Insurance non-fault claim query
Discussion
Hey all,
Have been involved in a non-fault RTC a couple of weeks ago that left me heavily concussed, battered, bruised and car written off.
Car cost 6k 9 months ago; insurance have offered 3.5k Now I am fully aware they open up their Glasses guide and use whatever numbers are in there but I am wondering if anyone has successfully challenged them on their offer. As a consumer, I paid retail price but am being offered wholesale money. Its made me wonder why they bother asking the value of your car when you book insurance as it obviously means zip!
Anyway, if anyone can volunteer how far they got challenging the insurance offer, Id appreciate your feedback.
Ty.
Have been involved in a non-fault RTC a couple of weeks ago that left me heavily concussed, battered, bruised and car written off.
Car cost 6k 9 months ago; insurance have offered 3.5k Now I am fully aware they open up their Glasses guide and use whatever numbers are in there but I am wondering if anyone has successfully challenged them on their offer. As a consumer, I paid retail price but am being offered wholesale money. Its made me wonder why they bother asking the value of your car when you book insurance as it obviously means zip!
Anyway, if anyone can volunteer how far they got challenging the insurance offer, Id appreciate your feedback.
Ty.
Pretty typical scummy behaviour used by all insurance companies. Never accept the first offer it will always be a low ball. They are required make good your real losses, in practice they never do, so your aim is to reach a realistic ballpark valuation. They will get there eventually if you make them. The first rejection should be straight forward, keep it simple, that offer doesn't represent an acceptable settlement offer.
In the meantime, collect some evidence, the original receipt, maintenance/servicing to show value has been maintained. Evidence of current value of similar cars. Use that if necessary to reject a second unrealistic offer. However you need be realistic, account for depreciation based on mileage done, wear and tear.
Remember this is a negotiation, so don't let them bully you.
If your own insurance includes legal cover, be prepared use it.
In the meantime, collect some evidence, the original receipt, maintenance/servicing to show value has been maintained. Evidence of current value of similar cars. Use that if necessary to reject a second unrealistic offer. However you need be realistic, account for depreciation based on mileage done, wear and tear.
Remember this is a negotiation, so don't let them bully you.
If your own insurance includes legal cover, be prepared use it.
Edited by 4x4Tyke on Monday 3rd September 23:12
Glasses also give retail asking prices and retail transacted prices, for cars similar to yours. Go to a dealer where you're looking to buy your replacement, get Glasses numbers from him for your written off car and tell the insurer what they are. They will easily be able to check. Complain to the ombudsman if the insurer messes you around, you are entitled to be put back in the position you would have been in before the accident.
syl said:
Glasses also give retail asking prices and retail transacted prices, for cars similar to yours.
People don't seem aware of this and most seem to assume "Glasses" means they're going to be offered bottom book.Just been through this with daughter's Golf being written off, non-fault, and she went through her own insurer, LV.
They sent a copy of the Glasses retail transacted price - about £4700 for her car - and an ad from Autotrader. Her car is easy to pin down as it's a model - Golf Twist - that was made in some numbers and only for a short time.
They sent the cheapest one on Autotrader at £4995 in Glasgow. There were about 30 listed and they're typically £5995. So the retail transacted price at £4700 seems unlikely to be true. Looking at the car in Glasgow you could see it had £5995 in the screen! I called the garage and obviously didn't want to make too much fuss but they were evasive about the price. Plus cars in Scotland are usually dearer than England. LV also say they usually only look at a 60 mile radius (Glasgow is 200 miles away).
Anyway,LV= had already sent a cheque for £4995. Just sending it breaches their own service standards which say they should agree the value first with the customer. They agreed, in to other steps, to another £500. Daughter is one of these people who can't be done with hassle and I'm surprised she pushed it that far, and she accepted £5495.
If this is how a 'good' company like LV handles things, I really wouldn't want to be with a bad one. The other shock, which I guess is standard practice, is once they'd sent the first cheque they wanted the hire car back. I'd never thought about it before, but that must leave a lot of people completley stuffed after having their car written off. What the heck do you do if you're looking to order a new car with current leadtimes often being 6 months?
As someone said above, the FOS have issued guidance that it's the retail price they must offer. That guidance says the price must reflect what it costs you to replace. I've been through this a couple of times. I've compiled a list of cases from auto trader and then sent them. Normally works.
Also, you can bank the money and still complain. Just be clear in your correspondence that this is what you are doing, and don't sign any acceptance of their offer.
Also, you can bank the money and still complain. Just be clear in your correspondence that this is what you are doing, and don't sign any acceptance of their offer.
Hello all,
Ty for feedback. I did indeed send back two examples of CRV's on autotrader; both were nearing the £6k mark with more miles on them, and a year or so older than my one. So in a sense, my car has suffered zero depreciation and appreciated in value since i purchased it.
And yes to OP; I am claiming on other person's insurance.
I'm also concerned at them sending me a cheque and saying bye bye, and hire car back please! that will cause family issues!!
Unhappy bunny !!!
Ty for feedback. I did indeed send back two examples of CRV's on autotrader; both were nearing the £6k mark with more miles on them, and a year or so older than my one. So in a sense, my car has suffered zero depreciation and appreciated in value since i purchased it.
And yes to OP; I am claiming on other person's insurance.
I'm also concerned at them sending me a cheque and saying bye bye, and hire car back please! that will cause family issues!!
Unhappy bunny !!!
I had the same issue when my XC90 was written off last year.
They said the price offered was from an industry database and none negotiable.
I pushed and pushed and they put it into another database (!) and the offer was increased to a little more than I would have been happy with.
Keep fighting OP :-)
They said the price offered was from an industry database and none negotiable.
I pushed and pushed and they put it into another database (!) and the offer was increased to a little more than I would have been happy with.
Keep fighting OP :-)
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