The Code is Changing...

The Code of Practice for the Categorisation of Motor Vehicle Salvage has been updated, and will be effective as of 1^st October 2017.

The Code of Practice is produced by and supported by the Association of British Insurers -ABI & Lloyds Market Association (LMA), with the support of a wide group of stakeholders. The purpose of the code is to protect the public, detect and deter insurance fraud and other criminal activities, and to make vehicle histories more transparent.

The new updated Code of Practice will reflect the level of structural damage to the vehicle rather than the repair costs.

Ben Howarth, Senior Policy Adviser for Motor and Liability at the ABI, said: “It’s important the code moves with the times, and this update takes account of two years of consultation and extensive technical scrutiny from Thatcham Research. The changes are focused on making the UK’s roads safer, and ensuring that consumers have transparency about the history of vehicles they are considering buying.”

We will be providing further information and guidance regarding the changes to the Code of Practice in the coming weeks.

*Please note, V5 documents will not be provided with any CAT S vehicle.

Sources:

https://www.abi.org.uk/news/news-articles/2017/06/salvage-code-updated/

https://www.abi.org.uk/globalassets/files/publications/public/motor/2017/06/salvage-cop-v9-june-2017.pdf