Insurance have undervalued my car following write off - how do I proceed?
jadecz
Posts: 4 Newbie
I was involved in a no fault-claim where the third party hit the back of my car whilst I was stationary in traffic. My insurer, Admiral, stated I can claim through them or through Auxillis given it is a no fault claim. They made the decision to go with Auxillis more attractive as I would not have to pay my excess, my no-claims would not be affected and I could get a hire vehicle faster than a courtesy car.
Auxillis have used an independent engineer, Acorn Assessors, who have deemed my car a write off. I drive a Toyota Yaris Hybrid Icon with a 15 plate. It's in good condition with no previous body work, fully up to date with servicing and only 24000 miles on the clock. They have offered me £4600 for the car, but a quick search online shows that the market value (on Autotrader) is around £10000 for similar model and mileage.
I am really concerned that there is such a disparity in price between the valuation and the market value of the car. After doing some digging online and here, I have also used Parker's free valuation which comes to:
Franchised Dealer: £9,445
Independent Dealer:£8,830
Private Good: £8,125
Private Poor: £7,145
Part Exchange:£7,685
Original Price: £16,195
This is without adjusting for mileage and based on a mileage of 40000 miles.
Acorn Assessors say there is no move on their valuation and that they use Glass's guide to value the car. They also refused to provide an engineers report stating that this is only done once I have agreed a valuation. They also did not provide a classification for write off, just purely saying its N for non-structural damage.
I have also contacted Admiral and they tell me that their valuations will be similar to Auxillis and have suggested I keep the vehicle and try and get the £4600 back minus salvage fees. Then use this money toward repairing the car myself.
I really don't know what to do. I feel this valuation is very unfair and that I would be unable to get back onto the road with the money offered. Furthermore, having read about Auxillis online - they don't have the best reputation and I am also concerned that I may be liable to pay for the hire car that they have provided. I can still go back to Admiral but I'm not sure if they would be any better! Any help much appreciated!!
Auxillis have used an independent engineer, Acorn Assessors, who have deemed my car a write off. I drive a Toyota Yaris Hybrid Icon with a 15 plate. It's in good condition with no previous body work, fully up to date with servicing and only 24000 miles on the clock. They have offered me £4600 for the car, but a quick search online shows that the market value (on Autotrader) is around £10000 for similar model and mileage.
I am really concerned that there is such a disparity in price between the valuation and the market value of the car. After doing some digging online and here, I have also used Parker's free valuation which comes to:
Franchised Dealer: £9,445
Independent Dealer:£8,830
Private Good: £8,125
Private Poor: £7,145
Part Exchange:£7,685
Original Price: £16,195
This is without adjusting for mileage and based on a mileage of 40000 miles.
Acorn Assessors say there is no move on their valuation and that they use Glass's guide to value the car. They also refused to provide an engineers report stating that this is only done once I have agreed a valuation. They also did not provide a classification for write off, just purely saying its N for non-structural damage.
I have also contacted Admiral and they tell me that their valuations will be similar to Auxillis and have suggested I keep the vehicle and try and get the £4600 back minus salvage fees. Then use this money toward repairing the car myself.
I really don't know what to do. I feel this valuation is very unfair and that I would be unable to get back onto the road with the money offered. Furthermore, having read about Auxillis online - they don't have the best reputation and I am also concerned that I may be liable to pay for the hire car that they have provided. I can still go back to Admiral but I'm not sure if they would be any better! Any help much appreciated!!
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Comments
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Check for yourself what the Glass's guide valuation for the car is: if it's higher, dispute the valuation with Auxillis.0
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Flower77g, Glass's guide is not available to the public so I am unable to check.0
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Your insurer would have had to pay you the pre incident market value had you claimed on your policy. Although you would have had to pay your excess, you could have got this reimbursed by the third party insurer along with any other uninsured losses (eg a hire car)
But going with auxillis means you allowed them to handle the claim!0 -
Get 4-5 adverts of similar vehicles from Autotrader, send them into your insurer and ask that they reconsider.
If not, you will probably need to complain and point out the FOS's guidance in this aspect.0 -
FlameCloud wrote: »Get 4-5 adverts of similar vehicles from Autotrader, send them into your insurer and ask that they reconsider.
If not, you will probably need to complain and point out the FOS's guidance in this aspect.
The OP didn't use his insurer!
He used an AMC!
Thus no point asking his Insurer to reconsider and no point referring to the FOS guidance0 -
Does going with an accident management company mean that they are not regulated by the FOS?
I can still go back to my insurer, is that a better solution than staying with auxillis?
I don’t really know the main difference between them.0 -
N is the category of the total loss.
You could go back to Admiral, just make sure you'll not be liable for any costs with Auxillis first.You'll find me sat in the corner with a pack of dry roasted and a Guinness.0 -
Basically yes, the FOS will only deal with a complaint about your own insurer - not somebody else's insurer. It's a mechanism for customers to complain -and you're not a customer of the third party insurer.Does going with an accident management company mean that they are not regulated by the FOS?
Auxillis are a company who essentially deal with the third party's insurer on your behalf. It will be the TPI who have made the offer - not Auxillis themselves. Ultimately if you can't agree a valuation with the TPI your only way of forcing the issue is to take them to court, which involves the risk of costs.I can still go back to my insurer, is that a better solution than staying with auxillis?
I don’t really know the main difference between them.
Yes if you make the claim directly through your own insurer that will give you the option of complaining to the FOS if you're not happy with the valuation. However if Auxillis have sent out an assessor they've presumably incurred costs which you may have to pay back if you cancel the claim through them now - so weigh up your options carefully.0 -
As far as I am aware Auxillis have sought an independent engineer to value my vehicle and the offer has not come from the third party insurer - does that mean they are still not liable to the FOS?
So far Auxillis has said that they will recoup everything from the third party insurer.0 -
As advised, if you want to be able to get this escalated to the FOS then the only way is for you to cancel your agreement with the A M company (bear in mind that you would have to pay them for all costs they have incurred up to you cancelling) and make your claim against your insurer0
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