GAP Insurance for Cars - Bad Experience Warning!

sbailey10

Thank you to everyone for your advice here. We will definitely write to both NU and Abraxas now stating that we are going to the Insurance Ombudsman to get this resolved.

Abraxas say they are using Glass' Guide to value the car, and they have provided us with the Glass' Guide code so that we can validate this.

NU have not provided any specific guideline as to how they have reached their value - I'm guessing that the Assessor has just used the Trade Value of the car.

I will update more when I hear. Thanks again

Wig

You don't write (AFAIK) saying we will be taking this to Ins Omb. not straight away. You give them some time to sort it out between themselves (look on Ins Omb website for what they recommend is a good length of time before referring the case to them.

If it really does become stalemate then referring 1 or both insurers is probably your best bet.

You didn't say what the Glass' guide valuation you paid for valued the car at, and what were the prices of the advertisements?

It sounds as you say that NU is the faker here so it might be best to just refer them to the Ins Omb. You might want to telephone Ins Omb for advice on how to proceed.

I'm glad you like my Ins Omb idea.

sbailey10

The Glass' Guide put our car at a shade over £10k. The advertisements from E&M etc put it between £8995 and £10,295. Even the Ford dealership that sold it to us in the first place but something in writing saying they would put it on their forecourt at over £9k.

I have written a tart letter to NU asking them to provide proof of how they came to their valuation.

In the meantime it has occurred to me that because we had the accident in Ireland (republic) that the Assessor over there might not use Glass' Guide or Parkers or anything like it so could randomly pick a figure from thin air.

I've given NU a deadline of 6th Dec to reply. Fingers crossed.

sbailey10

OK great news. Further to my "warning shot" letter to NU threatening to involve the Insurance Ombudsman, they amazingly upped their valuation of the car to £9250, thereby matching what the GAP insurers valued it at.

A miracle?????

So thank you very much to Wig for their suggestion. We are still waiting for our cheque for the difference through from the GAP insurer but all in all it's a positive outcome. :-)