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Handy or hazardous? Almost 4 million Aussies service their own cars to save money
Millions of drivers are performing repairs on their vehicles to save some cash, according to new research by Finder.
Read more…When you take out car insurance, you sometimes get to choose between insuring your car for its market value — a figure based on what your insurer estimates your car was worth — or an agreed value, a specific amount you and your insurer agree on. With agreed value, there's less chance of you being underinsured, but your premiums are likely to cost more.
Agreed value policies typically cost more for two reasons:
In addition to this, agreed value policies are not always available from standard car insurance providers. Agreed value may be available as an extra option that carries additional costs.
Pros:
Cons:
Pros:
Cons:
The right policy for you depends on your situation and you should always consider the benefits and drawbacks of each policy in line with your own needs. However, if you’re having trouble deciding, try considering the following situations:
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Millions of drivers are performing repairs on their vehicles to save some cash, according to new research by Finder.
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Can an insurer write-off and cancel the licence on a vehicle without advising the owner?
After hitting a kangaroo, we checked car, all well safety wise, bar both headlight glass broken lights still good. bonnet bent but still locks , tracks straight , stops straight.so drove over 300 kms home. The repair cost was within a few hundred dollars of their write-off amount. We were still contesting their payout amount & driving the car, as vast distances are involved.
On the 1/03/2018 in the mail, we were informed by Department of transport that on 21 /02/2018 the licence had been cancelled, and unbeknown to us, we had been driving a unregistered vehicle.
We did agree to have the car repaired at no extra cost to the insurer on the 1/03 /2018 after a phone conversation with the insurer, Cash Settlement to be made, vehicle to be left REGISTERED. We keep salvage of said vehicle.
Is there anything we can do to have the insurer have the car registered so we can have it repaired? We are 900 kms from a major city , to licence a written-off vehicle we will need to have the car carried to an inspection point that is accredited by dept. of transport to pass inspection , as there is no accredited repairers for written off vehicles anywhere near us.
Hi John,
Thanks for reaching out to Finder.
I’m sorry to hear that you were taken by surprise that your vehicle was registered as a repairable write-off and that the registration was canceled. The Motor Vehicles Regulations 2010 didn’t specifically state whether the insurer needs to notify the owner before it gives notice to the Registrar in relation to the vehicle’s assessment. They are, however, mandated to notify the Register within 7 days from when the determination is made by them to write off the vehicle. Time constraint could be a factor why you weren’t informed beforehand. You can ascertain the exact reason from your insurer directly. You can also call VicRoads on 13 11 71 to discuss your concern about the vehicle written-off process.
As to re-registering your car, you need to have it repaired and assessed as roadworthy during the VIV inspection first before you can register it again. You can reach out to VicRoads Vehicle Fitness Section on 1300 360 745 to discuss the technical requirement of the VIV inspection. You might also find VicRoads’ written-off vehicles FAQs informative.
Now, regarding the repair costs and settlement, it’s a good idea to have those in writing just in case you will need them along the process. Moreover, you can also seek professional advice on the matter.
I hope this information helps.
Cheers,
Liezl