Insurance offer for car writeoff

krlyr

I was involved in a car accident a couple of weeks ago, other driver admitted liability. His insurance (Admiral) are dealing with the claim directly.

They have come back and said my car is uneconomical to repair and gave me an offer of a valuation figure. I disagreed with this valuation on the basis I cannot buy a like-for-like car for that price, and they increased the offer minimally. I disagreed again and it went for a different valuation, and they have now come back with a final, higher offer.

Just wanted to know where I stand on accepting or disputing this offer? I could possibly get a similar spec car for it but it is at the lower end of the price range for the specs of my car so it will limit my options (and I need to go and view cars at the lower price range to see if they're of similar quality to what my car was - mine was well looked after with a full service history so there is the risk that these cheaper cars are lesser quality bodywork, for example)

DUTR

If you don't agree with their final higher offer then you may have to take it to court, however do note, chances are the offer is around the trade value of a similar model mileage, so you have to consider that too.

foxy-stoat

How bad is the damage, could it be repaired?

jimbo6977

DUTR wrote: »

If you don't agree with their final higher offer then you may have to take it to court, however do note, chances are the offer is around the trade value of a similar model mileage, so you have to consider that too.

The offer won't be a trade value, it'll be a genuine retail value, and as the OP has said, the valuation is adequate to purchase an equivalent car, although perhaps not adequate to purchase any and every equivalent car at any and every dealer screen price.

Bear in mind screen prices are inflated by all sorts of things like "minimum part-ex", "scrappage allowance", additional warranties, breakdown cover etc, none of which will be included in the settlement offer from Admiral or any other insurer.

From what the OP describes, the settlement figure seems reasonable but only they can decide that for themselves.

MataNui

Was a few years back we were in a similar position. Printed out a load of adverts from autotrader from dealers (ignored private sales) in a 50 mile radius and told them we wanted the middle figure. They agreed with no further arguments.

AdrianC

Yes, you're expected to get off your backside and go and look at other cars to see which are good purchases.
Yes, you're expected to negotiate something off the advertised price.

Sounds like the payout's in the right ballpark.

Nodding_Donkey

DUTR wrote: »

If you don't agree with their final higher offer then you may have to take it to court, however do note, chances are the offer is around the trade value of a similar model mileage, so you have to consider that too.

The insurance ombudsman has previously ruled that offers should be at retail not trade.

facade

AdrianC wrote: »

Yes, you're expected to negotiate something off the advertised price.

But the trend now is for the autotrader dealers to price competitively, as otherwise they won't even get the punters through the door, and there is very little, if anything, to be negotiated off the screen price.


In fact some of them try to charge more, by adding inflated HPI fees & admin charges.

mcpitman

MataNui wrote: »

Was a few years back we were in a similar position. Printed out a load of adverts from autotrader from dealers (ignored private sales) in a 50 mile radius and told them we wanted the middle figure. They agreed with no further arguments.

I 2nd this option, as have done this before, and if the evidence is provided and fair then the insurance companies have never had an issue.

MincePies

We had a similar experience a couple of weeks ago with our insurer. Original offer:£2000. Offer after sending screenshots of ads: £3500, negotiated up to £3600. An extra £1600 for minimal effort! We were happy with this figure as we'd purchased the car six months previously for £4k but put 10,000 miles on it since.

If the offer is fair, try one further push then accept IMO unless you have the time to go down the ombudsman/official complaints route.

Aretnap

MincePies wrote: »

If the offer is fair, try one further push then accept IMO unless you have the time to go down the ombudsman/official complaints route.

The OP says that he is dealing directly with the other driver's insurer so he cannot go down the ombudsman/official complaint route even if he wants to as he's not a customer of that insurer - the Ombudsman will only entertain a complaint about your insurer.

If he can't agree a valuation with the other driver's insurer his options are to take them to court, or to make a claim on his own policy instead, which does give him the option of going down the ombudsman route, but means having his excess deducted from the settlement and having his NCD reduced until the claim is settled.