Insurer undervaluing vehicle

Scrapit

With many thing, it's not what you think is tight it's what you can prove. Get some (More than one) ads for the same vehicle at the price you are expecting. Can't do that? Then they will pay you what they say they will and that's it.

Car_54

KimJongUn88 said:

We need the make, model and mileage to be able to make a fair assessment on the value.

Who are "We", and how are we better qualified than Glass's Guide?

Clive_Woody

Car_54 said:

KimJongUn88 said:

We need the make, model and mileage to be able to make a fair assessment on the value.

Who are "We", and how are we better qualified than Glass's Guide?

AdrianC

Clive_Woody said:

Car_54 said:

KimJongUn88 said:

We need the make, model and mileage to be able to make a fair assessment on the value.

Who are "We", and how are we better qualified than Glass's Guide?

No, I'm Spartacus.

facade

When you get to sub £2000, 'bikes go for what they sell for, and you can throw Glass's guide away. Last year when we got nice weather in April, and no virus lockdown, prices were way way above what I thought 'bikes were worth, and they were selling.

From £1000-£2000 it very much depends on the condition, and how much the buyer wants it. 

MEM62

OP, Are you going to answer the question and give us the details of the bike's make and model etc?  

Manxman_in_exile

It's not a 'bike though - is it?  It's a scooter according to the questions the OP asked their insurer.  I remain to be convinced that an 11 year-old scooter can be worth over a grand let alone nearly two - unless it's a collector's item.

Bikeexplorer85

Hi Guys,

*Can you show me what market research you have done to come your offer please as so far you have not provided any reference material?

As described above, we calculate the valuation of a vehicle by using the same guides as the Financial Ombudsman Service. These guides use real transaction values instead of advertised prices which are inevitably subject to negotiations. The engineers will then have a look on websites such as Auto-trader to check that the valuation is still inline with what’s being offered for the vehicle in question. In your case, the engineers were unable to find any vehicle for the same specification, year and mileage so was unable to compare.

As you can see theyre using autotrader to cross check the value, and yes there isnt one for sale, same year same mileage etc, HOWEVER, by mapping with other years, etc, a computed value can be made of circa £1700 IMO...

Bike is 2009 Honda SH125, the Ferrari of the scooters, the best, hence why the value for them is so high. CAPS and all the other guides are all BS for bikes.. they're more for cars. 

Wont let me post links but on AT...

2010 £1891

2012 £2195

2013 £2495

  

Bikes are desirable for their uses and also licence category hense why a little 125 scooter is worth more than my beautiful 1999 ZX6R, because you can ride it without a bike licence. 

I bought a 1999 ZX7R for £950 and sold it a year later for £1700, guides are not useful on aged bikes that appreciate in value, market forces etc.

another example owned a 2007 DRZ400SM bought a few years old for £2700, sold for 2500 10 years later... 

Anyway I know the value of my bike, my question is about the court process. has anyone done this before and what laws or cases can I quote in my particulars of claim?

Cheers

Scrapit

MEM62 said:

OP, Are you going to answer the question and give us the details of the bike's make and model etc?  

What difference does that make?

Scrapit

Bikeexplorer85 said:

Hi Guys,

*Can you show me what market research you have done to come your offer please as so far you have not provided any reference material?

As described above, we calculate the valuation of a vehicle by using the same guides as the Financial Ombudsman Service. These guides use real transaction values instead of advertised prices which are inevitably subject to negotiations. The engineers will then have a look on websites such as Auto-trader to check that the valuation is still inline with what’s being offered for the vehicle in question. In your case, the engineers were unable to find any vehicle for the same specification, year and mileage so was unable to compare.

As you can see theyre using autotrader to cross check the value, and yes there isnt one for sale, same year same mileage etc, HOWEVER, by mapping with other years, etc, a computed value can be made of circa £1700 IMO...

Bike is 2009 Honda SH125, the Ferrari of the scooters, the best, hence why the value for them is so high. CAPS and all the other guides are all BS for bikes.. they're more for cars. 

Wont let me post links but on AT...

2010 £1891

2012 £2195

2013 £2495

  

Bikes are desirable for their uses and also licence category hense why a little 125 scooter is worth more than my beautiful 1999 ZX6R, because you can ride it without a bike licence. 

I bought a 1999 ZX7R for £950 and sold it a year later for £1700, guides are not useful on aged bikes that appreciate in value, market forces etc.

another example owned a 2007 DRZ400SM bought a few years old for £2700, sold for 2500 10 years later... 

Anyway I know the value of my bike, my question is about the court process. has anyone done this before and what laws or cases can I quote in my particulars of claim?

Cheers

Same advice, doesn't matter you think, it's still what you can prove. More so if going to court.