Post accident salvage valuation offer

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I’ve been given what Copart the salvage company claim is their third and final offer after a supposed revaluation.

Anyone have any experience or advice in this. Is final, final? What happens if I reject their final offer or am I backed into a corner and have to accept it and suck it up or is it worth trying to push for more?

DullGreyGuy

Are you claiming from your insurance or a third party's?

If its your own you'd register a complaint with your insurers, if you havent already, and escalate to the ombudsman if you are still unhappy. You'd typically be paid the current offer as interim payment and the ombudsman would decide if it needs topping up or not.

If you are claiming from a third party insurer you have no ombudsman rights and so you'd need to commission your own independent engineer report and then head to court.

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DullGreyGuy said:

Are you claiming from your insurance or a third party's?

If its your own you'd register a complaint with your insurers, if you havent already, and escalate to the ombudsman if you are still unhappy. You'd typically be paid the current offer as interim payment and the ombudsman would decide if it needs topping up or not.

If you are claiming from a third party insurer you have no ombudsman rights and so you'd need to commission your own independent engineer report and then head to court.

Thanks.
Mine, as a result of a no fault accident. They are low balling me as I’ve shown them examples valued higher. To the, it’s clearly a business so the less they can offer, the more their profit margin when they go to sell it on.

But I’ll take your advice and register the complaint with my insurer.

DullGreyGuy

Deleted_Userlj said:

DullGreyGuy said:

Are you claiming from your insurance or a third party's?

If its your own you'd register a complaint with your insurers, if you havent already, and escalate to the ombudsman if you are still unhappy. You'd typically be paid the current offer as interim payment and the ombudsman would decide if it needs topping up or not.

If you are claiming from a third party insurer you have no ombudsman rights and so you'd need to commission your own independent engineer report and then head to court.

Thanks.
Mine, as a result of a no fault accident. They are low balling me as I’ve shown them examples valued higher. To the, it’s clearly a business so the less they can offer, the more their profit margin when they go to sell it on.

But I’ll take your advice and register the complaint with my insurer.

There will be 2 values, the value of the vehicle and the value of the salvage. These may be independent or it may be that one is calculated from the other. Copart  are really only interested in the value of salvage as that drives their potential profit, if the two values are independent they wouldnt care if you get 3x the cars value because that comes from your insurer's pocket not theirs. 

Whilst your insurer has delegated the activity to an external supplier they are ultimately responsible hence your complaint goes to them. May also be worth reading the guidance from the Ombudsman to businesses on what they expect them to do:

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

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DullGreyGuy said:

Deleted_Userlj said:

DullGreyGuy said:

Are you claiming from your insurance or a third party's?

If its your own you'd register a complaint with your insurers, if you havent already, and escalate to the ombudsman if you are still unhappy. You'd typically be paid the current offer as interim payment and the ombudsman would decide if it needs topping up or not.

If you are claiming from a third party insurer you have no ombudsman rights and so you'd need to commission your own independent engineer report and then head to court.

Thanks.
Mine, as a result of a no fault accident. They are low balling me as I’ve shown them examples valued higher. To the, it’s clearly a business so the less they can offer, the more their profit margin when they go to sell it on.

But I’ll take your advice and register the complaint with my insurer.

There will be 2 values, the value of the vehicle and the value of the salvage. These may be independent or it may be that one is calculated from the other. Copart  are really only interested in the value of salvage as that drives their potential profit, if the two values are independent they wouldnt care if you get 3x the cars value because that comes from your insurer's pocket not theirs. 

Whilst your insurer has delegated the activity to an external supplier they are ultimately responsible hence your complaint goes to them. May also be worth reading the guidance from the Ombudsman to businesses on what they expect them to do:

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

Thanks for the link, very interesting article. So I should firstly bring it up with my insurer to see what they suggest before considering accepting the offer, Copart are bordering on harassment ringing 3x times a day for the last couple of days for me to accept the offer. I have no opportunity to answer personal calls during work fortunately.