Overvalued insurance settlement

Samj008

And any advice on the legal situation if they don't spot it and they settle the claim?

hugoshavez

Once the money's in your hand you're home free. Simple as that.

Samj008

Is that legal advice or just what I want to hear?

dacouch

hugoshavez wrote: »

Not myself, but I've heard stories...a simpler time, huh?

For motor (Own or third party) or liability third parties they literally write a cheque out for less than the claims worth and handed it to the client and told them here's £x you can have the money in your account in a few days or the alternative is we will fight you all the way and you'll wait a year.

They did a similar with this claim by turning up with a cheque book shortly after the fire, but the policyholder was under the impression it was an interim payment and it was full and final settlement.

http://www.galwaynews.ie/2007-may-24-gort-plant-sue-10m

The area managers received bonuses for reducing the amounts of claims

hugoshavez

Samj008 wrote: »

Is that legal advice or just what I want to hear?

IF the cheque comes out at the higher amount, you bank it, and it clears then the story's over.

Have a look through some other threads on here, it's not often the regular posters are accused of telling people what they want to hear, quite the opposite!

hugoshavez

dacouch wrote: »

For motor (Own or third party) or liability third parties they literally write a cheque out for less than the claims worth and handed it to the client and told them here's £x you can have the money in your account in a few days or the alternative is we will fight you all the way and you'll wait a year.

They did a similar with this claim by turning up with a cheque book shortly after the fire, but the policyholder was under the impression it was an interim payment and it was full and final settlement.

http://www.galwaynews.ie/2007-may-24-gort-plant-sue-10m

The area managers received bonuses for reducing the amounts of claims

Lots of people used to carry chequebooks, and the "take it or leave it" culture hasn't completely died out.

I'd be surprised if there wasn't a lot more to that one, particularly if Quinn had agreed to reinstate a one point. Some of the stories of pre-consolidation are legend though.

Samj008

Ok, now I have it writing in an email and they have my bank details and say they will transfer the money directly into my account. I still haven't sent in the book. So I think I am going to wait until the money comes in before I send in the V5C.