Hi guys, a curly one and hoping someone can fill me in. I haven't had an accident but the glass half full me always wonders this. If your car gets hit etc and written off, insurance will pay you out (no issues) as I have full cover. Does GIO etc help you get another Tesla quicker than the ordinary purchase waiting time? I need mine for work so if anything happened, waiting 6-9 months (this is a guess as unsure of current wait times) is a massive issue. Has anyone heard of anyone going through a written off car and time to get a replacement?
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Question about replacing a Tesla in an written off accident
- Thread starter demaw
- Start date
E90alex
Active Member
Many policies have a 'new for old' replacement program for vehicles up to 2 years old, mine does.
The only limitation is if it takes too long to source the replacement they may chose to pay you out instead...
The only limitation is if it takes too long to source the replacement they may chose to pay you out instead...
New for old is available for up to 4 years with some insurers, generally on prestige cars
I also think about this time and again.
One reason I go with market value with brand new cars is sometimes they would repair a vehicle if it's only slightly cheaper than agreed value. There is a part of me that want to get a payout lower than its value than have an 'almost written-off' Tesla get repaired. Any vehicle that's been half rebuilt will have poor resale, and not to mention questionable safety / performance from that time.
If in 12 months it gets crashed and get a $60k payout (of a $72k brand new Model Y), I think I might prefer that than getting it repaired.
One reason I go with market value with brand new cars is sometimes they would repair a vehicle if it's only slightly cheaper than agreed value. There is a part of me that want to get a payout lower than its value than have an 'almost written-off' Tesla get repaired. Any vehicle that's been half rebuilt will have poor resale, and not to mention questionable safety / performance from that time.
If in 12 months it gets crashed and get a $60k payout (of a $72k brand new Model Y), I think I might prefer that than getting it repaired.
No insurer will spend $60k repairing a $72k replacement cost. Just too much risk for them with unknown costs that come up during a significant repair. At that ratio it would be written off to remove risk.
