Insurance valuation following van write off

Flodden

6 weeks ago I purchased a second hand van for £9500, I insured it fully comp for that value. Yesterday the van was written off as I hit a deer on the dual carriageway. Today I got a valuation from the insurance company of £5250. So a depreciation of £4250 in 6 weeks. I’ve spoken to various van companies including the dealer I bought one from who all say that model is like gold dust and prices have risen by approximately £1500 in the past few weeks. He’s prepared to provide that info in writing and some comparative models. But what’s the best way of getting the insurance company to sit up, and give a fair and decent offer. 

Please can you help, I’m at my wits end this year with all the Covid issues, and the van I saved to buy is now written off which is seriously affecting my ability to earn and is it legal to take a premium based on purchase price and then offer a valuation so far below that price 6 weeks later 

many thanks for reading. 

Sandtree

The dealer you bought the vehicle from is unlikely to say that he ripped you off is he?

The Ombudsman's advice is at https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/insurance/motor-insurance/vehicle-valuations-write-offs 

Flodden

He isn’t, you’re absolutely correct,  it we looked all over for one of these vans, before I bought it, and nationally the price was similar to what I paid. And looking today the prices nationally have gone up... I guess “because of Covid” like everything else. 

Sandtree

Flodden said:

He isn’t, you’re absolutely correct,  it we looked all over for one of these vans, before I bought it, and nationally the price was similar to what I paid. And looking today the prices nationally have gone up... I guess “because of Covid” like everything else. 

The problem always with these things is that you are looking at asking prices... selling prices are much harder to get to and is why Glasses, CAP and Parkers can charge what they do for their guidebooks. Covid, and Brexit, has had strange impacts on many things; I've no idea about van prices but in my hobby asking prices have shot up and dealers aren't advertising the normal discounts however I've been offered deeper discounts than ever before (supply is a separate issue). There is another complaint in the Motoring section on a Van claim and whilst the OP maintains a similar story of high current prices others have claimed getting better prices recently. 

Ultimately your route is to complain to the insurer and if you aren't happy with their response then go to the Financial Ombudsman (assuming your business is small enough to be covered). The link previously provided advises how the ombudsman considers these cases

Flodden

Parker’s guide shows the price is actually higher than we paid. So I’ll go back to insurance company and sent them the parkers price and informed them I will take this to FSO 

thank you