£35k Car Stolen, what happened to me thereafter
Discussion
have to say when I wrote off one of our taxis at the start of the year our insurance company whilst slow where actually very reasonable with valuations.
13 month old Peugeot partner with 88k on the clock I basically lost £3000 from the initial purchase price certainly cant complain dealt with the assessor directly and 5 minutes on the phone with him it was sorted did try and low ball me at first but a quick chat and pointing out that whilst I would indeed agree that the car was worth less than what I was looking for I couldn't find a 90k mile car at a year old for sale anywhere.
bit of umming and aahing I had an offer for the retail price for a 40k car found on autotrader
13 month old Peugeot partner with 88k on the clock I basically lost £3000 from the initial purchase price certainly cant complain dealt with the assessor directly and 5 minutes on the phone with him it was sorted did try and low ball me at first but a quick chat and pointing out that whilst I would indeed agree that the car was worth less than what I was looking for I couldn't find a 90k mile car at a year old for sale anywhere.
bit of umming and aahing I had an offer for the retail price for a 40k car found on autotrader
DanB7290 said:
I'm a car salesman, and our company offers VRI (Vehicle Replacement Insurance) which covers the difference between the insurance payout OR the average of CAP/Glass's, whichever is higher, and the invoice price of the car, as opposed to GAP, which as mentioned, only covers the difference of payout/market value and the outstanding finance. A much better product which we highly advise all our customers to take, especially on a higher value car.
I didn't used to be a fan of GAP as it's pretty unlikely your car will be written off - and it gets more unlikely the dearer the car is. However theft of more expensive seems to be getting more common and if you've got one of the cars/SUVs likely to be stolen then GAP is certainly good peace of mind.Never buy it from a car dealership unless they massively discount it - it'll be 2-3 times dearer than buying the same thing online.
Edited by Sheepshanks on Saturday 18th October 20:36
Mr Trophy said:
missing the VR6 said:
That's why I'm a massive fan of GAP insurance.
There is a well known "fancy" garage here in Edinburgh.Someone's Bentley got stolen and was offered - £45K under what he paid for it (car was literally months old). To cut a long story short, his insurance company asked why he never got GAP insurance for such a high value car £120K + "they never offered me GAP insurance, so I assumed I couldn't get it due to the value of the car"
Guess what happened next, garage couldn't prove that they had/hadn't offered GAP insurance and had to pay the £45k difference. Ouch.
I sincerely doubt this story is true.
Sheepshanks said:
Butter Face said:
Any garage who sells GAP will be FCA (previously FSA) regulated and will have had a signature to say the customer was offered GAP and refused. It has been this way for years.
I sincerely doubt this story is true.
What happens if the customer refuses to sign? I sincerely doubt this story is true.
dacouch said:
Must have been with an Admiral group company as virtually every other Insurer would offer new for old on a brand new car in the first year of ownership from new
Careful with your accusations, Admiral insurance and its sister companies do not and have never been available through a broker nor do they utilise telephone lie detectors.The OP states that both of these were used by his insurer.
During a theft claim you'll be interviewed (initially on the phone) by investigators employed by the insurance company to assess whether you're likely to be pulling a fast one or not - this will be the lie detector test bit and really its perfectly reasonable behaviour even if it is a bit unpleasant.
These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
Poopipe said:
During a theft claim you'll be interviewed (initially on the phone) by investigators employed by the insurance company to assess whether you're likely to be pulling a fast one or not - this will be the lie detector test bit and really its perfectly reasonable behaviour even if it is a bit unpleasant.
These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
Well, considering I'm one of only 4 people within the Admiral group whose position is to investigate high value claims relating to fire & theft claims (along with more dubious claims) I'm fairly sure I know what investigation techniques I use.These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
Lie detectors is not currently one, they were trialled many years ago.
ZOLLAR said:
Careful with your accusations, Admiral insurance and its sister companies do not and have never been available through a broker nor do they utilise telephone lie detectors.
The OP states that both of these were used by his insurer.
Careful with your accusations, I was replying to a post about a slightly subject different topic.The OP states that both of these were used by his insurer.
Try reading it again
ZOLLAR said:
Poopipe said:
During a theft claim you'll be interviewed (initially on the phone) by investigators employed by the insurance company to assess whether you're likely to be pulling a fast one or not - this will be the lie detector test bit and really its perfectly reasonable behaviour even if it is a bit unpleasant.
These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
Well, considering I'm one of only 4 people within the Admiral group whose position is to investigate high value claims relating to fire & theft claims (along with more dubious claims) I'm fairly sure I know what investigation techniques I use.These investigators have a significant influence on how long a claim takes to resolve since the insurance company wont act until they're done investigating
I expect admiral do use them..
Lie detectors is not currently one, they were trialled many years ago.
Incidently the poster you're replying to is almost certainly referring to a cognitive interview which I'm pretty sure Admiral would use
dacouch said:
Careful with your accusations, I was replying to a post about a slightly subject different topic.
Try reading it again
Apologies I followed on from SheepShank quoting you, however looking at the post you quoted there's no evidence to suggest it was Admiral Try reading it again
So it was unfounded.
ZOLLAR said:
Apologies I followed on from SheepShank quoting you, however looking at the post you quoted there's no evidence to suggest it was Admiral
So it was unfounded.
Bearing in mind the story is about a brand new car written off in the first year of ownership and the owner did not receive new for old then there's a very high chance it was an Admiral group policy as you're about the only Insurer who do not offer new for old. So it was unfounded.
I've not noticed it recently but you were quoting incredibly cheap prices for exotic cars a few years back so this would also tie in with the story.
dacouch said:
Hopefully you read your claims files more thoroughly than you've read this thread.
Incidently the poster you're replying to is almost certainly referring to a cognitive interview which I'm pretty sure Admiral would use
I'm merely pointing out that lie detectors aren't used as they would need to be discloses before use however I'm not divulging what questioning techniques we use.Incidently the poster you're replying to is almost certainly referring to a cognitive interview which I'm pretty sure Admiral would use
I do pay attention to my files thank you!
I skim read pistonheads as it's not quite as important
Tin Hat said:
In the interim, I gained some trade in quotes from Webuyanycar, these were surprisingly quite 'generous' and actually increased by £400.000 over the next 4 weeks, finally indicating a trade in value of £31,850.00. I found similar cars online, the value of which varied between £35 and £36k and I recorded this info for reference.
So, after 13 weeks, we were offered £32,250.00, less our excess of £500.00. I felt that this was unreasonable, but the insurers backed it up with a Glass' guide , despite me pointing out that this specific sum was a 'trade in value' as opposed to a 'retail price'. The insurer sent me £31,750.00 as an interim payment, possibly hoping that this would be the end of the matter.
I had it explained to me previously that you're supposed to be put back in the position you were before. You had an asset you could sell for £31.8k, and you were offered about the same.So, after 13 weeks, we were offered £32,250.00, less our excess of £500.00. I felt that this was unreasonable, but the insurers backed it up with a Glass' guide , despite me pointing out that this specific sum was a 'trade in value' as opposed to a 'retail price'. The insurer sent me £31,750.00 as an interim payment, possibly hoping that this would be the end of the matter.
It's supopsed to replace the value of the asset, not let you buy another at retail price. It's a common misconception I think.
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