Car is undervalued

Mungo76

EdGasket wrote: »

A fair price would be where you could go out and buy an equivalent car off a dealer's forecourt with minimum fuss so that you are back where you started. In practice insurers seem to use 'trade' prices but joe public can't usually repalce his car at a trade price, so why won't the insurers offer the proper retail price or be forced to? (I know because they need to make a profit )

In this case it's the OP's own (albiet through an accident management co.) who appointed and presented the valuation to the third party insurer. His beef is with his agents, or his engineers.

Also there is no science in "its a diesel land cruiser amazon and there has been 2004 models on for £20k so 2000 models are £7000 plus" - it could just be the way you presented it OP.

If you want to get anywhere, you'll need the evidence to come from an independent engineer who has good reason why the first valuation was wrong (i.e. wrong model/not taking into account extras) , not just a different opinion.

I'm not sure about your chances of complaint with any party, as all have done what they are supposed to do, just not to your advantage in your opinion.

That said, there would be no harm for you making the complaint against the accident management company, or the broker who put them onto you, or direct to third party company may have a third party complaints procedure.

Philluk

im not wanting to keep it they said i get x and keep the car.

ok will explain a bit more:
The claims management company CMC sent an engineer down after the accident who put a price of £4,600 and a scrap value of £500 so the CMC made arrangements for the TPI to send me a cheque for £4100 which they did. (i didnt want it) i said there are no cars of my type yr ect for sale for that money and there is no way i can get one, i had 2 independent valuations done and they both came out at £6,500. I went back to the CMC and said surely i have a right to be put back on the road with an equivalent vehicle, they went to the TPI with all my evidence and the TPI refused to offer any higher amount. today on auto trader there are only 20 Land Cruiser amazons on auto trader in UK, the cheapest is same yr as mine done more miles and has dents and scratches and is up for £6,490 yes i might get a couple of pounds off, but its 185 miles away from me, am i expected to go that far to look at a car? even if i did and bought it at a reasonable price of £6,300 im still £2k out of pocket.

Quentin

OK

Tell them you don't want it!

Your car is a write off so the wreck is their problem - unless you already accepted the offer

Mungo76

Quentin wrote: »

OK

Tell them you don't want it!

Your car is a write off so the wreck is their problem - unless you already accepted the offer

ok, I've been out of insurance for about 3 years now, is it now a third party's right for the third party insurer to have to accept the vehicle?

I'd say they (the tpi) have no rights to retain, and neither does the OP to enforce this.

I could be wrong though.

Mungo76

Philluk wrote: »

im not wanting to keep it they said i get x and keep the car.

ok will explain a bit more:
The claims management company CMC sent an engineer down after the accident who put a price of £4,600 and a scrap value of £500 so the CMC made arrangements for the TPI to send me a cheque for £4100 which they did. (i didnt want it) i said there are no cars of my type yr ect for sale for that money and there is no way i can get one, i had 2 independent valuations done and they both came out at £6,500. I went back to the CMC and said surely i have a right to be put back on the road with an equivalent vehicle, they went to the TPI with all my evidence and the TPI refused to offer any higher amount. today on auto trader there are only 20 Land Cruiser amazons on auto trader in UK, the cheapest is same yr as mine done more miles and has dents and scratches and is up for £6,490 yes i might get a couple of pounds off, but its 185 miles away from me, am i expected to go that far to look at a car? even if i did and bought it at a reasonable price of £6,300 im still £2k out of pocket.

It's a complaint against CMC, or court action again the third party insurer.

I'd go for number 1 first, they could be telling you this, but you don't know if they have really had a go or not.

Tricky though, it doesn't help much in the interim.

undaunted

Personally I'd gather your evidence and insist on dealing with the insurance co.(s) (your contract is with your insurer not a claims management co. so what are your insurers doing about your dissatisfaction?) direct not some third party monkey with no real interest in fighting your corner.


If you are sure that your valuations are reliable tell them they can either meet them or you'll fight it out in Court.

Philluk

i was told i cant deal with the TPI direct or rather they wont deal with me as the person in the back of my jeep and passenger were injured and their injuries are on-going.

is my claim with TPI or CMC, the CMC said they did all they could, but they were the ones who had it undervalued

Quentin

Philluk wrote: »

...is my claim with TPI or CMC....

You are the only one who can find that out.

Your op mentions your own insurer.

Was the cmc instructed by them or you?

undaunted

You stated above that your insurance is with Endsleigh & they instructed the Claims Management co.


Again, your contract is with your insurance co. If you are not happy with the way your claim is being dealt with I would therefore go back to them and demand that they address your concerns - including if necessary speaking to both the TPI and the Claims Management Co on your behalf. Presumably they will want your business again next year after all?

dacouch

Philluk wrote: »

i was told i cant deal with the TPI direct or rather they wont deal with me as the person in the back of my jeep and passenger were injured and their injuries are on-going.

is my claim with TPI or CMC, the CMC said they did all they could, but they were the ones who had it undervalued

I'm guessing your CMC told you this.

The TPI will have no issues speaking to you.

Just don't prejudice the CMC's claim for your passenger's injuries