Total loss retention value

rs65

ba_baracuss said:

However the retention value was 22% of the first valuation and 27% of the second, improved valuation. This is the part I am seeking clarification on. They say it's an industry standard. 

They may have deal with a salvage company whereby the salvage value is based on a % of payout, in bands.  

born_again

ba_baracuss said:

Thanks for the reply.I was told they used a calculator used by all insurance companies that's verified by the ombudsman. 
As I said, they have upped the valuation, but also upped the percentage of the valuation they want to take as a retention fee.

So they have given you the answer. If the Ombudsman is happy with it, then you are on a hiding to nothing. No point in complaining as they know they will be backed up.
As it's also sensitive data, they do not have to tell you anything other than they use a calculator.

If it such a small amount of damage, why not withdraw claim (still be on your policy to be declared) and get it fixed yourself?

angrycrow

The other option is to find out which salvage company they use such as Copart. Register with the company and bid on the salvage, remember there will be buyers fees on top to take into account.

Cat n cars can see a lot of attention. On salvage auctions so it could easily go for 25% to 30% plus fees. When my Peugeot was written off cat c it made 25% plus fees and went overseas. This was moderate rear damage requiring rear panel, boot floor, bumper and tailgate in a very rare colour. 

Kattekwaad

ba_baracuss said:

They're not doing me a favour. Insurance companies don't do anybody a favour. It's not really a salvage anyway, it's a minor scrape cat N which they agreed to repair and then reneged on once the repair centre had collected it. 
They are obliged to give me a fair price so probably not a good idea for them to withdraw the offer. They want 27% of my value, hence I'm not very happy. 9% sounds very nice in comparison.

Aye but mine would have gone through copart at +/-£60.  Where as I paid £120 so the insurer was happy.  I did a few minor repairs kept it going another 9 months and scrapped it.

I presume your car isn't a banger?