same company). If it looks like a repairable write off, get I can get my own quotes (and say it's not insurance so it's not stacked). If those quotes come in under the insurance quotes, submit that and tell them I want it repaired. If they still want to write it off, withdraw the claim and submit it via 3rd party's policy. That will add 2 weeks to the claim. However, you still get to keep your premium if it's written off because the claim is not against my own policy, therefore they have not fulfilled their legal obligations and have to pro-rata payout or transfer to a new title.
The offer price for a write off is negotiable. Salvage is possible via either my own policy or 3rd party. Either way they keep the car if it's written off unless I buy it back under salvage.
I have to look at the insurance certificate but apparently I looked at the wrong market value on redbook. Should be looking at caryard and private sales not wholesale which puts the value up considerably which is great. My brother (who owns a skyline ;-) says there's not enough damage to write off which is a big phew! Let's hope that it gets repaired. Guess we'll see on Monday.
Cheers for all your help. Helped to ask the right questions of the insurer and since it's all recorded these days, they can't lie. In fact the people that I spoke with were very helpful indeed going through all the options that might give me the best outcome and even to my surprise said that their offers are all negotiable. I thought that was pretty good after all the bs that my brother went through went some A**hole ran up his trucks bum when it was parked.
Cheers,
Mel
PS I'm still embarassed about the $3 car typo. I sound soooo cheap.
