Total Loss/"Write Off" Valuation Disputes

V_tricky · 28 January 2008 at 11:28AM

Hi,

I came across THIS ARTICLE on the Financial Ombudsman's website for December 07/January 08 which gives detail on recent cases the ombudsman has ajudicated on, and may give some insight into how pre-accident valuations are done, and what you can do to realistically assess the value of your vehicle and request an increase if necessary.

Also HERE is the ABI Code of Practice for the Disposal of Motor Vehicle Salvage. There's a chart which shows you what each of the salvage categories actually mean.

Also, whilst browsing on the internet I came across THIS which should help
Hope this helps!

mattymoo · 28 January 2008 at 4:52PM

Thanks for that V_tricky. One of the regular forum topics, perhaps this should be a sticky or included in the quick links.

chivers1977 · 28 January 2008 at 6:58PM

V tricky. I used the FOS newsletter in my recent claim as it had just landed on my desk at work and it definitely did the job!

Altarf · 1 April 2008 at 12:00PM

V_tricky wrote: »

I came across THIS ARTICLE on the Financial Ombudsman's website for December 07/January 08 which gives detail on recent cases the ombudsman has ajudicated on, and may give some insight into how pre-accident valuations are done, and what you can do to realistically assess the value of your vehicle and request an increase if necessary.

I would also recommend looking at this older article from the Financial Ombudsman's website, which describes what it means by the term 'market value' as equivalent to the ‘guide retail price’ (the price that a member of the public might reasonably expect to pay at a dealership), i.e. the insurer should pay what it will cost you to buy a new car, not what you could have sold the old car for.

V_tricky · 1 April 2008 at 12:33PM

That's a great article - not seen it before!

V_tricky · 12 June 2008 at 9:55PM

Glad we could help, but your post reeks of :spam:

This is moneySAVING not moneySPENDING

There is absolutely no reason why anyone cannot do their own evidence gathering - WITHOUT giving their personal details out to an unknown for what is probably a very high proportion of whatever increase in valuation is negotiable.

If you really wanted to give your hard earned £60 away, you could contact a fully qualified mainstream independent motor engineer who would provide you with a full and detailed engineers report detailing the exact condition of your vehicle, including photographs, a breakdown of the estimated repair costs, and a full personal vehicle valuation after actually having seen your car - although your insurer may have subcontracted the report out to an independent anyway - so double check this.

But multiple engineers reports are just not necessary in the vast, vast majority of cases.

The 'evidence gathering' which is the 'service' that this entreprenour is on about is merely collating adverts of cars of the same make & model, spec, age and mileage as your own.

Look on Autotrader, look in your local Classifieds, look in the Bargain Pages, look on eBay (particularly at recently closed auctions to find out what the vehicles ACTUALLY sold for). Print them off and send them to your insurer.

Anyone can do this - especially as you will probably be looking at these in any case to look for your new car.

Sorry to rain on your parade only1jayw, but it aint rocket science and I can't understand why anyone would pay anyone to do this for them.

Total Loss/"Write Off" Valuation Disputes

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