Car insurance claims

kagsb70

Apologies if this is in the wrong place. Last night we had an accident in our car (both ok thankfully) but car looks like a write off. Problem is, we owe approx £5000 on loan and I know insurance are going to offer min price for car if its written off. Has anyone got any useful tips /advice etc on ensuring we get best possible deal from insurance company to minimise the debt we will be left paying with nothing to show for it. It was a pure flux accident with no-one else involved (except a fox and a drystone wall!), but it looks like it's going to be the debt that breaks the camels back so to speak. Thanks in advance.

PNPSUKNET

Never accept the first offer, get local newspapers / dealer quotes for the same car / milage. You just have to show the price you can replace it for

johnson293

Sorry to jump in, but I may be in a similar situation myself, after events today.

Someone smashed into the back of our car today, and whil myself, my partner and our young son are all ok, from the apparent damage it's looking a good bet that the car will be written off once the insurance see it.

Its a 2002 Clio, and I only bought it 8 days ago! I paid £2991 for it, with finance of £1500 over 24 months. So I would imagine/hope whatever I get as a settlement for the car should cover the finance at least, but depending what I get it may not leave much for a replacement... should it come to that.

Its the first time I've been in a situation where a car may be written off. Is it possible to 'haggle' with insurance over the price they offer - and if so, what are the best tips?

Depending what sum I get for the car, is it possible I could just use the settlement fully towards a new car and continue to pay the finance for the 24 months, or am i obliged to clear the finance as soon as I receive settlement? Would I need to advise the finance company that the car had been written off, and then take their advice?

Hindsight is a great thing - pity I hadn't taken out the GAP cover (pays off full finance in event of car being written off) offered by the dealer!! But after almost 20 years of motoring, I just didn't think i'd need it.

Cheers for any advice offered.

dacouch

PNPSUKNET wrote: »

Never accept the first offer, get local newspapers / dealer quotes for the same car / milage. You just have to show the price you can replace it for

Providing adverts from the local paper for similar cars does not mean this is the price the Insurers should offer. The adverts are seen as offering the price as a start of negoiations. They are helpful but do not expect to get their exact price

PNPSUKNET

Hi if you look at the insurance it says market value, so if cars are selling at a value in your area its market value.

chalkie99

The basic principal of insurance is one of indemnity which means you are entitled to be placed in the same position as you were before the accident.

You should receive the figure needed to buy a replacement car of the same model, age, condition and mileage and if the offer falls much short of that then you should invite them to find a vehicle themselves.

dacouch

PNPSUKNET wrote: »

Hi if you look at the insurance it says market value, so if cars are selling at a value in your area its market value.

This is good advice, the key word is "selling" the adverts indicate a starting price for negoiation. What the market value is the actual price they are selling for