Insurance process ?
Discussion
its already been highlighted in Biker Banter but here are jordan's details, he seems be able to get things done.
http://www.pistonheads.com/gassing/profile.asp?h=0...
http://www.pistonheads.com/gassing/profile.asp?h=0...
d8mok said:
Cheque arrived for the bike today too. 2 weeks from start to finish in regards the bike. That's not bad I don't think.
LoonR1 said:
Fair value as well, I presume. Just shows that the horror stories and Urban Myths around insurers ripping you off on value are actually not the norm.
Approx 2 months after my accident, I got the first cheque from the third party for my written off bike. I suspect half the writing off was down to them leaving it in storage for several weeks before even bothering to go look at it.4 months after my accident, the third party have just sent me a small cheque somewhere in the right direction between their idea of fair value and mine, but still short. My AMC have asked me to get my solicitors to chase it further due to their "greater weight".
My claim for value has been put together by me with a list of receipts, photographs, comparative values, etc, all priced and claimed point by point following the Ombudsman's "how we value your vehicle" information, making full allowance for haggling, write-down value of accessories and so on.
Their reply appears to be "here's a cheque for less, think yourself lucky."
I believe I will eventually get to my "reasonable" value for my bike (although, if I intended to replace it like-for-like, still not enough to do so without time and a fair chunk of luck), but I am having to fight and wait (and wait) for it.
My story is not a "horror" (a matter of a few hundred quid) and certainly not a myth, but I didn't expect much and my expectations have been fully met. I'm glad the OP got a good settlement ASAP, but I'm very much afraid that's still the exception.
LoonR1 said:
The words "my AMC" may well be a significant reason for this. Unnecessary inflation and incurred costs means insurers are far more likely to check every element in a lot of detail.
Can't see there's been any unnecessary costs incurred (so far?!) that are not 100% down to the 3rd party dragging their feet. It took them several weeks to even go look at the bike. And not really my choice to use the AMC as such, BTW - sent there directly by my insurance. Anyway, last time I had to argue about a car's write-off value, I rang them and we reached a good agreement in about 3 minutes flat. This time, it's taken around 6 weeks from the first offer to not reach agreement - entirely down to the 3rd party responding with "we're waiting to hear from our engineer" each time...
defblade said:
Can't see there's been any unnecessary costs incurred (so far?!) that are not 100% down to the 3rd party dragging their feet. It took them several weeks to even go look at the bike. And not really my choice to use the AMC as such, BTW - sent there directly by my insurance.
Anyway, last time I had to argue about a car's write-off value, I rang them and we reached a good agreement in about 3 minutes flat. This time, it's taken around 6 weeks from the first offer to not reach agreement - entirely down to the 3rd party responding with "we're waiting to hear from our engineer" each time...
Which the TP insurer has every right to do and will quite often do when there is an AMC involved. Note the OP hasn't used an AMC. Anyway, last time I had to argue about a car's write-off value, I rang them and we reached a good agreement in about 3 minutes flat. This time, it's taken around 6 weeks from the first offer to not reach agreement - entirely down to the 3rd party responding with "we're waiting to hear from our engineer" each time...
Whats a AMC?
All i did was make a few polite phone calls to his insurance and it was sorted really easily. I worried it was going to be a nightmare but it was plain sailing all the way in terms of the write off. I was realistic in what the bike was worth by using glass's guide and im happy as i could of been in the circumstances.
All i did was make a few polite phone calls to his insurance and it was sorted really easily. I worried it was going to be a nightmare but it was plain sailing all the way in terms of the write off. I was realistic in what the bike was worth by using glass's guide and im happy as i could of been in the circumstances.
An Accident Management Company aka Credit Hire. They loan you a bike for "free" and charge the other insurer a huge amount for this loan. Insurers don't like being on the receiving end, so tend to go through it with a fine tooth comb.
Cue lots of people saying "but insurers do it" and similar. That's not a valid argument, as insurers are always fighting credit hire, but at the same time, whilst it exists, they a have to be involved in non-faults to mitigate some of the cost of a fault accident. Costs wise there no comparison. At best a non-fault will net them £500 on average a fault claim will cost them £1700 amd it's not a 1:3.5 ration of non-fault to fault either.
If they all stopped doing it, then it'd still exist as AMCs get referrals from bodyshops, recovery firms, solicitors, manufacturers and so on. For those interested, the "Premium Accident Repair" that came free with your car and is also available to your friends and family is a Credit Hire company rebadging themselves just for that manaufacturer.
Cue lots of people saying "but insurers do it" and similar. That's not a valid argument, as insurers are always fighting credit hire, but at the same time, whilst it exists, they a have to be involved in non-faults to mitigate some of the cost of a fault accident. Costs wise there no comparison. At best a non-fault will net them £500 on average a fault claim will cost them £1700 amd it's not a 1:3.5 ration of non-fault to fault either.
If they all stopped doing it, then it'd still exist as AMCs get referrals from bodyshops, recovery firms, solicitors, manufacturers and so on. For those interested, the "Premium Accident Repair" that came free with your car and is also available to your friends and family is a Credit Hire company rebadging themselves just for that manaufacturer.
Yeh i got asked if i wanted a bike loaner for free but it would cost them £150 a day i think she said. I said dont bother as i cant ride yet and ive got another bike anyway if i decided i needed to ride a bike. Seems that was a good decision as they've been good all the way though , maybe because i kept the costs down as much as possible.
I've not had a hire bike either! AFAIC, the AMC are simply the people my insurance use to do their paperwork. I have no interest in padding my claim in any way shape or form, but the 3rd party are playing silly beggars... I think mainly because their insured is not filling in his accident report. But that's not my problem.
At the risk of taking the thread off sideways a bit, if I get very fed up as the weeks roll by, can I refer matters to the ombudsman regarding the valuation? I did read somewhere that I might not be able to as the company I'm trying to slowly argue with is not the one that insures me...
At the risk of taking the thread off sideways a bit, if I get very fed up as the weeks roll by, can I refer matters to the ombudsman regarding the valuation? I did read somewhere that I might not be able to as the company I'm trying to slowly argue with is not the one that insures me...
defblade said:
I've not had a hire bike either! AFAIC, the AMC are simply the people my insurance use to do their paperwork. I have no interest in padding my claim in any way shape or form, but the 3rd party are playing silly beggars... I think mainly because their insured is not filling in his accident report. But that's not my problem.
At the risk of taking the thread off sideways a bit, if I get very fed up as the weeks roll by, can I refer matters to the ombudsman regarding the valuation? I did read somewhere that I might not be able to as the company I'm trying to slowly argue with is not the one that insures me...
You can't use the Ombudsman for the value unless you claim off your own insurer. At the risk of taking the thread off sideways a bit, if I get very fed up as the weeks roll by, can I refer matters to the ombudsman regarding the valuation? I did read somewhere that I might not be able to as the company I'm trying to slowly argue with is not the one that insures me...
The use of the AMC is sufficient to annoy the majority of insurers.
The fact that their insured is not reporting the claim is a key part of this would you be happy if your insurer paid out a claim on your policy on the say so of a random person?
LoonR1 said:
The fact that their insured is not reporting the claim is a key part of this would you be happy if your insurer paid out a claim on your policy on the say so of a random person?
They have a random independent witness statement and a random traffic police report to look at too, so it's not entirely made up 
Actually, I'm sure I have read on here tales of insurance companies coughing up for random non-accidents that OPs claim never happened, but we might be getting back a bit near Urban Myth again there...
defblade said:
LoonR1 said:
The fact that their insured is not reporting the claim is a key part of this would you be happy if your insurer paid out a claim on your policy on the say so of a random person?
They have a random independent witness statement and a random traffic police report to look at too, so it's not entirely made up Actually, I'm sure I have read on here tales of insurance companies coughing up for random non-accidents that OPs claim never happened, but we might be getting back a bit near Urban Myth again there...
Out of interest what bike is it you had written off? And how much have they given in total so far?
I work in motor trade so maybe I look at things a bit different to some people. My bike booked at 13k trade with 2k miles on clock. It retailed at 15k. I got 14500 and my mileage was 1500 miles. . There are several bikes around that price if I wanted like for like. Seemed fair to me.
I work in motor trade so maybe I look at things a bit different to some people. My bike booked at 13k trade with 2k miles on clock. It retailed at 15k. I got 14500 and my mileage was 1500 miles. . There are several bikes around that price if I wanted like for like. Seemed fair to me.
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