Total loss claim

welliesrgreat

Our Iveco Tipper 2005, used for business, was recently damaged whilst on the drive of our client. A Bradfords delivery driver dropped a pack of timber on the bonnet whilst transferring from the kerbside using a hi ab!
 It has been assessed as a total loss. We want to keep it as it is still drivable. The insurance company are offering £2815. This will not cover a replacement vehicle of similar specification. They have asked us to provide 3 examples of similar vehicles for sale - I cannot find any! They just don’t exist for this age or model of vehicle. We have owned it from new. 

Can we expect to claim for uninsured losses - such as loss of earning whilst with out a vehicle? Time spent on the phone to insurance companies? We are self employed - difficult to prove hourly/daily rate. 

Should we go through our own insurance company or fight for more money from Bradfords insurance (Protector). 

AdrianC

welliesrgreat said:

Our Iveco Tipper 2005, used for business, was recently damaged whilst on the drive of our client. A Bradfords delivery driver dropped a pack of timber on the bonnet whilst transferring from the kerbside using a hi ab!
 It has been assessed as a total loss. We want to keep it as it is still drivable. The insurance company are offering £2815. This will not cover a replacement vehicle of similar specification.

Is that what they're offering as the market value (they take it), or the market value less salvage (you keep it)?

They have asked us to provide 3 examples of similar vehicles for sale - I cannot find any! They just don’t exist for this age or model of vehicle.

Can they be extrapolated from newer or slightly different similar vehicles?

https://www.financial-ombudsman.org.uk/businesses/complaints-deal/insurance/motor-insurance/vehicle-valuations-write-offs

We have owned it from new.

That's very unlikely to make any difference to the value.

Can we expect to claim for uninsured losses - such as loss of earning whilst with out a vehicle?

You have a duty to mitigate your losses - so the absolute most would be the hire cost of a similar vehicle.

Time spent on the phone to insurance companies? We are self employed - difficult to prove hourly/daily rate.

Again, mitigation... If you claim you've spent £1,000-worth of time arguing over £500...

Should we go through our own insurance company or fight for more money from Bradfords insurance (Protector). 

Given there's no issue over liability, the usual advice would be to stay with the responsible party's insurer.

daveyjp

If you want to keep it and it can be fixed for less than you are being offered, get the other insurance company to agree to pay the lower value bill for the work.

welliesrgreat

I have already sent three examples of vehicles one year older than ours - they have rejected them as evidence. When I asked if the offer was to keep the vehicle the lady said it’s up to us. 

We are self employed. We were without a replacement vehicle for 6 days which prevented us from working. We have been asked send to send in proof of earnings for the past 3 years and then they would work out an hourly rate! We only started the business in February and so we’re told to send in our earnings to date … we haven’t paid ourselves yet so that’s useless! Will send gross profit figures 🤣. 

There are no comparable vehicles for sale of this year and condition to replace the vehicle with. 

Protector have asked us to come back to them with a figure. We are only asking to be put back in the position we were in before our truck was written off and we were prevented from working. We have lost income and time through no fault of our own. 

AdrianC

welliesrgreat said:

We are self employed. We were without a replacement vehicle for 6 days which prevented us from working.

Why not hire a vehicle? Would that have been cheaper than the value of the lost work?

Indeed, why not continue to use this one? As you said in your first post...

...it is still drivable.

We have been asked send to send in proof of earnings for the past 3 years and then they would work out an hourly rate! We only started the business in February and so we’re told to send in our earnings to date … we haven’t paid ourselves yet so that’s useless!

So you haven't actually lost any earnings...

Protector have asked us to come back to them with a figure. We are only asking to be put back in the position we were in before our truck was written off

You had a low-value wagon.
You still have the same wagon, and it's still usable. It's just a bit battered.

All that's being argued over here is the value of the payout.
They say £2.8k. What are you saying?

welliesrgreat

We were told that we would be provided with a hire vehicle on the day we reported the accident. The delay was with the insurance company organising a suitable vehicle - there was a shortage - not our fault. So we waited. 

We have lost money that we were contracted to pay our sub contractors. We were unable to supply materials which we were due to collect using the vehicle. It delayed the build and our interim payment from our client. 

We are a startup company in year 1. All our sales income is reinvested back into the company.  

A battered vehicle is damaging to our reputation. It’s extremely ‘battered’ and doesn’t create the best impression. Through no fault of our own it has been damaged. It was also recently sign written. 

We have seen vehicles 1 year older - which is what we would be faced with purchasing - for 4K -5k. There are no 2005 vehicles for sale.
 

AdrianC

welliesrgreat said:

A battered vehicle is damaging to our reputation. It’s extremely ‘battered’ and doesn’t create the best impression.

Worse than cancelling the work?

You don't have to use a hire vehicle provided by the insurer, of course, you can hire your own and then claim the cost.

Through no fault of our own it has been damaged.

And that's what the insurance payout is for.

The vehicle is low enough value that they won't repair, but will pay out the pre-damage value.

It was also recently sign written.

If they were repairing, then they would cover the reinstating of the signwriting. They aren't. It doesn't affect the value. It does affect whether you repair outside insurance or replace, of course.

We have seen vehicles 1 year older - which is what we would be faced with purchasing - for 4K -5k. There are no 2005 vehicles for sale.

At 15-16yo, one year is less important to value than condition.

So we're talking about a ~£1k gap.

sheramber

But have these vehicles sold for 4k-5k? 

welliesrgreat

How would I know if they had sold for 4-5k? 

ontheroad1970

sheramber said:

But have these vehicles sold for 4k-5k? 

To be fair to the OP, the insurer asked the OP to find prices of 3 vehicles for sale.  He has done that and they don't like the answer.  

welliesrgreat

Thank you! I’m now not sure how to proceed with the claim.