URGENT help please - CAR Written OFF :(

ssm_3

Hello dear money savers please advise me a way forward!

I had a minor accident last week when I ran into a truck (standing). There was damage to the bodywork to my car (nothing happened to the truck).

I went to a local Bodyworks who quoted me about £400-600. I then contacted the insurance company who asked me to send my car to their approved garage.

The valuation by them was about £1500 so the insurance has written off my car.

They are giving me 2000 pounds less than the price I paid for the car two years ago.

What should I do? The insurance company is basically saying I JUST ACCEPT what they are giving and that I have no other option.

Can anyone advice that it is really the case?

Can I just not get the car back why should have to lose the car as well as the money???

hjb123

I guess that another possible option is that you dont claim on the insurance and pay for it to be done at your local Bodyworks place if you feel that it will be worth it.

If the price they are offering you is enough to buy a different used car then maybe you should take it?

montrose5

Another option, ask them how much they want for the car. Buy it back if the price is cheap enough and you may find after repairs you could be in profit!!!
Worth a try

saintjanet

I would not accept the first offer they have made it will be bottom book price,tell them you are not happy.It may help if you could supply them with evidence of the "good condition" of your vehicle,or show them that you have recently spent money on it.

You really need to convince them that you cant buy a similar car for the money they are offering you,GOOD LUCK.

A_Nice_Englishman

The insurance should pay out enough to buy a car comparable to the one written off i.e. to put you back in the position you would have been in had it not been written off.

I would suggest getting evidence as to how much a comparable car would cost to buy and if that is less than the insurance company are offering negotiate with them. I have heard of insurers increasing their initial offers.

If you want to buy a car two years younger than yours then you will have to pay the extra.

ArsenalFC

Dont accept their first offer. Look into https://www.autotrader.co.uk and https://www.exchangeandmart.co.uk for similar cars to yours and see what price they are. Armed with that you can tell them to make an equavilant offer.

Perhaps you can give details of your car and we can help you on what is a decent price you should get from the insurer. Include all details i.e full service history, mileage, make model, reg and year etc.

I am insured with zurich and they were very good in offering me a current market price taken from the autotrader when I written off my car in may 06.

blackcateddie

I did this some time ago and the best advice i had was don't accept their first offer - they will negotiate a little. Look at some of the valuation websites which willgive you an idea of what they could offer you then go back to them and say that the car is worth X if in top condition etc. so you think they should be giving you more.

Astaroth

Firstly you need to work out what the correct value for your vehicle is... Glass and parkers both will do an online valuation for £2.50 and it is the private sale price you are looking at - though you do have to be honest with yourself about the preaccident condition of the vehicle as any minor scratchs/ stonechips etc will reduce the value

Secondly, look at the original quote you got. Often these will be for the labour only and the parts will be added after at MLP (manufactures list price). If the quote is for the full repairs including parts tell your insurers you want to go to your own garage as it will mean the vehicle isnt a total loss (and it will save them money too so they wont mind)

If the quote is for labour only then the vehicle is a total loss. You can complain about the valuation if the online tools state the vehicle is worth more than what they say it is.

If the vehicle is a total loss you need to find out what catagory it is. If it is C or D then this means it is a decision based on economics and not safety and so you can ask to retain the salvage (ie the car). They will deduct from your settlement cheque the value of the salvage (normally 10% of the total loss valuation) but you can then pay for it to be repaired and use the vehicle again (but you may have to get a road safety test done after the repairs before an insurance company will insurer it - check with your current insurers). If it is an A or B catagory total loss then it is a safety issue and the vehicle must never be returned to the road and can only be given to a company with a breakers licence to sell the undamaged parts.

Bossyboots

Agree with the above. Gather information on the value of your car and don't accept their first offer.

greenstick

YGPM

Long time (8 years) since I worked for an insurance broker but this is my recallection of the procedure.

They offer you a value

You reject that offer.

They offer a little more

(If) You reject that offer

They then ask you to prove that it will cost more to replace your car than they have offered.

You then cut clippings of similar cars with a higher value from the autotrader or local press (bare in mind that these prices are the asking prices, not the selling prices...the insurance companies know this) and state your case as to a higher value.

Please don't take too much notice of publications like Parkers. Traders pay large amounts of money for the Glasses guides. Parkers are £3 for a reason!

You can get a free Glasses valuation using the instructions on the following forum

http://forums.moneysavingexpert.com/showthread.html?t=105869

The insurance company is only obliged to pay you the cost of buying an identical car privately, they take into account age, mileage, service history and general condition. People get attached to their cars and consider them to be worth more than they actually are (I know I do).

If you still dispute the offer after all this, I believe it could go to arbitration where a 3rd party makes the final decision that both sides have to agree to. I never saw a case get that far though.

Good luck

Astaroth

Dont reject offers out of hand.... insurance companies do not intentionally devalue a car, it costs more for them to have an ongoing claim and complaint than it does to try and save the odd £100 here and there.

If you reject an offer they can come back with a lower one, have known this happen many times and for the FOS to agree that the new lower offer is fair and that they are under no obligation to go back to the original offer as you have rejected it.