Car written-off - what next

Bluesifi

Hi, I had an accident (which was my fault and no one else involved), and I think my car will be written-off.

Quesion is, how do insurance companies decide on how much the car is worth, is it on trade in price, dealer or private sale.

I have finance on the car, and would like enough to cover this, but it will be the top end of the price range for my car.

Thanks

huckster

Most use book guides such as glass.co.uk.

They will ask for the paperwork regarding the car e.g. Reg doc, MOT and any other docs that confirm the condition pre-accident, servicing/repair invoices.

Whilst some Insurers will take a look at advertised sale prices in the small ads, they don't have to. The FOS won't look at small ads prices as they say these prices are what the seller wants and not actual prices paid.

Check the guide, obtain a value ( costs £3.50 I think) and then start putting the paperwork together to support the value you think it was worth.

You don't have to accept their offers. You can challenge and use the FOS or other arbitration that is offered.

vaio

The FOS say that the insurance companies should give the average of the retail values in Parkers, Capps & Glasses discounting any one that is significantly different from the other two.

If you have only recently got the car then what you paid is a good indication of value and if your car is not accurately valued by the above guides then you can argue as long as you can back it with evidence, for example, you might have a pristine example of a 15 year old car which would be worth much more than the average example that the guides would cover.