Car insurance total loss claim - MSE newbie needs help!!!

mistryman86uk

Once again thanks for the replies; very much appreciated.

I suspected that may be the route me and my father will have to take. I do have a receipt for the purchase of the car with its mileage, value etc and my father as the buyer. The money for the car however did come from my account.
I just hope that when i call the insurers tomorrow i will have some joy.

As for compiling evidence of the true value of the car how would you guys go about doing this?

Thanks

Mitch

financial_illiterate

Autotrader is as good a place as any.

MarkyMarkD

Your case is sounding better as the story goes on.

So, as far as the documentation goes, your father bought the car; you can prove that he is the main driver; you can prove that your use of the car was covered.

The worst thing is the suspicion the insurer might have. Acting on behalf of your father in discussing the claim must have waved an enormous "fronting" red flag. "Accidentally" under-insuring the value of the car by a factor of 4 is very hard to believe, whether or not it actually affected the premium.

As others have said, if you can demonstrate that the price you paid for the car was a reasonable one, and it matches the price of replacing the car now, you should have a case for arguing for a larger settlement.

pompeyrich

Probably not going to be any help but seems typical that if you deliberately or accidentally under value a car, the Insurance Company accept this figure. If however you over value a car, "market value" is deemed to be the true value and not a penny more. Heads they win, tails you lose.

dacouch

pompeyrich wrote: »

Probably not going to be any help but seems typical that if you deliberately or accidentally under value a car, the Insurance Company accept this figure. If however you over value a car, "market value" is deemed to be the true value and not a penny more. Heads they win, tails you lose.

If you read the previous posts you will see the Insurers will probably have to pay the correct market value even though the car was under valued so this is not really a valid arguement. I cannot see that overvaluing your car and expecting an Insurer to pay more than the car is worth is fair.