Car W/O - Value of Car Dispute

Coeus

Hi all,

Thanks for taking the time to read this.

My GF unfortunately had an accident and wrote off her car (she came out with a few bumbs and scrapes!).

She was with Hastings Insurance and the vehicle was a Fiat Punto bought for £2,000 early last year (and by all accounts in very good condition!).

She took out fully compensation insurance on the vehicle.

Hastings Insurance have only stated the value of the car at £349 which seems absolutely ridiculous! Then there is rightly the £250 excess to knock off after this.

The rationale behind there decision was in its history (before my GF time) the car had been involved in a RTA.

Do we have any options to challenge the valuation?

Any thoughts would be greatly appreciated


Regards,

Coeus.

Cornucopia

The agreed value is based upon market value - start with the book value of the car, and work from there. You may be able to get e.g. AA/RAC to assist in determining a fair valuation especially if you are members.

IIUC, you will be negotiating with them over this valuation, and ultimately trying to agree upon a figure. (If you cannot reach a satisfactory agreement, then you have the standard complaint mechanisms open to you).

Quentin

Just being involved in an accident doesn't seem reason to reduce its value (unless the damage wasn't repaired), or was it written off previously?

If so, and she was aware it was a previous write off, then they don't necessarily have to pay the market value.

But if it was previously written off and she never knew this, then that avenue is closed to them.

The FOS cover write off value here:

http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html#14