Insurance payout !! Is this fair !!

rosienoo

Hi, hoping for a bit of advice. We had a bit of bad luck with our car setting itself alight outside our house a few weeks ago - electrical fault we are told. We are insured fully comprehensive. However we didn't read the small print and apparently this reputable insurance company doesn't insure you for FIRE on a fully comprehensive policy !!! We insured the car for what we paid which was £2500 and only had it for 6 months before this happened!! The insurance company have offered us £1600. Is this fair?

zeon999

Most cases its normal to refuse the first offer and they will make a second offer.

Unfortunately though this happens all the time what you think the vehicle is worth and what you declare at the start of your policy often differs greatly from actual book price.

rosienoo

I think we actually under valued it, by about £900 according to an expert :-( We will refuse the offer then.

dunstonh

How much is your excess and is the £1600 after excess paid or before?

rosienoo

dunstonh wrote: »

How much is your excess and is the £1600 after excess paid or before?

They offered us £1,750 less £150

Lucyadams184

You should look in auto trader and see what you could get for your car, you should cut the details out and send them to your insurance company. You can normally get a bit more than the first offer.

rosienoo

Lucyadams184 wrote: »

You should look in auto trader and see what you could get for your car, you should cut the details out and send them to your insurance company. You can normally get a bit more than the first offer.

I was thinking of getting a Parkers Guide Valuation done to see what it comes out with, its worth £4 to do that I guess

InsideInsurance

rosienoo wrote: »

this reputable insurance company doesn't insure you for FIRE on a fully comprehensive policy !!!

<snip>

The insurance company have offered us £1600. Is this fair?

If you say you arent covered for fire why are you saying they've made an offer for a fire claim? Sounds like you are cutting out part of the story here.

rosienoo

They say they won't pay for Fire Damage, but they 'may' pay up to the value of the car. It's all very ambiguous ! Lets just say their policy is 'open to interpretation'

Quentin

Get them to confirm they will pay your claim. Sounds like you spoke to an untrained agent as insurance companies don't pay out for any claims for which you aren't covered! (No "may" about it)

Then go about establishing the market value

rosienoo

Quentin wrote: »

Get them to confirm they will pay your claim. Sounds like you spoke to an untrained agent as insurance companies don't pay out for any claims for which you aren't covered! (No "may" about it)

Then go about establishing the market value

They've already confirmed in writing. All I'm saying is the way the policy document is written is a bit vague that's all. Maybe I'm being thick!