No fault car accident problem with insurance

Meg4567

I was recently in a car accident and the other driver has admitted full liability. My car was deemed a total loss, it would cost more to repair it than what the car is worth. My problem is what they have given as pre accident value of my car does not match what you would pay to buy another similar car. They say they have used an independent engineer and Glass to value my car but the figures do not match the price of the car on the market. My insurance policy does say pre accident market value of your car. I thought this meant the cost for me to get another similar car? But they have said they will not negotiate with me unless I pay my excess but they would not recover my excess for me I would have to then pay to use their legal team and they might reclaim my excess that way after taking their own expenses. I just really need some advice. This was my first car accident.

Aretnap

Here's some info on how the vehicle should be valued

https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/insurance/motor-insurance/vehicle-valuations-write-offs

Note that adverts are not generally considered to be the best evidence of a car's value. The fact that someone advertises a car for (say) £5000 doesn't mean that it will sell for £5000 - the dealer might accept a lower offer, or it might sit on his forecourt attracting no interest until he readvertises it at a lower price. Hence in most cases the trade guides, like Glasses, carry more weight as they are based on actual selling prices.

As far as reclaiming your excess goes, if liability is not in dispute it's usually an easy process of contacting the other driver's insurers, sending them proof of what you've paid (eg a receipt from your insurer) and getting a cheque from them. You can do it yourself in most cases - you should not need a legal team.

MovingForwards

Glasses guide is the insurance companies guide to the valuation of vehicles.

Unfortunately, the values are a lot less than what cars are for sale at or even the guide prices in Parker's.

Has the third party's insurance company admitted liability? Or just the TP? 

If the TPI have, then put your claim through them and they will settle the pre-accident valuation.

You can attempt to negotiate this yourself by providing print outs of like for like vehicles within a reasonable radius, unless it's a rare car then you can use the whole of the UK.

No excess will be deducted.

If you are doing it through your own insurance company, send the print outs and see what they say, you can take it further if your evidence is massively different to what they are offering.

Your excess will be deducted from any money your insurance company sends you.

To claim the excess back from the TPI, you need to send a copy of your insurance company letter showing how much they have sent you (eg a copy of the top part of the letter where the cheque is attached, or a copy of their covering letter, with a letter from you saying the excess has been deducted from your claim, you enclose a copy of the proof and require settlement from them of this).

Do you have any other uninsured losses?

Who's your insurance company?

Meg4567

I'm insured with admiral but have been dealing mostly with auxillus. The cheapest car of the same model is 1500 more than what they have valued my car at even though the mileage is about 5000 miles higher on that ad. 
The other driver accepted full liability and it should be pretty obvious from the damage done to my vehicle. Accident at roundabout with my passenger side t boned as other driver didnt even seem to see the mini roundabout or my car. I haven't heard anything official in terms of liability. Auxillis and admiral just seem to want this open/shut asap without actually trying to help me to be in the same position as before. I've not incurred any other losses. I've got a settlement figure from my finance so I should break about even with them. Unless i was trying to claim a deposit for a new car as a loss. I had to take some time off work just with some aches and pains, the stress of it all and not sleeping well but my work were understanding and let me take a half day off flexi time I'd built up. 

Meg4567

Aretnap said:

Here's some info on how the vehicle should be valued

ancial-ombudsman.org.uk/consumers/complaints-can-help/insurance/motor-insurance/vehicle-valuations-write-offs

Note that adverts are not generally considered to be the best evidence of a car's value. The fact that someone advertises a car for (say) £5000 doesn't mean that it will sell for £5000 - the dealer might accept a lower offer, or it might sit on his forecourt attracting no interest until he readvertises it at a lower price. Hence in most cases the trade guides, like Glasses, carry more weight as they are based on actual selling prices.

As far as reclaiming your excess goes, if liability is not in dispute it's usually an easy process of contacting the other driver's insurers, sending them proof of what you've paid (eg a receipt from your insurer) and getting a cheque from them. You can do it yourself in most cases - you should not need a legal team.

I understand regarding negotiations on car price, but my insurance says pre accident market value of your car. The figure they have given would not be able to get that car at that price unless I went for a car that had done 50000 miles more than mine. I thought most dealers or car salesman had a limit on negotiation. If a car is on sale for 6300 they are not going to sell it for 5000 when they know they can get more than that. 

MovingForwards

Auxillus are an accident management company, have they provided you with a 'hire car'?
- if so, I urge you to read the terms and conditions of that as you have probably been provided with a credit hire vehicle; this is a can of worms in itself.
- do you have any savings? Access to a credit card with an available balance? If so, you shouldn't be in a credit hire vehicle, if that's what you have been given.

Just because the TP admitted liability, doesn't mean the TPI will. 
- have you got the TPI details?
- have you called them to find out what their position is?

The PAV is as per glasses guide, you need to find like for like vehicles across all sale platforms eg eBay, gumtree, autotrader, local selling sites etc. It's not very often a dealer advert is accepted as they are known for over inflating prices.

Meg4567

Yes I have been given one of these credit hire cars. I don't have a credit card and my savings are very minimal. I really don't know what I have gotten into. I'm trying to find out though. At the time after I had the accident I guess I just assumed you pay car insurance to help you if the worst happened. When I spoke to them on the phone they said they would not move on the figure given from Glass. I think I will need to make a complaint and reference different ads from autotrader and the like. What do you think they would consider a reasonable distance? Cars like mine within 50 miles? 20 miles? Similar age and mileage?

MovingForwards

How much is minimal savings? Enough to hire a car for a week or two? Buy a cheap £500-£1k car?
If so, you shouldn't be in a credit hire vehicle.

Depending on public transport, or having a lift off friends / family, whether the car is common and easy to get hold of, I would look at 30ish miles.

You need to compare like for like, this means same age (give or take a yearish, unless it was a new and improved model a year newer then that's not comparable), make, model, condition, rough mileage (upto 5k more or less would be acceptable), same specification, engine size, metallic or normal paint. 

An example, using my car, I would need a Kia Picanto, 999cc, L, metallic paint, 2005, 77k miles, no service history, 4 owners. (Before anyone corrects me on my engine size or model, I haven't got my log book on my lap as I write this)

I couldn't compare it to a top of the range 1300cc Picanto, 2005, with all optional extras, the best alloys, full dealer service history, one owner from new, 35k miles  etc  as they are completely different across too many areas.

If you can find something similar, but the model is the next one up as that's all that is for sale, then that's what you will have to do, or extend your search radius.

Meg4567

Yeah I only have about £600 total until the end of the month. I would be looking for an mg mg3 with about 7000 miles on it. 1 previous owner before me 65 plate. Full service history. 1.5 engine is all they come in. I cant find any at the price they have valued and within 50 miles you would be looking at 1500 more than they have quoted me

MovingForwards

Then look national, see what's about as a private sale. You are not looking for any at the prices they are offering you, what you need to do is see how much one would cost you, if you can find 3 or 4 examples, that will assist you with your complaint.

dacouch

Out of interest when was the accident?
Around this time of year if you had an accident in late December the value would be based on the value of cars at this time which can be a time of year when car prices drop due to Xmas and they start increasing around now

Why are Auxillis not offering to recover your excess?