How does the salvage process work?

If your car is deemed a total loss after a claim, 123.ie may settle by paying you your car’s market value (up to the amount last declared to them) minus any applicable policy excess.

What happens when my car is beyond economic repair?

A car is considered beyond economic repair when the cost of repairing it exceeds its market value immediately before the loss or damage. In this case, 123.ie will:

• Pay you the market value of your car before the damage, up to the amount last declared to 123.ie.

• Arrange for the damaged vehicle to be assessed and advertised for salvage bids.

• Share the highest salvage bid with you, allowing you to liaise directly with the salvage agent if you accept the offer.

Can I choose a different salvage option?

Yes, you can select a salvage offer other than the one provided by 123.ie. However, keep in mind:

• The salvage amount from the highest bid obtained by 123.ie will still be deducted from your claim settlement, along with your policy excess.

• If you choose not to accept the highest bid, the salvage disposal will be your responsibility.

What documents do I need for the salvage process?

To complete the salvage sale, you’ll need to provide:

• Your Vehicle Registration Certificate (VRC), properly signed for transfer.
• All keys associated with the vehicle.
• Any other documents required by the salvage agent.

How does the salvage payment affect my claim settlement?

The salvage process impacts your claim in the following ways:

• The salvage agent pays you directly for the vehicle.

• This amount, along with your policy excess, is deducted from the total claim settlement provided by 123.ie.

• Once the settlement is finalised, 123.ie is no longer responsible for the vehicle.

For more details, check 123.ie’s official Car Insurance policy document (PDF) or get in touch with the Customer Care team at 01 524 6029 or email Info@123.ie.