help

anthonypw

Had a non fault serious RTA only had the car two weeks, the insurance company offered £2000 less than I paid.. any advice, I have tried the ombusman

Quentin

What was the FOS response?

paddyandstumpy

Was your car new?

You should be put back into the position you were in pre-loss; if you're unhappy with the settlement offer then you have to justify why that is not enough.

Forget what price you paid for the car; what price are directly comparable cars now?

anthonypw

I paid £7500 two weeks before the accident the forecourt price was £8000 they offered me £6000 I refused and they came back with £6300 I've looked at a similar car on the market £7995 same year bit more mileage

anthonypw

They said as long as the engineer uses the price guide (glass I think ) set by them they cant do anything

anthonypw

it was not new 92 plate

dacouch

Are you claiming from your own policy eg dealing with your own Insurers and an excess will be deducted from your payment. Or are you claiming via a claims management company or directly from the other Insurer.

The first option means you will receive what you paid for the car two weeks ago (Less your excess), the second two options mean you will receive the lower offers.

If you can tell us we can advise you how to proceed

anthonypw

I am claiming through my own insurance company I presume that they will claim from the third party

FlameCloud

If the FOS will not assist, and your insurer refuses to budge, your only option is to either pursue the third party driver for the costs or take your own insurer to court.

dacouch

anthonypw wrote: »

I am claiming through my own insurance company I presume that they will claim from the third party

The Ombudsman will require your Insurer to pay you the amount you paid for the car as you had purchased it recently.

Write an "Official Complaint" to the Insurers and remind them of this from the Ombudsman.

"9. vehicles recently purchased second-hand

If the consumer only recently bought their car second-hand, we generally assume that they paid the market value price – although we will consider any evidence the insurer can provide that this was not the case."

https://web.archive.org/web/20140327134518/http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

The FOS have recently decided to make the guidelines page more user friendly for the public and in doing so removed most of the technical information. They will still use the same criteria on recently purchased vehicles so if your Insurer cannot prove the price you paid for the vehicle two weeks ago was incorrect. That is the price they will need to pay.

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

You may find the Insurer try to fob you off, if you are prepared to play the long game, you should good the higher amount.

Some people report that when they have rung the Ombudsman (FOS) that the FOS have rung the Insurer and reminded them they are wrong and that the issue with the claim was resolved quickly. This does not always work but it is worth a try

forgotmyname

£8000 for a 1992 what??? Do I really need to ask?