stolen car market value?

davidwm

I had my Honda Jazz stolen yesterday.
The car is only 2 years old and has only 8000 miles on clock.
Condition as new.

I am insured with Churchill. If my car is not recovered, what sort of payout will I get?

How is the value arrived at?

Any thoughts appreciated.

mcjordi

the value is usually gained from glass's guide mate
go on the vauxhall site and and they are giving a p/x value of cars atm itll give you an idea

http://www.vauxhall.co.uk/vaux/pages/finance/valueYourCar/index.jsp

its a rough idea at best mate

Lemonade_Pockets

The insurance should give you enough money to replace the car with that of a similar spec age mileage and condition.
Now they will probably make a derisory offer to start with. But you need to make sure it is enough to cover a replacement so keep a eye on autotrader and the glasses guide.

Shoshannah

Lemonade_Pockets wrote: »

The insurance should give you enough money to replace the car with that of a similar spec age mileage and condition.
Now they will probably make a derisory offer to start with. But you need to make sure it is enough to cover a replacement so keep a eye on autotrader and the glasses guide.

If only that was true in my case, I am expecting an offer of half what my old car was truly worth. Hopefully with a 2 year old Honda Jazz you'll get a decent payout.

Lemonade_Pockets

If only that was true in my case, I am expecting an offer of half what my old car was truly worth

The whole point of car insurance is to put you back in same economic position you where before the accident. I.e. they should pay out enough money for a replacement, in most cases this should be like for like within reason. If your car is worth exceptionally more than the average equivalent car for that age e.g. you have a ford escort unmarked with 2K on the clock then you should have it insured at a agreed value.

So the insurance should not give trade value it should be retail. Insurance companies will try all of bollox to pay out less, its their job, they are business at the end of the day. Profit is king and they don't achieve that by paying out max value every time.

sillygoose

Excuse my curiosity but its a near new car, I am interested how did they beat the immobiliser and steal it? (I have a Honda so got me curious)

Did you get broken into and the keys taken?

lightbulb

Just to add, we had our car stolen from in front of our house, we had all the keys, there was no glass anywhere. The only thing we can assume is that the car got lifted or towed off.

Insurance was good and paid out without a fuss at market rate at the time which was slightly higher than what we paid for the car due to the ford employee discount and haggling, they did ask to see the paperwork though.

davidwm

Thanks for all replies.
We were up in London as my 19 month old grandson had suffered "sudden infant death syndrome". After spending three nights trying to support my son and his partner another family member took over and we went to stay at our other sons to get some rest.
His flat was broken in to and all our "stuff" was taken including our car keys!!!!!
On top of the devastating tragedy of our grandson this event was just about the last straw!!!!!!

Shoshannah

Lemonade_Pockets wrote: »

The whole point of car insurance is to put you back in same economic position you where before the accident. I.e. they should pay out enough money for a replacement, in most cases this should be like for like within reason. If your car is worth exceptionally more than the average equivalent car for that age e.g. you have a ford escort unmarked with 2K on the clock then you should have it insured at a agreed value.

So the insurance should not give trade value it should be retail. Insurance companies will try all of bollox to pay out less, its their job, they are business at the end of the day. Profit is king and they don't achieve that by paying out max value every time.

I am expecting a payout of about £250, could have easily sold car for £450. Simple as. People have biased views because it was an old car so must be worth nothing, yet equivalents are selling for £600 and more. I bought a lower spec replacement for £350 so I would like to get £350 at least.

Lemonade_Pockets

Shoshannah wrote: »

I am expecting a payout of about £250, could have easily sold car for £450. Simple as. People have biased views because it was an old car so must be worth nothing, yet equivalents are selling for £600 and more. I bought a lower spec replacement for £350 so I would like to get £350 at least.

Tell that to the insurance company then. If they want to offer you £250 then i'd ask them to prove or provide examples of cars similar to yours that can be purchased for that sum. Failing that ask them to explain in detail how they arrived at that figure.

As a side note most old cars are worse far less than what their owners think. Ask any trader/salesman on here about what ludicrous sums people expect.

sillygoose

davidwm wrote: »

Thanks for all replies.
We were up in London as my 19 month old grandson had suffered "sudden infant death syndrome". After spending three nights trying to support my son and his partner another family member took over and we went to stay at our other sons to get some rest.
His flat was broken in to and all our "stuff" was taken including our car keys!!!!!
On top of the devastating tragedy of our grandson this event was just about the last straw!!!!!!

Hi,
I thought that would be the case re. the theft. Very sorry to hear of your very sad events. There is not much more that can be said than that.

I begin to wonder if the immobilises on cars are turning out to be such a good thing. OK your car used to get 'screwdrivered' and stolen, then if it was found repairable the insurance would cover repair and your back to where you were - sort of. Now they not only steal your car you get burgled too - possibly being put into direct danger from a desperate intruder. Your at greater risk but is our insurance any cheaper? no.