Extremely low valuation from insurance

force_ten

edison wrote: »

Of course i told them the spec. The engineer who looked at the vehicle also agree it should worth more than the online estimated basic value. I just cant understand with a vehicle purchased in 3 weeks together with the original purchase invoice, how can they not to pay the invoice value.

because the invoice value was probably more than the actual value of the car, insurance estimates dont normally reflect dealer prices

this is why the dealer offers GAP insurance and is something that you could have fallen back on

did the selling dealer offer GAP insurance

edison

caprikid1 wrote: »

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.

Thanks. I just dont know if the complaint procedure will actually help or it's just another helpless guy with no authority trying to drag the case longer and longer..

edison

force_ten wrote: »

because the invoice value was probably more than the actual value of the car, insurance estimates dont normally reflect dealer prices

this is why the dealer offers GAP insurance and is something that you could have fallen back on

did the selling dealer offer GAP insurance

Bought it from a independent porsche specialist so no gap insurance was offered. I get you point but the insurance is using a valuation based on a car with 0 option on it. But mine got loads of options and it comes from porsche factory as well. But they still won't consider it.

I will certainly consider to buy gap insurance next time just so save all this sh*t for sure.

force_ten

edison wrote: »

Bought it from a independent porsche specialist so no gap insurance was offered. I get you point but the insurance is using a valuation based on a car with 0 option on it. But mine got loads of options and it comes from porsche factory as well. But they still won't consider it.

I will certainly consider to buy gap insurance next time just so save all this sh*t for sure.

even an independent should be able to offer GAP and i am really surprised they dont as it is normally a nice little earner for them as they normally sell it at inflated prices

when i bought my last car i had to sign to say that i had declined gap, i went on the the website of the gap insurance underwriter and they offered a consumer product that was about 25% of the price of the one the dealer was offering, Thankfully i have not had to use it

I hope you come to some agreement soon it would be in the interest of the insurance company as an F Pace on rental will soon rack up some hefty rental fees

edison

bit of update now. I talked to the head of engineer of TP and he is saying they don't necessarily need to pay the invoice value as it's a non-fault claim so they hold their ground and it will be the final decision. He said I might entitled to do so with my insurer but not with TP.

I have talked to my own insurer(admiral) and they said they gonna talk to the TP insurer to see if can get the transferred to them.

edison

force_ten wrote: »

even an independent should be able to offer GAP and i am really surprised they dont as it is normally a nice little earner for them as they normally sell it at inflated prices

when i bought my last car i had to sign to say that i had declined gap, i went on the the website of the gap insurance underwriter and they offered a consumer product that was about 25% of the price of the one the dealer was offering, Thankfully i have not had to use it

I hope you come to some agreement soon it would be in the interest of the insurance company as an F Pace on rental will soon rack up some hefty rental fees

Yes gap insurance def worth it. TP said they cant provide hire car anymore as they have made a intermit payment to me.