car write-off valuation issue

sb0137

Hi, I was recently involved in a accident in which a van drove into my car at high speed. The insurance has written the car off as not economical to repair. I bought the car, A1 SE reg14 from a main dealer 10 months ago. The insurance offered me £ 11500. There are no similar cars for sale in the area, just 3 at a dealer 100 miles away going for £ 12000, although 2 years older than mine. I haven't accepted the settlement, so they are getting a second valuation. The problem is that there are no cars of same age, reg 14, for sale, though plenty of 2011, 2012 and 2013. Anyone got thoughts or been through similar experience? Thanks.

huckster

You can get retail values from the guides glass.co.uk, Parkers. You could also approach Audi who will have an authorised used car distribution division, that will have a list of cars available, that should include cars similar to yours. You can't really go by what you paid for the car 10 months ago, as values would have changes, more mileage, wear, there was a warranty for a longer period etc.

It is your task to compile the evidence to support a value that would enable you to buy a car, similar to the one written off.

Your Insurers will work with you, to look at the information available, but if there are no exact cars for sale, they will usually go by what is shown in guides such as glass.co.uk.

There is the option to involve the FOS, if you cannot agree a valuation with the Insurers, but this would just delay matters further. Better to see what information you can find and to come to an agreement you are satisfied with.

forgotmyname

You can get a Nice Cat D for that money..Maybe they expect you to get one of those?

Whats the exact spec? engine? etc? Why no others for sale? Over 600 A1 2014 and newer models for sale on autotrader alone.

muggles

Beware that some insurers have a different version of the Glass's Guide to the one available publicly...naturally it has lower valuations in it, and the ombudsman will uphold this lower valuation if you challenge them. Been there, done that, ended up with less money than we should have!

huckster

muggles wrote: »

Beware that some insurers have a different version of the Glass's Guide to the one available publicly...naturally it has lower valuations in it, and the ombudsman will uphold this lower valuation if you challenge them. Been there, done that, ended up with less money than we should have!

The OP can pay the fee on Glasses guide and get a specific value for the car. It should be up to date and Insurers should not have a different value based on the same information.

dacouch

muggles wrote: »

Beware that some insurers have a different version of the Glass's Guide to the one available publicly...naturally it has lower valuations in it, and the ombudsman will uphold this lower valuation if you challenge them. Been there, done that, ended up with less money than we should have!

It's more a case of the General Public have access to a different version to the Insurers.

The public's version has this disclaimer

"2. USE OF THE SERVICES

Please remember that a Glass’s Valuation is a guide only. The values provided by this service are not insurance settlement values, cash values, or replacement prices and should not be presented as such."

http://www.glass.co.uk/terms/