Does anyone on what basis do the insurances pay out on a write off?
It was MY95 UK, comprehensive cover.

Do they pay the amount it was insured for?

Thanks
Kate

 

Nope - market value only

 

Market value - the amount THEY think is market value or the amount we think we can sell it for?

Why do they ask then what is the estimated value of your car when you are insuring?

 

THEY will decide on market value but you can appeal if you feel its unduly low.

They ask you the value of your car when you insure as this does affect the premium, albeit in a small way. If I called up and vastly overpriced my car for a quote I'm sure they would say so. Its pointless telling them your MYwhatever is worth £50k if its only worth £5k

Do some quotes and input varying values to see what affect value has on the premium. The biggest factors are your postcode and obviously your driving record and NCB

 

Be prepared to build a case as to why your car is worth more than book price. The best they will offer to start with is the Glass' Guide book price for a private sale.

If you believe your car is worth more, assemble receipts for servicing, recent tyres/exhaust etc (make sure you don't shove receipts for mods under their noses unless they knew about them!).

If someone at the garage that services it can provide a testamonial about its excellent condition, that might help. Photos after a recent polish might help too.

Good luck
Arthur

 

The value of the car will be assessed by either one of the insurer's own engineers or an independent one used by the company. The engr will start with the average condition retail price quoted in Glasses Guide, the motor industy's own valuations guide (or similar) and then be adjusted up or down for mileage covered above or below "average", the car's condition and a full service history. In truth, it's unlikely that any mods on the car, either cosmetic or mechanical, will have too much of an effect on the overall value - unless there's lots of high spec kit with receipts to support. Things like tyres, exhausts brakes etc will not have an effect - they're classed as consumerbles that are needed anyway. You may get a hundred or so more with a favourable testimonial from the servicing garage though....

 

If your unhappy with the offer, ring to complain and see if you can get them to increase the offer, if not, cut out some adverts from autotrader, exchange of mart etc and send them in, this should help you substantuate your argument.

simb