Directline offering peanuts for my car!

cyclonebri1

Rev was right and there is a part of his post that is important,

cyclonebri1

spadoosh wrote: »

the question you need to ask is how much did u value it at when filling out your insurance because youll never get higher than that!

Good point, over value it at 10k and it will cost a few quid, undervalue it at 5 and it will cost much more, , figuratively speaking,

Judas

daveyjp wrote: »

Glasses guides give trade in values, that is not a value if you are a buyer.

Glasses guide is what the FOS say should be used. It doesnt only give a trade in value.

Dave_Z

spadoosh wrote: »

the question you need to ask is how much did u value it at when filling out your insurance because youll never get higher than that!

Not true. I paid £6k for a Volvo last year. Declared value as such on my policy. Four months later I wrote the car off and I got £7800 for it. And I'd bought it from a main dealer.

cyclonebri1

Ooooh you blagger.

Maybe they thought you got it wrong and charged you double in the 1st place, ??

To the OP, peanuts? no, look at what has happened in the last 3 months, ie, S!!t has descended,

dacouch

Dave_Z wrote: »

Not true. I paid £6k for a Volvo last year. Declared value as such on my policy. Four months later I wrote the car off and I got £7800 for it. And I'd bought it from a main dealer.

The Ombudsman will rule that if a customer be paid the full value even if they undervalued the car on the application (Assuming the customer has not deliberately miss led the Insurers).

"We are likely to award the policyholder the full retail value, even if he/she inadvertently under-estimated the value of the vehicle when filling in the proposal form or luckily bought the vehicle for less than it was worth. And we have seen exceptional cases where a vehicle’s value genuinely rose between the date it was bought and the date of the damage/theft."

http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html#13 (Section 2)

pjjafc

rev_henry wrote: »

Not true, interestingly.

I have nothing further to add except that it was absolutely your fault as you are meant to only pull out once the oncoming vehicle has actually started the manoevre. When learning you were taught to anticipate people forgetting to cancel their indicators no? That is what the Highway Code says...

Everyone makes mistakes. Just like you have by offering no help whatsoever in your rather pointless post.

vaio

http://www.financial-ombudsman.org.u...luation.html#9

is worth a read, and I'd argue that you've had it such short period of time they should pay out whatever you paid for it. Note the sum you get should be enough to pay for a replacement from a retail dealer, ignore those who say you'll only get private or trade value

cardinalbiggles

pjjafc wrote: »

Everyone makes mistakes. Just like you have by offering no help whatsoever in your rather pointless post.

To be fair to the poster, thats kind of the first thing I got told when learning to drive, dont assume someone is turning if they are indicating, we have all driven like idiots with our indicators highlighting our stupidity!

AdrianHi

Figure out what 3 months depreciation should be, probably about £900, take that off what you originally paid and ask for that. As others have said, try to find some evidence backing up your valuation.
I wrote a car off in 1999, I had owned it 6 months and I rejected Direct Lines first offer
Basically they are making the customer do the leg work to prove the vehicles value here, they just pick up something like glasses and offer the minimum trade in value and leave the customer to fight for more. Some don't of course.
I got purchase price minus 8 months depreciation out of them, it took 2 months to settle the claim.
I'm still insured with Direct Line today.