Insurance payout !! Is this fair !!

Quentin

They have confirmed they will pay?

In that case get your evidence together and argue for the correct market value.

Apart from your excess they will also deduct any outstanding premium owed if you are paying on the drip.

rosienoo

Thanks, we paid in full so they can't deduct that at least :j I will do as advised and gather the evidence then. Advice much appreciated. It's always hard to know whether to contest these things or not. I've never been pushy enough in the past and have always ended up with the blunt end of the stick.

vaio

Read http://www.financial-ombudsman.org.u...valuation.html

it covers pretty much all you need to know re fair valuations

Retail price is what you should get from your insurer

InsideInsurance

rosienoo wrote: »

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'

Under a normal TPFT or Comprehensive policy you would have:

1) Cover for damage to your vehicle excluding the repair/ replacement of the cause of the fire up to the market value of the vehicle (eg if fuse box was the cause and damage also to the dash then the insurer will pay for replacing the dash but not the fuse box)

2) Cover for damage to third party property/ vehicles if you were proven negligent in causing the fire (normally unlimited or a few million limit for property)

3) There would be no cover for fire damage to other things you own (eg if the fire caused the driveway to melt)

TFO would cover (1) and (3) but not (2)


Where the vehicle is a total loss the exclusion of the cause of the fire is not normally factored in (often its something minor like a fuse or wire which is inconsequential in cost -v- the whole vehicle)

rosienoo

Inside Insurance, that is very helpful thanks. it was a total right off unfortunately, and we loved it. Hey ho what do you do. Firemen said it looked like simple wiring but who knows. Lucky it wasn't in the garage where we usually keep it!

lazer

rosienoo wrote: »

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

Sign up to a trial of which which cost £1 (however through quidco you get £2.50 cashback on it - just remember to cancel within the trial period)

And you can get car valuations as part of your membership

deutsch

maybe they won't fix the damage due to the fire.
but they are offering you a cash settlement as it is not economical to repair the vehicle.
your vehicle is therefore a total loss?
still open to negotiation.