VAT
On a notional settlement no VAT is reimbursed. If you do have the car repaired later, you can claim the tax actually incurred afterwards.
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After a collision that was not your fault, you may decide whether to have the car repaired or to take the assessed amount in cash. Both routes are permitted – but they lead to different sums and to different consequences.
With concrete settlement you have the vehicle repaired and submit the workshop invoice. What was actually incurred is reimbursed – including VAT and incidental costs.
With notional settlement you take the net repair amount established in the report and decide for yourself what to do with it. You may have it repaired, repair it yourself, or carry on driving the vehicle in its damaged state.
The choice is yours alone. The insurer may not push you in either direction.
On a notional settlement no VAT is reimbursed. If you do have the car repaired later, you can claim the tax actually incurred afterwards.
The cost of transport to the paint shop is deleted by many insurers on a notional settlement – but reimbursed against an invoice.
The entitlement exists even without a repair, where you demonstrably could not use the vehicle. The duration follows the report.
The free choice comes with conditions that should be known before you decide.
Particularly important is the 130 per cent threshold: where the repair costs exceed the replacement value by more than 30 per cent, repair is commercially indefensible – settlement is then made on a total loss basis. Within the threshold you may have the car repaired, but must then keep using it for at least six months.
With smaller panel damage on older vehicles many injured parties choose the notional settlement – the money is available immediately and the damage barely matters day to day.
On younger vehicles, on leases and whenever a sale is in prospect, more speaks for repairing against an invoice: the car stays fully sound, the VAT is reimbursed and the repair is documented.
Whatever you decide, one thing holds: the basis is always a full appraisal report. Without a reliable calculation there is no figure on which a notional settlement could rest – and no way of checking whether the insurer is settling correctly.
In the report we state the repair costs, the replacement value and the residual value – so that you decide on a sound basis.
Head office in Schramberg-Sulgen, branch office in Rottweil. For the damage inspection we come to you in any case – on site, at the workshop or at your home.
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