Is this the value I will get for my settlement and what does this mean?
We have assessed your vehicle and placed a pre accidental value of £2156.50 on this.
Please see the breakdown below to detail the deductions from this valuation:
Pre accidental Value: 2156.50
Direct Debits: 1,131.81
Final settlement amount : £1024.69
Once you have agreed a settlement, we can pay this into your bank account, this will take 3-5 working days. Once we have made the payment you will have 30 days left of your policy until it is automatically cancelled. In order to avoid this you can complete a change of vehicle within the 30 day time period"
I'll get this final value which is if I agree to a settlement (that value) and does this mean
To cancel I will have to purchase a vehicle? So I'll get the final value however I'll still continue to pay monthly DD unless I'll get another vehicle?
Did you know there's an MSE app?
It's free & available on iOS & AndroidMSE App
Regifting: good idea or not?
Add your two cents to the discussionMSE Forum
Energy Price Guarantee calculator
How much you'll likely pay from AprilMSE Tools
No. To CONTINUE your policy, you need to buy another vehicle. Then you would get the pre accident value and continue to pay for the policy.
If you don't, then you get the final settlement amount.
They haven't listed any excess, which would be expected unless you have received a sum already from them that deducted the excess. (If your excess is £200 then it should be shown on the email).
I think by "Direct Debits" they mean all the Direct Debits that you are still due to pay for your policy. I would assume that they would not take any further direct debits if you accept the settlement offer, but I think you have to consider when the next DD is due to see if there is time for them to cancel the next DD if you accept the offer on Monday (after you have spoken to them to get an explanation). Once you accept the settlement offer, they will pay you the figure at the end of the settlment offer which effectively means you have then paid ALL the DDs you need to to buy the policy. (The DDs are the amount you owe them for the policy, and they are deducting this off what they owe you for the vehicle.)
Are you aware that you have to pay for the policy in full and that it is normal that the policy is cancelled when the vehicle is written off?
It's not clear whether if you complete a change of vehicle within 30 days whether you have to pay anything for this. If the only payment due is just their admin fee for changing the vehicle but no further payments are due for the rest of orinal policy term, then this looks to be good value. (You get the value of the written-off vehicle, plus part of a year's insurance on a new vehicle.) I would check this with them on Monday, but if you are going to have to buy a new car (e.g. because you need it to get to work), then this looks to be a good deal.
Can I pay the DD monthly and get the valuation at the same time
Or will they give me the valuation offer to allow me to purchase a car and continue with the policy
You will get the final settlement amount; if you buy a car within a reasonable timeframe your insurers should let you transfer the remainder of the policy onto the new vehicle with you just paying any adjustments in the premium
I've given the right acc and sc num and my bank details are clearly on the website to pay DD.
I do think it will come in however she cut the phone off when I wanted her to confirm if she got the right details
Am I just enduring bad luck
48 hour processing period plus five working days
Last week I phoned which they said I did not accept on a text message after the call, although I agreed to the final settlement amount on the phone, they should've said I'd get a text message after, I never got a text message.
The gentleman on the phone accepted and I said I agree, accept the offer and that is it and he said and I got an email later my payment will be two three working days and before payment I'll get a text message. He said on the phone nothing else to do and it should be three working days.
Now I phoned again third time today, which the lady on the phone stated it has gone through, however then she said no one has authorised to go through and they'll forward this to be the case handling team and my value has gone down to £14.