Car possible write-off

Stoke

Aretnap wrote: »

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.

By using adverts for similar aged cars with similar mileage etc, I was able to up the negotiators offer by near thousand pounds on a Pug 106.

gt568

dacouch wrote: »

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.

Just spoke to admiral and they said they pro-rata the refund on remaining policy time. It's a multicar policy, maybe that makes difference?

Aretnap

Current ombudsman guidance (link) is that the insurer should, at a minimum, give you the option of transferring the balance of your policy to the your car. Refunding the balance (perhaps less a cancellation fee) would presumably also be acceptable. Perhaps Admiral have changed their practices in light of this. Their current policy book (page 26) says the policy will be cancelled, but doesn't explicitly say how much, if any, premium gets refunded.

Foxy-Stoat_3

If you haven't yet told them your mobile number, do buy a pay and go sim card and give them this number.....if you have already given your mobile number out they will of sold your details to claims handlers and solicitors and expect to get bombarded with phone calls and texts for the next 4 years about all the personal injury compensation claim.

gt568

Foxy-Stoat wrote: »

If you haven't yet told them your mobile number, do buy a pay and go sim card and give them this number.....if you have already given your mobile number out they will of sold your details to claims handlers and solicitors and expect to get bombarded with phone calls and texts for the next 4 years about all the personal injury compensation claim.

Oh !!!!!!! Thats all I need.

Foxy-Stoat_3

gt568 wrote: »

Oh !!!!!!! Thats all I need.

Tell me about it....4 years later and I still get calls....lately I have been asking them to hold for a minute and I put the phone next to the speaker where we have Christmas songs playing the whole time!!!

Quentin

gt568 wrote: »

Just spoke to admiral and they said they pro-rata the refund on remaining policy time. It's a multicar policy, maybe that makes difference?

Admiral do cancel the policy after a total loss payout (no refund).

Presumably though they cannot keep the portion of the premium remaining on the other car which is the "pro rata" refund they refer to.

Retrogamer

I've heard of insurance companies doing that before.

Once the car is wrote off, it no longer exists so it cannot be insured and they cancel the policy. It means you lose any accumulated no claims from last renewal to the date the car is written off.

atrixblue.-MFR-.

IF you call admiral, they do offer a period in which to insure another car onto the same policy like a change of vehicle, its usually within 14 days in which to buy one and notify them from date of pay out, they did this for the BIL who's pug got totaled he had a pay out and they said they would cancel the policy at midnight that night, he said he was buying a another car and they said they would give him 14 days to call them back with the new vehicle details in which to keep the current policy active after that they would close the policy.

Quentin

Whenever contemplating a new car which you want to put on an existing policy you should check with the insurer it is acceptable to them before buying.

If they won't cover it you are then left with no alternative but to cancel and get a new policy elswhere and swallow the cancellation fees as well as lose any NCD which completing the policy year would have earned you.