ScooBabe

Bought my my99 from main dealers for £16k with 12000 miles.
Had it stolen 10 weeks later, (5.6.01) having added 3000 miles and they are only offering me £13900 (incl. £100 excess)
Whats the best way to proceed. I gather that I should not accept this first offer, but anyone any experience/idea on how much I should say I want.
Cheers

Amanda

Neil Smalley

8-9 years ago when my wife wrote off her VW polo, the insurance company offered us a low figure(2-3K below). I photocopied the service book logs, to prove mileage, bought a copy of auto trader(used the dealers prices only not private) and found cars of a similar age and spec. I also tore the relevant page out of parkers guide and enclosed that, highlighting the price that matched the car.

I then wrote a polite letter saying that I could not buy a replacement car to the same condition and specification and that here was the evidence to prove it. After a couple of weeks they upped the offer by 2K.

I'm sure some insurance guru on here will help more, but that's what worked for me.

[This message has been edited by Neil Smalley (edited 06 July 2001).]

robski

Firstly, get along to a couple of dealers and see if any have comparable cars.

I have heard it said that if you can find an equivanlent car available, the ins co will buy that for you, but Ive never seen this in practice.

Why there is a big disparity is that its about 99% certain they are using glass's guide to value your car. You will have paid a marked up value at the dealers (standard practice).

Speak to your dealer, they may be able to help you, they are likely to get another sale if they do.

Realistically if you can get close to £15K I think you will have done well.

Hope all goes well
robski

banshi

Speaking to friends it seems the first offer is almost always low. So an emphatic rejection is certainly the way to go.

I would also add a detailed description of the car highlighting its condition and support this by providing an "independent" assessment by you local dealer.

May also be worth a brief word with Rum. Soory to hear that the nightmare has not yet ended.

B

SUPERCAR-KILLER

Sorry to hear of your trouble, id say the best thing to do is get a price of your dealer for a replacement vehicle of the same year , mileage etc and submit it to the insurers
GOOD LUCK
SK

Dragon

As already mentioned, the best way to get the right return price is to do the research and provide the insurance company with your findings; I know that people have managed to get their companies to pay the market value when using, 'well if you can find an equivalent car, then I'll take that', and again, as already mentioned, I don't know anyone who has been offered an actual car.

The best people to talk to are the Association of British Insurers (A.B.I) who will tell you exactly where you stand and what insurance companies are obligated to pay. There will be a number for them in your policy documents.

Then, after finding out what 'the law' states, you can approach the Insurance Ombudsman, who are an independant body who will act on your behalf if you are in dispute with your insurer - they are also free of charge. Again, a number should be in your policy documents.

As long as you've provided enough evidence to support that your company are being unrealistic about what they are offering you, then you will probably find, after approaching them directly, they will pay up a market price. It is not in the interest of the insurer to be subjected to investigation by either the A.B.I or the Ombudsman as this makes them look very bad, and wastes a lot of everyones time.

Lastly, never accept the first offer from an insurance company - there claims consultants/assesors are paid to keep pay outs to a minimum.

Hope this helps and best of luck!

Jim.

Ian E

iTrader: (1)

For an idea of main dealer prices go to

banshi

Thats what I call advice Go get 'em Amanda

ScooBabe

Cheers mates

Great advice, I'll sock it to em. After all I need all the dosh I can for my new cheap hobby

Amanda