Write of valuation- porsche boxster

[v8ben]

Hi all — I’d welcome some advice from those with experience of insurance write-offs and Porsche valuations.

I’ve recently had my 987.2 Boxster written off in a no-fault incident. The insurer’s initial settlement offer is just under £10k, which feels significantly below current market replacement cost. From everything I can see, there is no realistic way to replace a like-for-like car (year, mileage, spec, condition) for under ~£13k in today’s market.

I’ve challenged the valuation in writing and provided current market comparables, but I’d be very interested to hear from anyone who’s been through something similar — particularly what helped in getting the insurer to move to a fair market figure.

Cheers

Any advice or experiences gratefully received.

[Furbo]

v8ben said:

Hi all I d welcome some advice from those with experience of insurance write-offs and Porsche valuations.

I ve recently had my 987.2 Boxster written off in a no-fault incident. The insurer s initial settlement offer is just under £10k, which feels significantly below current market replacement cost. From everything I can see, there is no realistic way to replace a like-for-like car (year, mileage, spec, condition) for under ~£13k in today s market.

I ve challenged the valuation in writing and provided current market comparables, but I d be very interested to hear from anyone who s been through something similar particularly what helped in getting the insurer to move to a fair market figure.

Cheers

Any advice or experiences gratefully received.

If it's not enough, tell them to buy you a similar replacement. They won't want to, so will increase their offer. Is my guess as to the outcome.

[skyebear]

Have a read of this:

https://www.financial-ombudsman.org.uk/businesses/...

It details how much weight they place on vehicle adverts - a lot at the moment it seems.

You could have a rummage through their published outcomes too.

Share your findings in a complaint to the insurer that their valuation is unfair.

[v8ben]

skyebear said:

Have a read of this:

https://www.financial-ombudsman.org.uk/businesses/...

It details how much weight they place on vehicle adverts - a lot at the moment it seems.

You could have a rummage through their published outcomes too.

Share your findings in a complaint to the insurer that their valuation is unfair.

Thx thats helpful.

[Steve H]

I have been in an identical situation, car written off by another driver with no dispute over liability.

They offered roughly 2/3 of replacement value and would not budge despite evidence that the car could not be replaced for anything like their valuation, which was based on a book figure. They were firm that they were happy to go to the ombudsman and book figure was all they would be expected to offer (this may have improved now judging from skyebears post).

You could almost hear them sniggering as they were inviting me to take it to the ombudsman so I suggested that I wouldn’t need to do that as I was intending to sue them for the correct amount and had plenty of evidence to do it. It took about 20 minutes for them to come back with an acceptable amount.


As a bonus, they forgot to collect the damaged car that they now owned and when I chased them on this almost 12 months later it was with a note that there was a significant storage charge due .

[200Plus Club]

Steve H said:

I have been in an identical situation, car written off by another driver with no dispute over liability.

They offered roughly 2/3 of replacement value and would not budge despite evidence that the car could not be replaced for anything like their valuation, which was based on a book figure. They were firm that they were happy to go to the ombudsman and book figure was all they would be expected to offer (this may have improved now judging from skyebears post).

You could almost hear them sniggering as they were inviting me to take it to the ombudsman so I suggested that I wouldn t need to do that as I was intending to sue them for the correct amount and had plenty of evidence to do it. It took about 20 minutes for them to come back with an acceptable amount.


As a bonus, they forgot to collect the damaged car that they now owned and when I chased them on this almost 12 months later it was with a note that there was a significant storage charge due .

Which insurer out of interest?

[Steve H]

200Plus Club said:

Which insurer out of interest?

It was Covea.

[GasEngineer]

Steve H said:

As a bonus, they forgot to collect the damaged car that they now owned and when I chased them on this almost 12 months later it was with a note that there was a significant storage charge due .

Did they pay?

[vaud]

If you have an eBay account then you can use advanced search to find actual sold prices, rather than asking price.

[Steve H]

GasEngineer said:

Steve H said:

As a bonus, they forgot to collect the damaged car that they now owned and when I chased them on this almost 12 months later it was with a note that there was a significant storage charge due .

Did they pay?

Yep.

The exact circumstances (cock up at their end) meant they had little option.

[Jap90s]

I've had similar - I gave them ads and I selected the highest / nearest ones

They said their engineer had given them the value, I said I wanted to speak to him directly, the engineer immediately caved and gave me the value I requested