Insurance & written off car- please help

Manuel88

Hello there,
I am writing on this forum to ask some info regarding a claim I made to my insurance after an accident. first of all I have to say I am quite new in this country so am not very familiar with these sort of things.
In short after the first valuation my car has been written off, and the main problem is that I have an outstanding finance.

Below is a part of the e mail they have sent to me:

"We have decided to settle your claim on a ‘total loss’ basis. We have based our valuation on the current market value of your car, calculated as follows:

Market Value £7,500.00
Less Excess £250.00
Less Salvage Value £2100.00
Settlement Figure £5,150.00

So I can understand the excess, but why they are keeping the salvage value. Just need to know if is that fair?
Anyone can give me advices please??

Thanks

Quentin

This looks to be that you have asked to keep the car.


They have agreed to let you keep the car and are selling it to you for £2100.


ie the written off car is the "salvage", which you are keeping, and the price is £2100 which they have deducted from the market value of the car prior to the incident.

huckster

You can challenge the market value if it is not enough. The market value must be what it would cost you to buy a car from a garage of the same make, model, mileage and condition. So get checking prices local to you and also check guides like glass.co.uk.

If you provide them with evidence to support a higher value, they may increase their offer.