Car insurance advice.

Here you can post stuff that is not related to Christopher Ward
User avatar
Thermexman
Trusted Seller
Trusted Seller
Posts: 6225
Joined: Thu Oct 27, 2016 6:40 am
CW-watches: 4
Location: South West UK

Car insurance advice.

Post by Thermexman »

Just wondered if anyone has any advice they can share about my Son’s current dilemma?

Just over 12 days ago, my son was rammed from behind, by another car, which shunted him into the car in front. He has dash cam footage proving he wasn’t at fault.

All is going well so far. He contacted his insurance company, via an app and uploaded his claim and video footage.

The next day, he was contacted by the other driver’s insurance company who offered to deal with it all for him, as their driver had admitted liability.

As he had already informed his insurer, he opted to stick with them. When his insurer eventually phoned him, they offered to pass him over to a company that would deal with the whole process for him and would give him a hire car and he wouldn’t have to pay his excess up front and claim it back!

A hire car was delivered and his car was taken away. So far so good.

Today, he was told that his car has been written off and they have placed a value on it that they feel they can justify to the other insurer. Unfortunately, this figure is approximately £1500 to £2000 short of him being able to buy an identical car to replace his.

My question is this: do we have any chance of getting this figure increased?

As this company is working on my son’s behalf, surely they should be trying to achieve the best compensation? As he wasn’t at fault, why should he lose out? It looks to me like this company is just trying to get this signed off so they can move on?

Any thoughts would be appreciated. Thanks.
Steve.
jtc
Senior Forumgod
Senior Forumgod
Posts: 4109
Joined: Fri Oct 05, 2012 9:50 pm
CW-watches: 2
Location: Hampshire, UK

Re: Car insurance advice.

Post by jtc »

Never accept the first offer, it's always a low ball. Go back and suggest that's too low and ask them to reconsider. You might not get the full amount (as it'll be based on market value vs insured value) but it'll get a little closer.
These users thanked the author jtc for the post (total 2):
Bahnstormer_vRSThermexman
Jon

Trusted Seller Feedback

CW | Tudor | Tag Heuer | Omega | Longines | Bremont | Rolex
User avatar
Bahnstormer_vRS
Moderator
Moderator
Posts: 35163
Joined: Thu Sep 06, 2012 3:06 pm
CW-watches: 34
LE-three: 1
LE-foura: 1
LE-fourb: 1
LE-six: 1
Location: Hertfordshire, UK

Re: Car insurance advice.

Post by Bahnstormer_vRS »

I'm really sorry to hear of your son's predicament Steve.

Much as you are talking about the loss and settlement for his car, is he okay? By that I mean, was he injured? A rear end shunt is a classic cause of whiplash to the neck and back. I'm hoping he's fine as you've not mentioned it.

As to the financial settlement for the 'write off' of your son's car, bottom line; haggle.

Its all a bit of a game, but all insurers are generally aiming to payout as little as they can in settlements. Get as much evidence as possible as to the cost of a like for like replacement; the internet is your friend.

You mention "value on it that they feel they can justify to the other insurer.". I'm sure, and it will not doubt be expedient to settle swiftly, close the file and move on. The alternative is, if initial negotiations fail, to go into protracted claims settlement procedure which can take months. They are perhaps banking on your son needing funds to buy a replacement car.

Good luck.

Guy

PS> When I was working, one of my secondary roles in the Company I was with, was as our Fleet Manager for 20 - 25 cars with young(ish) accident prone drivers in Central/NW London. I had all too much practice and experience in dealing with Insurance and Claims Management Companies. :( :(
These users thanked the author Bahnstormer_vRS for the post:
Thermexman
In small proportions, we just beautie see:
And in short measures, life may perfect bee. - Ben Jonson (1572 – 1637)

Inscription on the Longitude Dial
Hatfield House, Hatfield, Hertfordshire AL9 5NB, England
User avatar
NationOfLaws
Senior Forumgod
Senior Forumgod
Posts: 1008
Joined: Fri May 13, 2022 2:06 am
CW-watches: 5
Location: Kansas City, MO

Re: Car insurance advice.

Post by NationOfLaws »

Definitely go back and tell them that isn’t the appropriate amount. We’ve hired an attorney for hail damage on our roof after the insurance offered to pay about 25% of what was required.

The magnitude of our roof and his car are probably much different (PM if you want the whole story) but the principle is the same.
These users thanked the author NationOfLaws for the post:
Thermexman
User avatar
jkbarnes
Senior Forumgod
Senior Forumgod
Posts: 7852
Joined: Wed May 24, 2017 8:39 pm
CW-watches: 3
Location: Virginia, USA

Re: Car insurance advice.

Post by jkbarnes »

I can’t speak for insurance in the UK, but I do know that in the US it’s not uncommon at all for the insurance value of a totaled vehicle to be less than the replacement value (or pay-off amount if there’s an outstanding loan balance) of a vehicle. I know some insurance policies can include a replacement value clause, but it costs extra.

For example, I’m pretty sure I’d be screwed by insurance if my MX5 got totaled, as the actual value is probably far greater than the blue book value, and I don’t know that’s there’s much I could do about it.
These users thanked the author jkbarnes for the post:
Thermexman
Drew
User avatar
monkeymax
Senior Guru
Senior Guru
Posts: 584
Joined: Sat May 01, 2010 10:30 pm
CW-watches: 3
Location: South England

Re: Car insurance advice.

Post by monkeymax »

Edit: A few people have posted while I was writing this. The gist is the same, but I will post anyway as I have been in the same position.
Thermexman wrote: Tue Jul 26, 2022 11:10 pmMy question is this: do we have any chance of getting this figure increased?
Short answer? Yes.
They always low-ball you as someone somewhere will be getting the money you don't.

TBH the circumstances of the incident are irrelevant. I wrote off my car a few years back (I was hit, but no dash cam, no plate, no evidence; long story) and so had to claim on my insurance. Now - fair enough - it was my own insurance company paying out so they initially offered me a value we can say was about 80% of what I felt was the cars value. I asked for an email address to send something to the person who had valued the car. Sent them adverts for 3 examples like mine +/- 10k miles and similar in age. Recent adverts, on proper sites, not auctions or club based postings (I vaguely recall that I mentioned on the phone that the cars tended to go for a little more through owners clubs where mine had come from and offered to send an example). I ended up getting a call from the lady who valued the car, to discuss it properly which was nice. Ultimately I got much nearer to what I wanted. (Although sadly I'd just recently spent £4k on sorting the car out, which obviously I never got back!)

Be prepared to negotiate/make a few calls. You don't have much to lose - sadly someones NCD is getting a hit regardless of how much is paid out and your son will equally have to declare this non-fault incident for future policies regardless of the payout. So try to push for a fair (and that's important - don't take the p***) amount.

Good luck!
These users thanked the author monkeymax for the post:
Thermexman
User avatar
ajax87
Senior Forumgod
Senior Forumgod
Posts: 3454
Joined: Sat Aug 01, 2009 2:47 am
CW-watches: 7
Location: West Michigan, USA

Re: Car insurance advice.

Post by ajax87 »

Thermexman wrote: Tue Jul 26, 2022 11:10 pm
…they have placed a value on it that they feel they can justify to the other insurer.
This part is a real problem. Possibly constitutes bad faith on the insurers part.

They owe you for your loss per your contract. What they think they can get out of the other party to recoup what they paid you is THEIR problem.

At least that’s my take as an insurance adjuster in the US (I handle homeowners claims, not auto, but same principles).

Provide them with the documentation showing how you came to your figures. Pester them, they’re required to reply every time. Telling them in no uncertain terms what they owe you and mentioning bad faith might help if it comes down to it.

Best of luck!
These users thanked the author ajax87 for the post:
Thermexman
Alex
C5A Mk1|C65 316L LE|C63 36mm, GMT, Elite, 2023ish FLE|C1 Moonglow|Omega Seamaster DeVille|Speedmaster Racing|MoonSwatch Mercury|RZE Endeavor|Tudor BB58 925
thomcat00
Senior Forumgod
Senior Forumgod
Posts: 1693
Joined: Mon Jan 11, 2021 9:14 am
CW-watches: 15
Location: FLX, NY, USA

Re: Car insurance advice.

Post by thomcat00 »

What they can “justify” to the other insurance company is not your problem. Your problem is replacing the vehicle. If you can show advertisements for comparison supporting your claim for a higher settlement, they should value your son’s car similarly.

I gather your son was not injured in the collision? Did he get medically cleared? Hope you have a better result with the insurance claim.
These users thanked the author thomcat00 for the post:
Thermexman
with Kung Fu grip, and life-like hair
Gar787
Senior Guru
Senior Guru
Posts: 564
Joined: Wed Sep 02, 2020 3:34 pm
CW-watches: 7

Re: Car insurance advice.

Post by Gar787 »

You have a good case to argue imho. With the delays and shortages of new cars (semi-conductor supply line problems) the 2nd hand car market has gone ballistic in the past eighteen months and prices on cars that used to be relatively cheap have gone through the roof so it is not a good time to be buying a 2nd hand car without a trade-in. Any chance of buying the write-off? Depending on the category there is a good market for flogging these on or repairing and reselling them but I guess that depends on your circumstances.
These users thanked the author Gar787 for the post:
Thermexman
PHIL
User avatar
Thermexman
Trusted Seller
Trusted Seller
Posts: 6225
Joined: Thu Oct 27, 2016 6:40 am
CW-watches: 4
Location: South West UK

Re: Car insurance advice.

Post by Thermexman »

Hi all, thanks for your replies so far.

Firstly, and most importantly, yes, my son is fine. No injuries. Thanks to all who asked. :thumbup:

Secondly, it’s good to hear that it’s worth trying to raise the offer. We’re not out to make a profit, just get a fair price towards a direct replacement.

When this last happened to me back in ‘92, the first I knew about any offer of payment was when I opened the letter with the cheque in it. A subsequent phone call left me under no illusion that this was the only offer!

As for the price of the second hand car market? It’s scary to think that a direct replacement for his 2016 Skoda Octavia, will cost the same as he paid for it, three years & 20k miles ago!
These users thanked the author Thermexman for the post:
Bahnstormer_vRS
Steve.
User avatar
Paul Drawmer
Trusted Seller
Trusted Seller
Posts: 2347
Joined: Fri Jan 04, 2013 9:42 am
CW-watches: 7
Location: Deddington, Oxfordshire

Re: Car insurance advice.

Post by Paul Drawmer »

The write off value is the amount to place you in the same position as you were before the accident.

You must reject the offer and tell them how much you need. Support this with evidence of current sale prices of similar vehicles ( the nearer to age/spec/mileage the better) Most ins co. will start off with an offer at trade price. You will need retail value to go and buy a replacement. It may be that the value of the car has gone up during your son't ownership as there is a shortage of certain used cars. That's not your problem, it up to the insurance company to pay up the amount required to buy a similar vehicle.

As an aside, and for reasons I won't go into; my son had two(!) cars written off in the last year. In each case the amounts offered by NFU Mutual were extremely fair, without any haggling.
These users thanked the author Paul Drawmer for the post:
Thermexman
There's always time for one more.
User avatar
Thermexman
Trusted Seller
Trusted Seller
Posts: 6225
Joined: Thu Oct 27, 2016 6:40 am
CW-watches: 4
Location: South West UK

Re: Car insurance advice.

Post by Thermexman »

Unbelievable!
The claims company have just told my son that there’s no movement on the valuation as “it’s Glass’s Guide” price! She then conceded that they might be able to check a different guide and take the average but that could come out lower?

He pointed out that he’s found several older cars for more than they value his at but they don’t seem to get the part where you’re meant to be recompensed for your loss, when it’s not your fault!
Thought they were meant to work for him?
Steve.
User avatar
monkeymax
Senior Guru
Senior Guru
Posts: 584
Joined: Sat May 01, 2010 10:30 pm
CW-watches: 3
Location: South England

Re: Car insurance advice.

Post by monkeymax »

Might be worth seeing what Parkers list it at (another trade price guide, but Glass's is generally the one used for valuation)
https://www.parkers.co.uk/car-valuation/
That may be the other guide they would check.
I can see why they've gone that approach - it's easy and quick. The downside? The pricing they suggest is out of date pretty quickly too.
These users thanked the author monkeymax for the post:
Thermexman
exHowfener
Senior Forumgod
Senior Forumgod
Posts: 1018
Joined: Thu May 28, 2020 6:26 pm
CW-watches: 1

Re: Car insurance advice.

Post by exHowfener »

This is all depressingly familiar.

Firstly, don't be under the delusion that the claims company is working on you son's behalf. They are working for themselves - sourcing hire cars etc. that they get a benefit from.

Secondly, yes - reject their offer. Quite simply, ask them to find an actual car similar to the one written off at the price they are offering. If they cannot (and they won't be able to) well ...
I started out with nothing and I still have most of it left
what-time-is-it
Trusted Seller
Trusted Seller
Posts: 3854
Joined: Thu Nov 24, 2016 11:53 am
CW-watches: 1

Re: Car insurance advice.

Post by what-time-is-it »

I know someone who was offered a low valuation on a Golf from esure - he went to the following company and the offer suddenly improved.
https://www.motorclaimguru.co.uk
https://www.motorclaimguru.co.uk/disput ... with-value

Obviously all claims and circumstances are different, but worth a look.
Current collection incl Citizen, G-Shock, Rolex, Seiko, Sinn & Tag.

Chris
  • Similar Topics
    Replies
    Views
    Last post