Insurance write off - some help?

**24xtreme** · 6th October 2010, 18:01

Hey guys,

Mean forum you got going here. I am in need of some information.

So i had an 08 RS125 that was declared a write off by my insurance company. In turn they replaced the bike after i paid my premium. The bike has since appeared on TradeMe being sold as used but in repairable condition. There is no mention of the bike being written off. It still has my plates and my modifications on there.

I was worried as i thought i had to sign forms saying the bike is no longer mine however i have received nothing in the mail or heard anything from my insurance company. I bought the carjam report which states that this other company has now registered the bike using my plate. Do i not own that plate still as i haven't signed any forms?

The seller has stated nothing on the auction so would be buyers are actually unaware of the internal damage that once cannot see from the offset. I thought the seller had to declare it was an ex insurance write off?

If anyone can shed some light on this it would be most appreciated.

Btw: the auction has 2hrs to go and is on $2,700

Thanks
Rhys.

**EJK** · 6th October 2010, 18:03

Is this it?

http://www.trademe.co.nz/Trade-Me-Mo...-320877160.htm

**24xtreme** · 6th October 2010, 18:06

Yeh thats the bike.

**Latte** · 6th October 2010, 18:07

check the trademe sellers name, seems to be a common theme with him and being economical with the truth.

**Jonno.** · 6th October 2010, 18:09

I'm pretty sure by signing over the money you release ownership of the bike.

**Genie** · 6th October 2010, 18:10

OH him again....I've seen this going on now for quite some time.

**Kickaha** · 6th October 2010, 18:11

Originally Posted by 24xtreme

I thought the seller had to declare it was an ex insurance write off?

Ask the question on his auction and see if you get an answer

**Jonno.** · 6th October 2010, 18:12

I don't see why he would have to if it wasn't de-registered. Would probably show up if you brought the car jam report?

**24xtreme** · 6th October 2010, 18:13

I did ask him a question, earlier. look on the auction. He blocked me as well after i asked the question.

**Renegade** · 6th October 2010, 18:13

if it wasn't de registered then technically it wasn't a "write off" just not economical for insurance company to repair

**Genie** · 6th October 2010, 18:14

It was stated on questions that this bike was an insurance write-off to which sellers denies that by saying it would be re-reg'ed?????

too slow, Renegade got their first.

**White trash** · 6th October 2010, 18:15

Originally Posted by 24xtreme

I did ask him a question, earlier. look on the auction. He blocked me as well after i asked the question.

Well he's about to block my missus too

It's not your problem dude, don't stress.

**DMNTD:Me** · 6th October 2010, 18:18

I think you will find that the bike was "financially written off" which happens very quickly if you crash/own anything European due the the cost of the replacements parts plus the time it can take for the parts to be sourced via 'legitimate' means.
I have seen late model Aprilias financially written off with SFA wrong with them.

**davereid** · 6th October 2010, 18:18

The law of unintended consequences applies here. When you make an insurance claim, for the duration of the claim, the vehicle is deemed to be the property of he insurer. In this case the insurer has paid you out, and you have no further legal interest in the vehicle.

I was surprised to see it advertised for sale after being written off - normally insurance companies are very careful to de register written off vehicles..

However, NZTA has a big problem due to this.

Consider..

Joe has a $3000 vehicle, which he crashes after a few beers, or he doesn't check the water and it overheats, or it is just full of rust. The vehicle is now of scrap value only, maybe $400.

Fred has the same make and model, in good condition, but gets behind in his rego, and needs to Re-Vin.

Fred needs to find $600 in back rego, and pay $600 for a VIN recheck. Assuming he passes first time, he is already down $1200, and he wont pass first time. In reality he will be down $1500-$2000.

But he can buy Joes car. For $400. Now he has a new number plate and VIN tag, for only $400.

He will still get $400 for the wreck, sans VIN Plate, so it actually cost him nothing.

And he can cherry pick the best tyres, keep a spare alternator etc etc.

NZTA never see it. They write off the chase for fees on a "dead" vehicle. Have no way of tracing the rebirth, and both buyer and seller, are quids in.

NZTA compile an end of year report, assuring the government that the vehicle register is accurate and complete.

Job done.

**24xtreme** · 6th October 2010, 18:24

Originally Posted by Dumpty

I think you will find that the bike was "financially written off" which happens very quickly if you crash/own anything European due the the cost of the replacements parts plus the time it can take for the parts to be sourced via 'legitimate' means.
I have seen late model Aprilias financially written off with SFA wrong with them.

So my insurance paperwork states: Total Loss.

What does total loss mean in regards to insurance?