A new version of the insurance industry’s Code of Practice for the Categorisation of Motor Vehicle Salvage has been published.
A new version of the insurance industry’s Code of Practice for the Categorisation of Motor Vehicle Salvage has been published. This follows much-needed revisions to the Salvage Code – which was introduced in 2007 – to ensure that it is kept up to date with the increasing technical complexity of newer vehicles.
Central to the updated version is the reclassification of repairable salvaged vehicles, shifting focus from commercial considerations such as repair costs and Pre-Accident Value (PAV), to an assessment of the ‘structural’ and ‘non-structural’ damage to the vehicle.
The review of the Code of Practice has involved multiple stakeholders including insurers, vehicle manufacturers, affected government departments and agencies, the Police, the salvage industry and the BVRLA.
For the first time, vehicles which have sustained structural damage will now gain an ‘S’ identifier on the V5C Vehicle Registration certificate, giving consumers visibility of whether a vehicle has been salvaged. The BVRLA has produced a new fact sheet that covers the revised code.
“As the owners and operators of more than 4.7 million vehicles, BVRLA members have a responsibility to help ensure that seriously damaged, written-off and unsafe vehicles are not fraudulently sold on to unsuspecting customers,” said BVRLA Chief Executive, Gerry Keaney.
“We welcome this updated Code and the additional safeguards it introduces around the disposal of motor salvage.”
