What You Need To Know About Santam Car Insurance Write Off

What Is Car Insurance Write Off?

Car insurance write off is a term used to describe the situation when an insurer decides that a car is beyond economical repair or is too expensive to repair and therefore decides not to repair it. Instead, the insurer will pay out a cash settlement, typically the value of the car at the time of the accident, minus any policy excess that is due.

This is usually done when the cost of repairs is deemed too expensive for the insurer to bear. The valuation of the car also takes into account the age, condition and mileage of the vehicle at the time of the accident. As a result, the cash settlement is usually much less than the actual value of the car.

What Does It Mean for You?

If your car is declared a write off by the insurer, you won’t be able to use the car again. You won’t be able to repair it, sell it or even use it as a trade-in when you buy a new car. The vehicle must be disposed of in an environmentally friendly manner.

The cash settlement you receive from the insurer may be enough to buy a new car, but it’s important to remember that this amount may be less than the actual value of your car at the time of the accident. You should also bear in mind that the cash settlement will not cover the cost of any accessories that you may have fitted to the car, such as a satellite navigation system or a special sound system.

What Does It Mean for Santam Car Insurance?

When an insured vehicle is declared a write off by Santam, they will pay out a cash settlement to the policyholder. This amount is typically the value of the car at the time of the accident, minus any policy excess that is due. Santam may also offer additional benefits such as a replacement vehicle or a hire car to help policyholders while they are without their vehicle.

Santam also offers a number of additional services to help policyholders manage their car insurance write off claim. These services include providing information about the disposal of the vehicle and helping to arrange a replacement vehicle if required.

In Conclusion

Car insurance write off is a situation where an insurer declares a vehicle to be beyond economical repair or too expensive to repair. In this situation, the insurer will pay out a cash settlement to the policyholder, typically the value of the car at the time of the accident, minus any policy excess that is due. Santam offers a number of additional benefits and services to help policyholders manage their car insurance write off claim.