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Old 14.01.2015, 20:54
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Car insurance payout

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Few months back a neighbor scratched my car, little scratch, left me the details, announced the accident.

Insurance asked me to go to a garage for a quote. I did, got a quote for 4500 CHF. Insurance said they can either fix it for me or pay me out. I said rather pay me please. They wanted to see the car at the garage for their expert to see it. That was done.

Now I receive I letter from them asking me for my bank details to transfer me 3000 CHF.

Now. Is 3000 the normal payout or should be more? Why isn't it 4500? 3000 sounds very low to me.
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Old 14.01.2015, 21:12
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Re: Car insurance payout

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Searched the forum but found nothing

Few months back a neighbor scratched my car, little scratch, left me the details, announced the accident.

Insurance asked me to go to a garage for a quote. I did, got a quote for 4500 CHF. Insurance said they can either fix it for me or pay me out. I said rather pay me please. They wanted to see the car at the garage for their expert to see it. That was done.

Now I receive I letter from them asking me for my bank details to transfer me 3000 CHF.

Now. Is 3000 the normal payout or should be more? Why isn't it 4500? 3000 sounds very low to me.
Garage offered to fix the scratch for 3000 plus VAT, is almost certainly the answer unless your car is only wort 4000.
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Old 14.01.2015, 21:19
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Re: Car insurance payout

No, my car is worth around 20k as per my casco at the moment. To fix the scratch (which is on the bumper and body) the garage is quoting 4500 CHF work (of which 3 days car rental etc etc)

Now insurance is offering me 3000 CHF INSTEAD to do the work, I think it sounds low. Or is it normal?
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Old 14.01.2015, 21:27
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Re: Car insurance payout

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No, my car is worth around 20k as per my casco at the moment. To fix the scratch (which is on the bumper and body) the garage is quoting 4500 CHF work (of which 3 days car rental etc etc)

Now insurance is offering me 3000 CHF INSTEAD to do the work, I think it sounds low. Or is it normal?
Argue with them, take the quote, minus VAT 8% = Chf 4'140.--

Settle for around Chf 3'600- 3'800.-- or tell them to get and fix the damage
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Old 14.01.2015, 22:08
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Re: Car insurance payout

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No, my car is worth around 20k as per my casco at the moment. To fix the scratch (which is on the bumper and body) the garage is quoting 4500 CHF work (of which 3 days car rental etc etc)

Now insurance is offering me 3000 CHF INSTEAD to do the work, I think it sounds low. Or is it normal?
They won't pay for the car hire...... you are not hiring a car!
So the pay out looks like the repair less VAT.
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Old 14.01.2015, 22:28
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Re: Car insurance payout

I'll call up and try to see to squeeze more, somebody needs to pay for a replacement car while mine is being repaired, I thought they will need to cover that cost as well?

4500-VAT would be 4100 and change like Today said. 3 day rental say 100 a day, still leave almost a grand left.
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Old 14.01.2015, 22:31
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Re: Car insurance payout

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I'll call up and try to see to squeeze more, somebody needs to pay for a replacement car while mine is being repaired, I thought they will need to cover that cost as well?

4500-VAT would be 4100 and change like Today said. 3 day rental say 100 a day, still leave almost a grand left.
The insurance believe your probably not going to get the scratch repaired, they offered to fix it & you asked for the cash instead. They are not stupid, they know you can go to France, Germany or even in CH for a cash rather than insurance repair. Rental of a similar car is probably not 100 a day....... The insurance will pay out for real losses, only if they occur.
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Old 14.01.2015, 22:36
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Re: Car insurance payout

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The insurance believe your probably not going to get the scratch repaired, they offered to fix it & you asked for the cash instead. They are not stupid, they know you can go to France, Germany or even in CH for a cash rather than insurance repair. Rental of a similar car is probably not 100 a day....... The insurance will pay out for real losses, only if they occur.
I agree with you, that is exactly my plan, take the cash and run, I can live with a scratch, but still, I would accept 10-15% deduction, but this is way too low, if they don't budge I'll just fix the car and they will have to pay the 4500.
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Old 14.01.2015, 22:38
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Re: Car insurance payout

don't forget to declare the amount on your income tax.
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Old 14.01.2015, 22:39
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Re: Car insurance payout

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I agree with you, that is exactly my plan, take the cash and run, I can live with a scratch, but still, I would accept 10-15% deduction, but this is way too low, if they don't budge I'll just fix the car and they will have to pay the 4500.
By law the third party is only liable for actual consequential losses, not theoretical losses. If you choose to pocket the money thats fine but don't expect to profit. At that point it becomes insurance fraud.
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don't forget to declare the amount on your income tax.
No requirement, it's not income it's compensation for a loss incurred. The car is worth less because of the scratch.
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Old 14.01.2015, 22:46
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Re: Car insurance payout

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don't forget to declare the amount on your income tax.
Why should I? It's insurance payout, not income. If your car gets stolen, do you put the amount you get from insurance on you income to pay tax on it?

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By law the third party is only liable for actual consequential losses, not theoretical losses. If you choose to pocket the money thats fine but don't expect to profit. At that point it becomes insurance fraud.
Why is it an insurance fraud, the actual consequential losses are 4500 CHF, we can't take into consideration that it costs less to fix it France, sure, but than it costs less to insure it in France as well, but I can't do that. Whether I choose to pocket the money or make them fix it it's really irrelevant, they are facing a 4500 invoice that needs to be paid, that is the amount that needs to be put for my car to be at the same value as before, how and what I do with the money is totally up to me. If I take the cash my car is worth less, I can't profit unless they pay me more than 4500
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Old 14.01.2015, 22:49
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Re: Car insurance payout

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Why should I? It's insurance payout, not income. If your car gets stolen, do you put the amount you get from insurance on you income to pay tax on it?



Why is it an insurance fraud, the actual consequential losses are 4500 CHF, we can't take into consideration that it costs less to fix it France, sure, but than it costs less to insure it in France as well, but I can't do that. Whether I choose to pocket the money or make them fix it it's really irrelevant, they are facing a 4500 invoice that needs to be paid, that is the amount that needs to be put for my car to be at the same value as before, how and what I do with the money is totally up to me. If I take the cash my car is worth less, I can't profit unless they pay me more than 4500
Provide a bill for car hire & the insurers will pay, it's very simple & is exactly what insurance fraud is all about.
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