Insurance undervalued my car

born_again

gunner786 said:

born_again said:

gunner786 said:

Grumpy_chap said:

I am still not clear:

gunner786 said:

Accident 1 + 3 both repaired. Have to because its a taxi and i need to be on the road. 

Both repaired by insurer, or you received the cash £2.8k then £2.3k (each less salvage) and then repaired yourself?

Maybe it is time to think about this car as needing replacement - I am not sure I'd want to be a passenger in a car that has been "written-off" three times in quick succession...

But if it is repaired to standard and undergoes a local council MOT?

>>They said because you had both accidents so close.

You didnt repair your car for accident 1 before accident 2.

Therefore your car was basically written off at the time of the 2nd accident so it was salvage value hence we valued it at £177.20<<

Which clearly it had not been repaired at the time of accident 2.

So were you taking fare's in a car that had not been repaired & written off by the insurance co?

Accident 1 was done and dusted. Repaired and passed mot by licensing.
The confusion is between 2 & 3

So what makes the insurance company think it was not repaired as you said?

>>You didnt repair your car for accident 1 before accident 2.<<

gunner786

born_again said:

gunner786 said:

born_again said:

gunner786 said:

Grumpy_chap said:

I am still not clear:

gunner786 said:

Accident 1 + 3 both repaired. Have to because its a taxi and i need to be on the road. 

Both repaired by insurer, or you received the cash £2.8k then £2.3k (each less salvage) and then repaired yourself?

Maybe it is time to think about this car as needing replacement - I am not sure I'd want to be a passenger in a car that has been "written-off" three times in quick succession...

But if it is repaired to standard and undergoes a local council MOT?

>>They said because you had both accidents so close.

You didnt repair your car for accident 1 before accident 2.

Therefore your car was basically written off at the time of the 2nd accident so it was salvage value hence we valued it at £177.20<<

Which clearly it had not been repaired at the time of accident 2.

So were you taking fare's in a car that had not been repaired & written off by the insurance co?

Accident 1 was done and dusted. Repaired and passed mot by licensing.
The confusion is between 2 & 3

So what makes the insurance company think it was not repaired as you said?

>>You didnt repair your car for accident 1 before accident 2.<<

Didnt repair accident 2 before accident 3. They assessed it for accident 3 damage. Wrote it off. Then 4 days later came to assess for accident 2. In the wrong order. And valued car for accident 3 £2000 and for accident 2 £177 due to it being written off for accident 3. They assessed it the wrong way around and are saying even if we correct it you will end up with accident 2 being £2000 and accident 3 £177. 

gunner786

AdrianC said:

So, just for clarity...

Collision 1. £2,800 value before.
Repaired, but Cat S marker.

Collision 2. £2,300 value before.
Collision 3. Unrepaired from collision 2. Cat S write-off again.

Can you please say how much they are trying to give you - IN TOTAL - in payouts between 2 and 3?

2. £177
3. £2000.
They did the damage assessment the wrong way around

AdrianC

So you're being paid out £2,177 in total for a car that was valued at £2,800 before collision 1 left it with a Cat S marker?

I'd say you're doing well out of it.

Grumpy_chap

So, for a car worth £3k, you've had a series of accidents in quick succession and received £5k.

gunner786

Grumpy_chap said:

So, for a car worth £3k, you've had a series of accidents in quick succession and received £5k.

4.5k.
£2k spent on repairs with damage from 2nd accident still pending and with my renewal in 4 weeks my current insurer has refused to insure me cos they only allow 2 accidents and others are quoting £4k+. Quite a jump from the £1.4k i paid last time out....

So yes a bed of roses

gunner786

No claims bonus should have been 5 years but because claims are still pending only getting 2 years. 

AdrianC

gunner786 said:

Grumpy_chap said:

So, for a car worth £3k, you've had a series of accidents in quick succession and received £5k.

4.5k.
£2k spent on repairs with damage from 2nd accident still pending

How much you spend on repairing the car each time is irrelevant.

The insurer wrote it off as structurally damaged after the first collision, and paid you out the value less salvage. If you'd repaired it and sold it immediately, you would not have received the same as before the collision, would you?
Because it's now a Cat S write off.

So when the second and third collisions happened in quick succession, you are only due the value of a car that was previously a Cat S write-off.
That's what they owe you, in total, between those two claims.
And, again, you've chosen to take the salvage value off the payout.
So let's say £2,800 less £300 salvage from 1 = £2,500 received.
Let's say £2,300 less £300 salvage from 2/3 = £2,000 received.
Total payout between the three - £4,500, for a car that was valued at £2,800 initially.

You spent £2,000 repairing after the first collision - so were £500 ahead.
And you still have it, albeit bent, plus £1,500 on top of the £500 left over from first time.
If you cannot repair it for £2,000, bin it and get a replacement.

Although it would probably have been more sensible not to retain the salvage, then you'd have had £2,300 in hand. If you think you can get £300+ from breaking it, though (after all the costs - including putting a value on your time), then it does make sense to have kept the salvage.

But you've chosen to repair it, and that's done - presumably because it was cheaper than replacing.

Frankly, I'm surprised your licencing authority allow you to continue using it.

and with my renewal in 4 weeks my current insurer has refused to insure me cos they only allow 2 accidents and others are quoting £4k+. Quite a jump from the £1.4k i paid last time out....

That's not part of any of the claims.
That's simply a reflection of the fact that any insurer sees your recent record and sees a customer that is likely to cost them money.

So yes a bed of roses

Perhaps you should stop being in so many collisions, then...?

gunner786

AdrianC said:

gunner786 said:

Grumpy_chap said:

So, for a car worth £3k, you've had a series of accidents in quick succession and received £5k.

4.5k.
£2k spent on repairs with damage from 2nd accident still pending

How much you spend on repairing the car each time is irrelevant.

The insurer wrote it off as structurally damaged after the first collision, and paid you out the value less salvage. If you'd repaired it and sold it immediately, you would not have received the same as before the collision, would you?
Because it's now a Cat S write off.

So when the second and third collisions happened in quick succession, you are only due the value of a car that was previously a Cat S write-off.
That's what they owe you, in total, between those two claims.
And, again, you've chosen to take the salvage value off the payout.
So let's say £2,800 less £300 salvage from 1 = £2,500 received.
Let's say £2,300 less £300 salvage from 2/3 = £2,000 received.
Total payout between the three - £4,500, for a car that was valued at £2,800 initially.

You spent £2,000 repairing after the first collision - so were £500 ahead.
And you still have it, albeit bent, plus £1,500 on top of the £500 left over from first time.
If you cannot repair it for £2,000, bin it and get a replacement.

Although it would probably have been more sensible not to retain the salvage, then you'd have had £2,300 in hand. If you think you can get £300+ from breaking it, though (after all the costs - including putting a value on your time), then it does make sense to have kept the salvage.

But you've chosen to repair it, and that's done - presumably because it was cheaper than replacing.

Frankly, I'm surprised your licencing authority allow you to continue using it.

and with my renewal in 4 weeks my current insurer has refused to insure me cos they only allow 2 accidents and others are quoting £4k+. Quite a jump from the £1.4k i paid last time out....

That's not part of any of the claims.
That's simply a reflection of the fact that any insurer sees your recent record and sees a customer that is likely to cost them money.

So yes a bed of roses

Perhaps you should stop being in so many collisions, then...?

All non fault mate. 
Also its not viable getting a new taxi in this current climateas that would need £20k to buy a new one within the time limits and get it plated ready as a taxi. So keeping this is the only option atm. Alot if taxi drivers are neck deep in debt now the ones who bought brand new cars and couldnt keep up with the repayments in covid19.

Grumpy_chap

Do you operate as a taxi (black cab hail and ride)?
Or as a cab (pre-booked company)
Or as a Uber?

Certainly, in the first two examples, very surprised that the car is deemed suitable.

Even for a Uber, I'd feel short-changed.