Can i ask for more on a car insurance Payout?

confusedmary

Hello am wondering if anybody can advise..

Basically my car has been wrote off by the insurance company...

They have offered me a payout of £4200.

Ive gone onto autotrader and put my model mileage etc in with a 100 mile radius.

There isnt any cars at that price.
The First five that come up are £4490- £5500.

Ive emailed back showing them this but they have said:
The offer that we have made is already inline with the financial ombudsman service, the Glass’s retail guide, CAPS retail guide, and Parkers retail guide. Unfortunately it is not possible for us to exceed this amount.
I understand that there may be vehicles selling for a higher amount than offered, however as an insurer, we can only offer inline with the financial ombudsman and unfortunately I am unable to amend our offer.

Now... is that done and dusted or are they just trying to fob me off?
If thats the way it is then fine, but i dont want to accept it then everybody tells me i should have argued back etc (as is always the way!!!)

I just think they should at least give you an amount that you can buy a like for like car. Its going to be hard enough finding one under £5000. £4200 is impossible!

Also when i renewed the insurance (only 5 months ago) i ticked the over £5000 box. so assuming i must have paid slightly more for my premium???

If anyone can help i'd HUGELY appreciate it as i just want this sorted!!!

Thank you for any replies!

scheming_gypsy

nip down to your local second hand car dealer and ask them to check the Glasses and Parkers' guide for you to confirm the prices. If they are the correct prices then the fact that people are asking more than the market price, probably won't help you.

confusedmary

I have a friend who works in that trade so thats a fab idea thanks...

Although i think i know what the answer is going to be as they are always a lot less arent they! :mad:


Thanks for the reply

InsideInsurance

Glass' is normally the highest, CAP and Parkers vary. Due to the lag factor they are normally slightly higher than reality, especially with the worsening economic situations

AutoTrader are list price not sale price though, if you say you can see your model/ age/ mileage/ options on there at £4,490 then I suspect you could easily get that down to the £4,200 offer if not below

The other consideration is if the offer is net of the excess or not? If so then you need to add back on what the excess was to compare it to the valuations.

scheming_gypsy

Autotrader is also the 'what i want' price and not the 'what they got' price. Do a search on eBay - Advanced search > completed listings, and see what they actually sell for... Although eBay isn't the bible on selling it's the only place that really shows what something sold for and what people are willing to pay for items.