I have an ongoing liability case in which the third party's insurance has deemed my vehicle a total loss. Its pre-accident value has been placed at £3000 and the salvage at £900. They have sent me an interim without prejudice payment at £2100 to avoid unnecessary storage and vehicle hire charges. I am happy with the pre-accident value but not the salvage value. Do I have to accept this at this moment in time?
Murray Dawkins, email
Even though your bike has been declared a total loss it does have some residual value for salvage, however you do not have to accept the sum offered provided that you have some evidence to demonstrate that a lower salvage value is appropriate. Establishing what a reasonable offer is will be dependent upon the extent and type of damage sustained. It is possible to obtain your own independent assessment of the bike, however there are risks in doing so as an independent assessment could deliver a higher salvage value or suggest a lower pre-accident value. In which case the report should not be disclosed as it would undermine your case and ultimately the costs of obtaining the report would not be recoverable.