How can they write it off ?

[ltd_on20s]

mate i work for SGIC. they are affliated with nrma/sgio/cgu/swann etc etc. if you had agreed value and you can show the car is worth more then the agreed value usually they will pay you the higher price, if you have market then its what the market dictates. if you have agreeed and the market value is lower they will pay you the market value price no matter what becuase thats what you have been paying a premium on

most cars have what they call a 1$ 2$ 3$ value with 3 being the highest value. your car being pristine they would work off that figure HOWEVER, they may do an ECONOMIC write off of your vehicle not a statutory write off which means you can still get the car fixed. you'll find fitting two new airbags is close to 2.5 k in itself as you cant use 2nd hand steering wheels and stuff like that.

with sgic and i think nrma work the same way, is that if the vehicle is over 15 years you can keep the salvage, however if like in your case it is not, they pay you out your car, less any premium still owing, and keep the car and sell it off at auction. the main reason this is done is so that they recoup some of the money thye have paid you out for yours. basically if it didnt work that way you'd be paying 4x as much for insurance. to get your car back you will have to bid against others at the auction.

the clown that wasnt insured will be paying that back for donkeys years. however you'll most likely be out of pocket a little bit but at least thye will pay you most of it and you can get on with life.

if and when you speak to an assessor depending on who you are insured with make sure you take all your reciepts with you as proof of the work you have done. they do take it into account.