How to Assess Car Write Off Value

sithemadmonkey

You may well not have to build in the negotiation discount in the Glass'/CAP guides - I can't remember whether they are based on actual sold prices or advertised prices.

You will have to factor it in if using AutoTrader or other advertisements to back up your case though.

You need to establish who is dealing with the car repairs/write off - are they acting for Swinton (and whoever underwrites the policy) as the insurer's agent, or are they acting as a Claims Management Company, who will be claiming any outlay directly from the Third Party's insurance? If it's the latter then you won't have any FOS protection as they don't cover CMCs. Either way, you will still be able to negotiate the write-off price (and the FOS guidance is still a good guide regardless), but you won't be able to threaten to go to FOS if it's a CMC.

Quentin

Regarding your excess - if Swinton have passed you on to Quindell rather than handle your claim themselves it looks like you are not claiming from your own policy.

If that is the case you won't have any excess deducted.

As previously posted find out exactly what is happening here - are you claiming off your own policy or direct from the third party (via Quindell)

AVENUE

It appears that Quindell are claiming direct from the other insurers so ive been told not to worry about the excess. When you ring the Swinton claimline you automatically get passed through to Quindell now!


Apparently the guides such as Glass etc are based on sold prices not advertised prices. I'm a bit worried now though if Quindell are not regulated by the Financial Service Ombudsman what leverage I have if they appear to undervalue the car and what options I have if I disagree with them!


They've said the Hire Car I have I can keep until 7 days after the cheque is sent to me for the value of the car. I guess that would be classed as fair, but I cannot afford to buy a replacement vehicle really until ive got settlement, and that doesn't give me much time to get out & about to source a new car, which isn't that straightforward for me, as I cant afford an expensive vehicle, but it has to be suitable for my Son who is a wheelchair user, so I need to take him & the Wheelchair with me.


Interestingly the 3rd parties insurers have written to me asking me to get in touch with them as their client accepts full liability. They say they can settle claims more quickly than a claims management company. They also say the full cost of any hire car provided to me via my own insurers might not be covered if they can provide a like for like cheaper? Quindell say this happens all the time when 3rd parties accept liability and not to worry about it, but I'm free to use them if I wished too!


Many Thanks - Avenue

vaio

does your agreement with Quindell make you responsible for the credit hire costs if they can't be recovered for any reason?

AVENUE

vaio wrote: »

does your agreement with Quindell make you responsible for the credit hire costs if they can't be recovered for any reason?

I'm not sure....I signed a mitigation statement, which there isn't another copy of & posted it off to them. There is mention of this in the paperwork I still have but it makes reference to me having a duty to keep costs reasonable such as returning vehicle on time and doesn't appear to mention hire costs. My current car is an Automatic Estate & that's what I asked for and have got. I need an estate because my son is in a wheelchair! They charge an extra £10 per day for those 2 "extras" but they are necessary in my case! The only other thing ive noticed is the hire charge is £53 per day plus the £10 extra. The 3rd party insurers general letter to me says that "usually" they offer a like for like car "where available" for £29.99 per day....I'm assuming that's probably a start price (it doesn't say) for a smaller vehicle and wouldn't apply to something like what ive been provided with!


My own agreement with Quindell states for me not to enter into discussion with 3rd party insurers & refer them to themselves!


Many Thanks - Avenue

dacouch

Sounds like you're in a "Credit Hire Car" which are hire cars for which you sign a credit agreement agreeing to reimberse the Quindells after one year if they do not recover the costs of the credit hire car.

It should be noted that in most cases now days that the credit hire companies do not pursue you for the money unless you have acted fraudulently or do not assist them in recovering the money.

Credit Hire vehicles are considerably more expensive than normal hire cars hence the difference in the two prices.

Generally you would be put in an equvilavent car to your own so I'm surprised you're paying £10 a day extra to have an automatic estate.

AVENUE

dacouch wrote: »

Sounds like you're in a "Credit Hire Car" which are hire cars for which you sign a credit agreement agreeing to reimberse the Quindells after one year if they do not recover the costs of the credit hire car.

It should be noted that in most cases now days that the credit hire companies do not pursue you for the money unless you have acted fraudulently or do not assist them in recovering the money.

Credit Hire vehicles are considerably more expensive than normal hire cars hence the difference in the two prices.

Generally you would be put in an equvilavent car to your own so I'm surprised you're paying £10 a day extra to have an automatic estate.

That's the figure it says on the agreement, so perhaps that's something that 3rd party might question, but not much I can really do about that I guess....i'll leave it for them to bicker over. I'd already got the hire car 3 days before I received any contact from 3rd party insurers!


If the value they assess my car at is much less than the Glass & CAP valuations minus a negotiation amount, what steps can I take to try to make them up the offer, do I have recourse to anyone if we can't agree on a value?


Many thanks - avenue

Quentin

AVENUE wrote: »

.....If the value they assess my car at is much less than the Glass & CAP valuations minus a negotiation amount, what steps can I take to try to make them up the offer, do I have recourse to anyone if we can't agree on a value?....

Ultimately you have court. (Were your insurer dealing with the claim you would have recourse to the FOS - more attractive than court as there is no cost to you to use the FOS (you pay all court fees if you use the court, and lose them if you lose the case - and if you lose you also have to pay the winners expenses for attending court)

You can gather evidence to support your valuation (ads for similar models on sale at dealers), though asking prices normally include a sum to allow the price to be negotiated down.

AVENUE

Quentin wrote: »

Ultimately you have court. (Were your insurer dealing with the claim you would have recourse to the FOS - more attractive than court as there is no cost to you to use the FOS (you pay all court fees if you use the court, and lose them if you lose the case - and if you lose you also have to pay the winners expenses for attending court)

You can gather evidence to support your valuation (ads for similar models on sale at dealers), though asking prices normally include a sum to allow the price to be negotiated down.

Its very annoying really that just because Swinton decide to use a claims management company that you don't then have the same easy access to challenge them on valuation figures. Its not really as if I was given a choice......other than of course to deal direct myself with the 3rd party insurers which didn't seem quite the right thing to do really as I'm just assuming they will try harder to get away with not paying as much out, but that might be the wrong way of looking at it. I guess most folk would though automatically think its better dealing through your own insurers in the hope they will secure you a better deal?


Many thanks - Avenue

dacouch

It may well be that Swintons are dealing with your own damage and have farmed out the other (Highly profitable) parts of your claim.

Do you know if you have to pay your excess?

One of the benefits of not claiming off your own policy is that typically Insurers will deduct any remaining instalments from your claims settlement. Some will also try and cancel the policy and refuse to allow you to cover a replacement car although in most cases the Ombudsman has deemed this unacceptable