Urgent! Advice sought contesting insurance valuation (Z4M)
Discussion
Hi folks
If anyone has successfully negotiated with insurance companies on valuations for settlements I'd love to hear from them
My lovely Z4M took a ding recently to the front and the repairs (bumper, headlights and radiator etc) are looking like the best part of £8k from the assessor. I had it sent to a local workshop I am a customer of and they have told me the trade glasses valuation is £8090. Either way I am expecting the worst ie uneconomic repair.
The car was mint, though high mileage (mid 90's) with CSL wheels fitted and replacement value is realistically closer to 14-15 in the condition mine was in.
1) Other than evidencing classifieds (not so many examples around) has anyone got any recommendations or advice for this process?
2) I should have a right to fix the car myself if I want, correct (even if Cat C required worst case)?
....
Someday when I'm feeling chirpier I'll post the extra damage that was caused when the vehicle was repatriated to the UK from Europe (not part of the above repairs). It will make your eyes water. Oh all right then you twisted my arm.
If anyone has successfully negotiated with insurance companies on valuations for settlements I'd love to hear from them
My lovely Z4M took a ding recently to the front and the repairs (bumper, headlights and radiator etc) are looking like the best part of £8k from the assessor. I had it sent to a local workshop I am a customer of and they have told me the trade glasses valuation is £8090. Either way I am expecting the worst ie uneconomic repair.
The car was mint, though high mileage (mid 90's) with CSL wheels fitted and replacement value is realistically closer to 14-15 in the condition mine was in.
1) Other than evidencing classifieds (not so many examples around) has anyone got any recommendations or advice for this process?
2) I should have a right to fix the car myself if I want, correct (even if Cat C required worst case)?
....
Someday when I'm feeling chirpier I'll post the extra damage that was caused when the vehicle was repatriated to the UK from Europe (not part of the above repairs). It will make your eyes water. Oh all right then you twisted my arm.
Soov535 - I've never had one but I'm learning fast. Is the value a collar/floor as a matter of interest with those or fixed - i.e. if the vehicle appreciates you can evidence that if needs be
I was simply plain ignorant that an industry valuation guide could be so detached from reality
I was simply plain ignorant that an industry valuation guide could be so detached from reality
essayer
there's more where that came from. If I told you the bonnet was unaffected in the incident would you believe me. Basically when the car was being brought back to the UK it seems to have been treated like it was going to the scrapyard. Elephant dropped on bonnet - hinges as you see them, bonnet support struts broken clean off mountings, straps (I assume) across the wings abrading paintwork to the metal and......car presumably squeezed into a gap and grooves etched into the tonneau cover. An estimated £3.5k of additional damage caused whilst under insurance co custody.
I'm treating as a separate thing in my head (ie the 8k repairs excludes the above) as I think I'd be pretty hard done by if the ins co didn't recognise the additional damage from their transport company. But in reality it's just another headache for the claims adjuster so more likely I get an offer of some sort I imagine.
[url]
|http://thumbsnap.com/vB4tnGM9[/url]
there's more where that came from. If I told you the bonnet was unaffected in the incident would you believe me. Basically when the car was being brought back to the UK it seems to have been treated like it was going to the scrapyard. Elephant dropped on bonnet - hinges as you see them, bonnet support struts broken clean off mountings, straps (I assume) across the wings abrading paintwork to the metal and......car presumably squeezed into a gap and grooves etched into the tonneau cover. An estimated £3.5k of additional damage caused whilst under insurance co custody.
I'm treating as a separate thing in my head (ie the 8k repairs excludes the above) as I think I'd be pretty hard done by if the ins co didn't recognise the additional damage from their transport company. But in reality it's just another headache for the claims adjuster so more likely I get an offer of some sort I imagine.
[url]|http://thumbsnap.com/vB4tnGM9[/url]
It's not HWH is it? My old car.What the policy says:
(i)
Your car is insured for its current market value at the time of the loss.
If your car is more than 20 years old, an agreed valuation can be obtained, subject to underwriting approval
(ii)
Market value The cost of replacing your car, with one of a similar make, model, year, mileage and condition based on market prices at the time
of the loss. Use of the term ‘market’ in which you would normally shop for your car e.g. retail value, will not apply if you buy your
car privately or at auction.
Non-European manufactured cars will be valued based on European import values or the nearest British equivalent, at our discretion.
.....
Still no communication....
(i)
Your car is insured for its current market value at the time of the loss.
If your car is more than 20 years old, an agreed valuation can be obtained, subject to underwriting approval
(ii)
Market value The cost of replacing your car, with one of a similar make, model, year, mileage and condition based on market prices at the time
of the loss. Use of the term ‘market’ in which you would normally shop for your car e.g. retail value, will not apply if you buy your
car privately or at auction.
Non-European manufactured cars will be valued based on European import values or the nearest British equivalent, at our discretion.
.....
Still no communication....
All
My apologies for not coming back to the post I didn't notice the extra postings.
What happened was that my case officer at Admiral went on holiday, a colleague with more get up and go looked at when she was out and immediately escalated internally without being asked. I think she sensed the negative PR potential regarding damage done by their recovery.
I prepared a 2 pager on evidence for values, shared with Admiral and spoke to the same person who immediately looked up some specialist websites with me on the phone and concurred straight away that Glass's values were totally out of whack with reality. I was asked what my end game was - cash or repair, and went for repair. Full repair was sanctioned within a few weeks much to my surprise as it was now c. 8k repairs. Took a while but finally got it back in....November. Could have kicked up more of a fuss for time without a car but I don't commute and was glad to get it back (no "category" labels).
Moral of story seems to be - depends who you get on the Admiral side!
Sincere thanks once again to the very helpful posts on this topic.
Best
My apologies for not coming back to the post I didn't notice the extra postings.
What happened was that my case officer at Admiral went on holiday, a colleague with more get up and go looked at when she was out and immediately escalated internally without being asked. I think she sensed the negative PR potential regarding damage done by their recovery.
I prepared a 2 pager on evidence for values, shared with Admiral and spoke to the same person who immediately looked up some specialist websites with me on the phone and concurred straight away that Glass's values were totally out of whack with reality. I was asked what my end game was - cash or repair, and went for repair. Full repair was sanctioned within a few weeks much to my surprise as it was now c. 8k repairs. Took a while but finally got it back in....November. Could have kicked up more of a fuss for time without a car but I don't commute and was glad to get it back (no "category" labels).
Moral of story seems to be - depends who you get on the Admiral side!
Sincere thanks once again to the very helpful posts on this topic.
Best
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