Write off, what next?

Thea

Lost control of my car yesterday and hit the central barrier.... its a write off.

My insurance company have said the car will be recovered to one of their repairers and assessed. I have to wait for official confirmation before i can get a hire car. It was under HP put thankfully ive got GAP so will not have any finance left.

What happens next? Im thinking by the end of next week it will be declared a total loss. When they put a value to the car will i have to accept it or is it between them and the HP company? Is my insurance policy now finished? Also what kinda of time scale am i looking at?

Loved that car, i feel like heading back to the garage and getting a replacement straight away. Bang goes 5 years of ncb:(

thescouselander

Sorry to hear about your crash - I cant offer much advice but I would be interested to hear about how you get on with your GAP insurance. Who's your GAP insurance with and has it been easy to claim on the policy?

Just one thing, on my GAP policy it says you have to let the GAP insurer know what you have been offered by the main insurer before you accept - you may have to do the same.

dacouch

How old is your car?

Which Insurer is it?

Thea

Thanks for the replies.

The car is a 2006 plate insured with santander. The Gap is with the car people and it does say im not allowed to accept any offer until they ok it. Ive heard insurance companies first offers are not necessarily the best and since i wont be receving any money then it will up to the finance company.

The only thing im not happy with is having to wait for them to recover the vehicle to assess it. The front bumper has gone and the engine was squashed. Im sure one call to highway recovery would be enough.

Just got to wait for all important write off.

Pew_Pew_Pew_Lasers!

Never accept the first offer from the insurance company. Look at similar models and base your claim on those prices.

Thea

A request for some more thoughts.....

Finally had and offer through for £5000. Spoke to hire purchase people yesterday for a final settlement figure which is £4700. So it turns out i dont need the GAP after all (dnt regret buying it though).

Two things. Firstly they told me its up to me to accept the offer from insurers. They just want this money and thats it for them. But what offer i get is subject to deduction of excess of £200 and the balance remaining on the insurance policy which is £300 odd so that leaves me with around £4500 to pay for the car. Since its up to me can i refuse first offer and hold out for abit more? Im not looking for any profit just so everthing gets cancelled i i wont owe anyone any money.

Secondly the insurers want to dispose of the car in the next 10 days. But the hire purchase people say they can not do because they need the vehicle ownership document which they will not send until they get the money. Subject to fees for storage. The insurers have asked for a settlement fee from the hire purchase company via me.

Does this ring true? Or will this spur the insurers (equity red star) to hurry along with the second offer.

harveybobbles

Never accept the first offer.

Thea

Refuse the first offer. Although the guy was quite funny. He claimed the car was only worth £5000 as that was the figure i had told them the estimated vehicle was worth when i first signed up for the policy. I politely told him that it was an estimated figure not a legally binding one and since im a pharmacist not a sales woman what would i know?

Anyway i know have to get some proof of vehicles similar age and mileage with selling price. Off to autotrader i go....

Matt_Nixon

Just been thought the pain of fighting the insurance company for the correct value, get the 3 cheapest valuations from Autotrader for the same model, same year, similar mileage, also get the Which free valuation http://www.whatcar.com/valuation/

You are entitled to the RETAIL valuation figure, you will have to fight & threaten the insurance company with the Financial Ombudsman.

wr1ght

My cars just been written off (lexus is200 sport 9 years old 93000 miles) insurance valuation guy rang me and asked what i thought it was worth. I said there on the internet for between 3 + 3.5k he valued it at 3.6k. i am amazed had a letter confirming this and cheque is on the way accident was last saturday.