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Help! Worried about a car insurance settlement offer
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LondonDiva
Posts: 3,011 Forumite
in Motoring
About a month and a half ago, my parked car was the loser after a lorry and another car involved in a crash collided with it.
The insurance co supplied me with a replacement car & told me they’d be in touch, I’d keep my no claims bonus and not need to pay the excess.
Heard absolutely nothing until last night I got an email with an offer as below for a car I paid £1250 for in September 2007.
We have decided to settle your claim on a "total loss" basis. We have based our valuation on the current market value of your car, calculated as follows:
Market Value £500.00
Less Excess £150
Settlement figure £350.00
The car is a S reg 1.2 Peugot 106 with about 62k on the clock
Help!
Does this mean that they have been unable to get the two cars that crashed into each other and then hit my car to pay up? Am I losing my no claims?
I really want another car, but can’t afford one on £350. I’ve lost two months road tax because they took the car off with my tax disc and still haven’t returned it, I lost a month’s parking permit and will only get £6 per month for the remaining months (less £10 admin fee) and the galling thing is that I put half a tank of petrol in the car the day before it was hit by the other two cars.
Any advice / suggestions? There’s been no feedback, nothing and I’m panicking a little bit about what to do for the best. I don’t want excessive money, but I do think that as I wasn’t even there, something smells wrong.
The insurance co supplied me with a replacement car & told me they’d be in touch, I’d keep my no claims bonus and not need to pay the excess.
Heard absolutely nothing until last night I got an email with an offer as below for a car I paid £1250 for in September 2007.
We have decided to settle your claim on a "total loss" basis. We have based our valuation on the current market value of your car, calculated as follows:
Market Value £500.00
Less Excess £150
Settlement figure £350.00
The car is a S reg 1.2 Peugot 106 with about 62k on the clock
Help!
Does this mean that they have been unable to get the two cars that crashed into each other and then hit my car to pay up? Am I losing my no claims?
I really want another car, but can’t afford one on £350. I’ve lost two months road tax because they took the car off with my tax disc and still haven’t returned it, I lost a month’s parking permit and will only get £6 per month for the remaining months (less £10 admin fee) and the galling thing is that I put half a tank of petrol in the car the day before it was hit by the other two cars.
Any advice / suggestions? There’s been no feedback, nothing and I’m panicking a little bit about what to do for the best. I don’t want excessive money, but I do think that as I wasn’t even there, something smells wrong.
"This is a forum - not a support group. We do not "owe" anyone unconditional acceptance of their opinions."
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Comments
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Never accept the first offer!!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
According to the book they didn't make a 1.2.
Without knowing full details of the car I cannot give you an exact idea of price but heres a guide on a 1999 S plate 1.1 Zest.
Retail:£858
Private Good:£628
Private Average:£448
Private Poor:£278
Part Exchange:£508
Trade:£458Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
The offer itself doesnt sound too bad although push for a bit more.
Ask them to add a bit on for the petrol
Road tax and permit you should have got yourself and reclaimed.
As for liability. Its unclear from the letter, ask them and see. Its quite possible they will pay out pending liability decision etc.0 -
Have a look at adverts and guides giving prices for different cars to see what you think is fair, and present this to them. The more 'evidence' you have for a higher claim the better.
The insurance company should be able to clarify the issue re: excess. Its possible its just an error or because the legal side hasn't been sorted out yet, but give them a call.There is no such thing as a free lunch. Its only free because you've paid for it.
Noone can have everything they want and the sooner you learn that the better.
MSE Aim: To have more "thanks" than "posts"! :T0 -
Its important to take into account adverts for cars for sale at x price does not mean that is their value. They may be advertised at that price but it does not mean they are being sold for that amount. You should therefore use the prices in the adverts as a guide but do not expect the Insurer to value you car for the value of the adverts as this is not neccessarily the actual value.0
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"Everyone damaged is entitled to be put back into the position they were in immediately before the damage, whether that is financially or by replacing the damaged car or by repairing it."
http://www.honestjohn.co.uk/faq/faq.htm?id=126A chicken crossing the road is poultry in motion0 -
Shouldn't you also get your excess back from the other party?
When I have not been at fault i've never lost out due to excess on my policy.I beep for Robins - Beep Beep
& Choo Choo for trains!!0 -
If you paid a bit extra for a protected NCB you will not lose it. If you didn't protect you NCB then I'm afraid you will lose it if the other party doesn't admit liability abd cough up. It's a 'no-claim bonus', not a 'no-blame bonus', which does seem very unfair but has been forever thus.I used to think that good grammar is important, but now I know that good wine is importanter.0
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Thanks guys
Chippy Minton - you're right, it's a 1.1
I will write a quick email to them to make clear that I'm not accepting their offer, I will ask whether the other parties wh caused the crash have admitted liability, I'll mention the tax etc.
If they are still offering £500, as the 'injured party' - i.e. I wasn't there when the two vehicles were bombing down the street and crashed into mine, do I have the right to insist that the car is repaired?"This is a forum - not a support group. We do not "owe" anyone unconditional acceptance of their opinions."0 -
No you don't
How long ago did the crash happen? Have the other drivers been traced?
A lot of insurers if you have comprehensive insurance just pay out minus excess then chase the costs and such back. I think this is what has happened here so you will likely get your excess back albeit later.
If you dont want to do this you could tell your insurers you plan to claim from the third parties and dont want them involved. Alternatively if its not extensively damaged ask for a settlement were you retain ownership and get it repaired cheaper with scrappy parts and a back street non dealer garage/friend.0
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