£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
Sheepshanks said:
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
The OPs story sounds like Admiral too - there's a lesson there.Butter Face said:
RTI GAP is a no brainier on any new car.
Op, £3.7k premium? Ouch.
I actually think it's an okish deal. We get up to £150 k of vehicles insured fully comp, as long as no single vehicle exceeds £75k. I have 3 motorbikes and 3 cars, the 'best' of which is a C63, parked on an East London street with business use. I did shop around, but this looked like the best on offer?Op, £3.7k premium? Ouch.
Hoover. said:
are you saying you pay £3.5k a year insurance on ...
my merc coupe (when new £36k) was less then £400
my TVR Griffith less the £300
most expensive is an old X Reg Jeep Grand Cherokee at a tad under £500
....... or may be I'm miss reading your thread
Er, no.my merc coupe (when new £36k) was less then £400
my TVR Griffith less the £300
most expensive is an old X Reg Jeep Grand Cherokee at a tad under £500
....... or may be I'm miss reading your thread
I have an Elise, C63, Evoque, E30 BMW and 3 motorcycles for 3.7k, all fully comp, incl Mrs TH
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