Car possible write-off

gt568

Some jerk has driven into the back of our car and given its age ('05 Kia Cerato) I suspect it will be a write-off. If it is how does the replacement vehicle work from the insurance...do we get market value? The price we paid? Set amount?

Never had an accident before hence my confusion and we're with admiral fully comp if that makes any difference?

forgotmyname

They want to give you as little as possible. So the 1st offer maybe a lot less than you may hope for.

Depends what you value the car at.

Autotrader adverts

2005 1.6LX £790 (trade)

Few more at £1000 - £1200 Then prices climb.

What do you value yours at?

Retrogamer

From my experience, they will offer the lowest market value they can first, then you need to try and justify why yours is worth more.

gt568

!!!!!!, no idea what it would be worth, not a lot I suppose.

Looks like we'll be out of pocket.

Aretnap

Financial Ombudsman approach to valuation here

http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

Basically you should be entitled to enough money to buy a car of similar age, condition and mileage from a reputable dealer. That may end up being a bit less than the advertised prices in AutoTrader as advertised prices usually have a bit of room for negotiation built in - the actual selling prices may well be lower.

arcon5

You might be better off going directly to the third party insurance company for a payout. Especially if yours is coming up for renewal as they will only increase your NCB if they've been reimbursed by the other party - can muddle the waters a bit if the claim with your insurer is pending.

gt568

Admiral want to hand us over to a no fault claims handling agency...this sounds dodgy to me. Is it?

gilbert_and_sullivan

gt568 wrote: »

Admiral want to hand us over to a no fault claims handling agency...this sounds dodgy to me. Is it?

Assuming the accident is clear cut with all fault pointed at the other party, plus independent witnesses always a bonus, then the cliams handler might be a good (second) choice....remember Admiral will get a referral fee from the claims handler, hence their enthusiasm.

If this were me i would contact the third party insurers and have a chat with them, if they have any sense they will be much happier to either repair your car or pay the write of value quickly, should provide you with a basic sensible courtesy car for a short while, you might find them a little more generous in the write off value (reject the first offer) if there is no injury or credit hire claim.

The claims handler route will be far more expensive for the third party insurer, they will put you in a much nicer credit hire car and if you have an injury (which suddenly manifests itself) help you through the claims process....what you do here is your choice.

However if the third party insurer dispute the claim and if it eventually goes 50/50 (things do go wrong with accident blame) then your own insurer may not be pleased at a credit car hire bill of £2000 for a month and might decline payment of that, these things have bitten people in the backside before.

dacouch

gilbert_and_sullivan wrote: »

Assuming the accident is clear cut with all fault pointed at the other party, plus independent witnesses always a bonus, then the cliams handler might be a good (second) choice....remember Admiral will get a referral fee from the claims handler, hence their enthusiasm.

If this were me i would contact the third party insurers and have a chat with them, if they have any sense they will be much happier to either repair your car or pay the write of value quickly, should provide you with a basic sensible courtesy car for a short while, you might find them a little more generous in the write off value (reject the first offer) if there is no injury or credit hire claim.

The claims handler route will be far more expensive for the third party insurer, they will put you in a much nicer credit hire car and if you have an injury (which suddenly manifests itself) help you through the claims process....what you do here is your choice.

However if the third party insurer dispute the claim and if it eventually goes 50/50 (things do go wrong with accident blame) then your own insurer may not be pleased at a credit car hire bill of £2000 for a month and might decline payment of that, these things have bitten people in the backside before.

The OP's own Insurer would not have to pay the OP's credit hire bill irrespective of what blame is apportioned. The only people liable for this would be the third party or depending on the wording of the credit agreement the OP.

gt568

See being the risk averse type, I'd rather go through my own insurance, that seems less risky to me?

dacouch

gt568 wrote: »

See being the risk averse type, I'd rather go through my own insurance, that seems less risky to me?

As Quentin pointed out to you on your other thread, if you claim through Admiral they (Last time I checked) cancel your policy with no refund once they pay out for your written off car.

As you've only recently renewed your policy this could cost you a lot of money. If you throw into the mix Admiral are the Ryan Air of the Industry it would generally be in your situation to claim directly off the other Insurer or via a claims management company but preferably not Albany