Insurers update rules for handling write-offs
Changes to the way insurers categorise damaged vehicles which are salvaged are to come into effect this weekend (1 October).
Intended to offer used car buyers a new way of finding out more about the history of the vehicles, the update to the Salvage Code means vehicles which were structurally damaged but judged repairable will have their registration certificate – known as the V5C – marked with an ‘S’ and the following text: This vehicle has been salvaged due to structural damage but following a technical evaluation declared suitable for repair.
The change is intended to give a clear sign to consumers that they should check repairs have been done to an appropriate standard, by investing in a vehicle inspection or using a recognised car history checking service.
Richard Billyeald, chief technical officer at Thatcham Research, said: “This is about providing clarity to the consumer. The changes have refocused the process of classifying salvaged vehicles away from financial criteria to a categorisation that provides greater insight into the nature of the damage.”