Car Insurance Value Of Vehicle

lisyloo

GAP insurance is the only way to get to get the desired value for your vechile if written off/stolen etc.

I don't agree.
Your insurance company have a legal contract with you.
You can pursue them through the industry procedures (ombudsman etc.) or take them through the courts.

Of course GAP insurance may be much easier than doing this.
I'm just saying it's not the ONLY way to get the desired result.

Rhino666

I am a bit surprised that the OP is having to negotiate with his insurance company over his written off car when the other driver was to blame.
I thought claims were made through your insurance company but any haggling over the vehicle valuation would be with the other drivers insurance......or is there some industry agreement where insurance companies cover their client whatever the blame situation ?

lisyloo

My understanding is that if you have fully comp then YOUR insurance pays out (that way you can have the money immediately).
THEN they will claim the money from the other insurers.
Sometimes this can take time if things have to be argued over, so this way you get sorted out pretty quickly.

If it's a non-fault accident and they reclaim their money then it won't count as a claim on your insurance.

Astaroth

If you are comprehensive you have a choice to either claim off your own insurance (which gives you the protection of the FOS) or claim directly from the third party insurers.

If you do claim from your insurers negotiations would have to be with them and then as Lisyloo says, they will then counter claim off the TPI

Tim_Dodd_2

louiethomas2000 wrote:

My insurance company has given me a price for total write-off which is £1,200 less than the car's value as stated on the policy. How can I get either the figure I'm insured for or an increased figure?

The value you give the insurer for the value of your vehicle when you get a quote 'usually' stands for the maximum amount an insurer will pay out on one claim.

The pay out, as the posts previous to this have suggested, is more likely to be on the cars market value at the time or write-off/claim.

Many people have been giving a lower market value for their car to insurers in order to reduce their premium - BIG MISTAKE - when it comes to claim time, you're not going to get everything back which you need to cover your vehicle!