Extremely low valuation from insurance

edison

AdrianC wrote: »

Fair enough. Many wouldn't have.


Because they think you overpaid.

Ok but they dont even say that and just keep saying the engineer wont increase the offer so nothing they can do. i cant even find a person to argue with at the moment.. And now i dont knoe how long it will take for their complaint team to get back to me and they could be useless as well. Then what's my options?

AdrianC

edison wrote: »

Then what's my options?

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

Johno100

AdrianC wrote: »

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

One problem potentially with that. The OP is seemingly dealing with the 3rd party insurers, so as there is no direct relationship they may not be able to help.

Aretnap

This slightly older version of the Ombudsman's guidance may be of use.

https://web.archive.org/web/20150320001942/https://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html

The current website has been simplified to make it more "consumer-friendly" but AFAIK the underlying policy remains much the same.

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.

As above if you're dealing directly with the third party insurer then strictly speaking the Ombudsman's guidance is not binding, as the Ombudsman only deals with insurer-customer disputes and you're not a customer of the third party's insurer. They should still use the same principles to value the car however. And if they don't then you could always put the claim through your own insurer instead - that way you can use the Ombudsman if you're not happy with their valuation.

debtdebt

Tell them you'll get an Accident Management Company to deal with your claim and provide you with a credit hire vehicle whilst yours is off the road. It might focus their minds.

edison

Aretnap wrote: »

This slightly older version of the Ombudsman's guidance may be of use.


The current website has been simplified to make it more "consumer-friendly" but AFAIK the underlying policy remains much the same.

As above if you're dealing directly with the third party insurer then strictly speaking the Ombudsman's guidance is not binding, as the Ombudsman only deals with insurer-customer disputes and you're not a customer of the third party's insurer. They should still use the same principles to value the car however. And if they don't then you could always put the claim through your own insurer instead - that way you can use the Ombudsman if you're not happy with their valuation.

This is interesting thanks. I guess 3 weeks can be defined as 'recent'... Only problem is I have accepted a interim payment from TP so not sure if my insurance company will still deal with my case. Will certainly try though

edison

debtdebt wrote: »

Tell them you'll get an Accident Management Company to deal with your claim and provide you with a credit hire vehicle whilst yours is off the road. It might focus their minds.

Tried it. Problem is the person i was speaking to just doesn't give a !!!!. She doesn't have any authority as well i believe..

caprikid1

Try asking for a full and final settlement for the accident of the value of the car, IE one cheque no hire car whiplash or anything else.


Do you currently have a like for like hire car ?


As I have said before , I have done this twice in order to get a fair figure and they jump at it. Owners get fixated on invoice price etc etc. In a situation like this a hire car could be mega money.

edison

caprikid1 wrote: »

Try asking for a full and final settlement for the accident of the value of the car, IE one cheque no hire car whiplash or anything else.


Do you currently have a like for like hire car ?


As I have said before , I have done this twice in order to get a fair figure and they jump at it. Owners get fixated on invoice price etc etc. In a situation like this a hire car could be mega money.

I have a F pace at the moment so sure it's not a like to like car.

Tried the hire car play but problem is the person im talking just doesn't care. She only say will make a note and will get back to me. Also it's my choice to choose how i wanna proceed so you just cant find a proper person with authority to have a fair conversation.

caprikid1

They will have a complaints procedure.


Ask for the e-mail address and spell it out to them clearly , what you want etc etc with a figure .Ask for a full and final settlement of X.


Be prepared to loose the hire car at the point they agree, but if you want the value of your car that is the quickest route.