£35k Car Stolen, what happened to me thereafter
Discussion
Mrs Hats Evoque was stolen at the beginning of July, this was the first time in 25 years that I needed to pursue an insurance claim for theft. I turned to PH for an indication of what might be likely to happen thereafter, and maybe I was trying the wrong searches, but I struggled to find much info in the PH forums.
Basically, it appears as though someone had managed to tap into the vehicle's OBD port while car was locked and secure in the street outside my house and the car was gone when we woke up. So what happened after that?
Well, the Police were mostly helpful, if a little too keen to wash their hands of the problem as quickly as possible. Dealing with the matter quickly was not a problem that we had with the insurer, despite me having renewed my multi vehicle policy with them for 3 consecutive years. Their management of the claim thereafter was slightly scary, my wife was subjected to what I have been led to believe was a telephone 'lie detector test', followed by us being asked to authorise them to liaise directly with the Police-This 'requirement' delayed the claims process by at least 7 weeks, our insurers refusing to discuss the claim at all during this period.
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 chased it up 3 weeks later and was told that this offer was the best that they could manage.
My Broker was useless throughout this sorry state of affairs and so I decided that I would take up the matter directly with the Insurance Ombudsman. I called this service on Wednesday, they recorded my complaint. By 15.30 on Friday, my insurance company had magically transferred the matter to their customer services who noted that the value was too low and they offered £35,100.00 which I have now accepted.
I realise that my £3.7k premium makes this pretty tough on the insurers balance sheet, but that is the way that this industry works?!
In conclusion, I would encourage anyone who like us has a relatively high value car in a relatively low rent area to invest in some effective additional vehicle security- the whole situation has been nothing but aggro! If you become a victim of theft, calculate the cost of the car and stick by your guns or use the Ombudsman to ensure that the insurer plays fair.
TH
Basically, it appears as though someone had managed to tap into the vehicle's OBD port while car was locked and secure in the street outside my house and the car was gone when we woke up. So what happened after that?
Well, the Police were mostly helpful, if a little too keen to wash their hands of the problem as quickly as possible. Dealing with the matter quickly was not a problem that we had with the insurer, despite me having renewed my multi vehicle policy with them for 3 consecutive years. Their management of the claim thereafter was slightly scary, my wife was subjected to what I have been led to believe was a telephone 'lie detector test', followed by us being asked to authorise them to liaise directly with the Police-This 'requirement' delayed the claims process by at least 7 weeks, our insurers refusing to discuss the claim at all during this period.
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 chased it up 3 weeks later and was told that this offer was the best that they could manage.
My Broker was useless throughout this sorry state of affairs and so I decided that I would take up the matter directly with the Insurance Ombudsman. I called this service on Wednesday, they recorded my complaint. By 15.30 on Friday, my insurance company had magically transferred the matter to their customer services who noted that the value was too low and they offered £35,100.00 which I have now accepted.
I realise that my £3.7k premium makes this pretty tough on the insurers balance sheet, but that is the way that this industry works?!
In conclusion, I would encourage anyone who like us has a relatively high value car in a relatively low rent area to invest in some effective additional vehicle security- the whole situation has been nothing but aggro! If you become a victim of theft, calculate the cost of the car and stick by your guns or use the Ombudsman to ensure that the insurer plays fair.
TH
THis is very interesting, thanks for posting.
It still amazes me that people with £30k+ vehicle still do not invest in a few hundred worth of visual deterrents for their vehicle.
When I had my (much less than £30k) scoob, I fitted a steering wheel lock and drive post every night. OK, may not stop a determined thief, but when there are so many of these cars about, I think they will always go for the "easy option" so any form of "hassle" for them will help them move elsewhere.
Glad you got it sorted.
It still amazes me that people with £30k+ vehicle still do not invest in a few hundred worth of visual deterrents for their vehicle.
When I had my (much less than £30k) scoob, I fitted a steering wheel lock and drive post every night. OK, may not stop a determined thief, but when there are so many of these cars about, I think they will always go for the "easy option" so any form of "hassle" for them will help them move elsewhere.
Glad you got it sorted.
Sorry to hear about your car, I would never have got my car if it had no garage to sit in.
Out of sight out of mind and I sleep better as well.
I have all kinds of Security items on the car still. However the garage is the best one by far.
I updated my insurance policy, this year twice due to values going up on my car so much.
Out of sight out of mind and I sleep better as well.
I have all kinds of Security items on the car still. However the garage is the best one by far.
I updated my insurance policy, this year twice due to values going up on my car so much.
Edited by SEE YA on Saturday 18th October 18:17
missing the VR6 said:
That's why I'm a massive fan of GAP insurance.
Until 3 minutes ago I had no idea of what GAP insurance is, but having now read three lines on Wikip does it not just cover the difference between market value and outstanding finance? The OP makes no mention of any finance/lease arrangements.ETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Edited by TheInternet on Saturday 18th October 18:06
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.
Mr Trophy said:
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.
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 newSomeone'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.
TheInternet said:
missing the VR6 said:
That's why I'm a massive fan of GAP insurance.
Until 3 minutes ago I had no idea of what GAP insurance is, but having now read three lines on Wikip does it not just cover the difference between market value and outstanding finance? The OP makes no mention of any finance/lease arrangements.ETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Edited by TheInternet on Saturday 18th October 18:06
So even if OP's OH's car was £40k new, insures gave him £31k prior to going to the ombudsmen, the GAP insurance would have just given him £9k straight away. What it saves you in both time and money is very good value in comparison to car insurance.
TheInternet said:
Until 3 minutes ago I had no idea of what GAP insurance is, but having now read three lines on Wikip does it not just cover the difference between market value and outstanding finance? The OP makes no mention of any finance/lease arrangements.
ETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Yes, you can get 'return to invoice' coverETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Edited by TheInternet on Saturday 18th October 18:06
Sorry to hear of your troubles, its typically of insurance company's though very keen to take your money but god forbid you should want any back!
Tin Hat said:
someone had managed to tap into the vehicle's OBD port while car was locked and secure
On the OBD port it seems strange but not impossible that they must have broken in to the car previously and returned to steal it. I thought they did it all in on go?hajaba123 said:
TheInternet said:
Until 3 minutes ago I had no idea of what GAP insurance is, but having now read three lines on Wikip does it not just cover the difference between market value and outstanding finance? The OP makes no mention of any finance/lease arrangements.
ETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Yes, you can get 'return to invoice' coverETA Is it also a way of extending your coverage to what amounts to 'new for old'?
Edited by TheInternet on Saturday 18th October 18:06
Never had a car stolen but have had dealings with insurance companies over a few cars written off after accidents. The golden rules seems to be to never accept their first or second offer & never accept an interim payment since this may be construed as accepting 'a full and final offer' by m'learned friends if it ever turned into a legal dispute.
In each instance I assembled the vehicle's documents, receipts and proof of service history, new tyres etc etc then scoured the car ads at franchised dealers to find an equivalent used car - year, model, mileage, spec and so on. I countered their quotes from trade guides like Glass's with proper actual retail prices that an ordinary reasonable person would pay at a franchised dealer. (Trade guides are exactly that: guides, not records of actual market values in your area. If you've ever bought at an auction you'll know that trade guides can sometimes be works of fiction.)
In each case I asked to deal with the insurance company's vehicle loss adjuster and eventually settled the claim with him, though many insurance companies may want to tie you up with call centre staff hoping to wear you down.
Quite simply, you have to negotiate. They are looking to mitigate their potential loss, so are you. If you can build a reasonable case with proper supporting evidence then they have to listen...but they will always low-ball you for starters...always!
Well done on getting a reasonable result.
In each instance I assembled the vehicle's documents, receipts and proof of service history, new tyres etc etc then scoured the car ads at franchised dealers to find an equivalent used car - year, model, mileage, spec and so on. I countered their quotes from trade guides like Glass's with proper actual retail prices that an ordinary reasonable person would pay at a franchised dealer. (Trade guides are exactly that: guides, not records of actual market values in your area. If you've ever bought at an auction you'll know that trade guides can sometimes be works of fiction.)
In each case I asked to deal with the insurance company's vehicle loss adjuster and eventually settled the claim with him, though many insurance companies may want to tie you up with call centre staff hoping to wear you down.
Quite simply, you have to negotiate. They are looking to mitigate their potential loss, so are you. If you can build a reasonable case with proper supporting evidence then they have to listen...but they will always low-ball you for starters...always!
Well done on getting a reasonable result.
Mr Trophy said:
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.
Never in a million years is this a true story.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.
ging84 said:
Mr Trophy said:
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.
Never in a million years is this a true story.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.
Any evidence Mr Trophy? I am sure it would have been documented at some point up here?
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