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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).

Damaged car in body shop

The changes are intended to help used car buyers.

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.”

More technical background / detail on the changes to the Salvage Code can be found here.For more of the latest industry news, click here.

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news.