Black Ice hit - car a write off - Insurance experts please

[edo]

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

doh. they always have more in reserve. reject the first offer!!

[Polarbert]

edo said:

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

doh. they always have more in reserve. reject the first offer!!

This.

[m3sye]

Yeah I would have done but they new the car was up for 8895, and I have waited so long I really could not be bothered waiting more for an extra 2/300. No way would they offer me more than I had it up for sale for.
I was expecting less so I am happy with this. Aint got time to mess around anymore.

[jamoor]

m3sye said:

Somnophore said:

Oh, admiral can be a right pain, if you pay monthly they deduct the rest of the years premium from any settlement figure, however you should be able to negotiate a settlement figure, just ask to speak to a
manager and talk some crap about insurance ombudsman if they fanny about.

Yeah they have told me they will do that, only 3 months in to which is a ball ache.

Can I ask how you know this? and what crap should I mentioned about the insurance ombudsman?

How do they get away with that then?

Lets say you had a policy ranging from 1st Jan 2011 - 1st jan 2012 costing £1200

You had an accident 31st March, you paid to be insured for an entire 12 months, so they should give you £900 back as they are not insuring anything for the remaiing 9 months!!

[m3sye]

That is pretty much what happened to me

72.00P/M Paid for 3 months - have to deduct 72.00 x 9 from the final figure.

[GKP]

It's an industry standard for the full premium to be payable if you make a claim.


OP, I'd say you've had a reasonable payout - time to go shopping!

[m3sye]

Yeah I agree,

I was ready to reject as I was expecting the 7k mark, but what is the point just for the sake of it.

[jeff666]

m3sye said:

Yeah I would have done but they new the car was up for 8895, and I have waited so long I really could not be bothered waiting more for an extra 2/300. No way would they offer me more than I had it up for sale for.
I was expecting less so I am happy with this. Aint got time to mess around anymore.

Good result, considering you were driving like a c0ck , over the speed limit, on black ice, blindfolded, with one arm tied behind your back.

Only joking whats the next toy gonna be ?

[m3sye]

Ordering a new golf gti, so gonna make do with something till that is delivered. Not sure what, just going to pop down to the BMW auction and see what I can get for 8k.

[TonyHetherington]

jamoor said:

m3sye said:

Somnophore said:

Oh, admiral can be a right pain, if you pay monthly they deduct the rest of the years premium from any settlement figure, however you should be able to negotiate a settlement figure, just ask to speak to a
manager and talk some crap about insurance ombudsman if they fanny about.

Yeah they have told me they will do that, only 3 months in to which is a ball ache.

Can I ask how you know this? and what crap should I mentioned about the insurance ombudsman?

How do they get away with that then?

Lets say you had a policy ranging from 1st Jan 2011 - 1st jan 2012 costing £1200

You had an accident 31st March, you paid to be insured for an entire 12 months, so they should give you £900 back as they are not insuring anything for the remaiing 9 months!!

They're not offering you insurance for £100/month, which happens to be £1200 after a year. They're offering to insure your car for one year for £1200. That they allow you to pay it over 12 months is neither here nor there. The cost is £1200. They wouldn't insure you for 1 month for £100, it would be much more than that, hence why it's not pro rata if you have a write off before the policy ends.

[winks13]

Good to hear you got a decent payout. Having worked in the insurance industry in claims for a couple of years I commend your decision to take the reasonable offer. While you may have been able to badger them for more you would be making a nuisence of yourself, and believe me that does actually make a difference. The insurance company will be noting everything that happens and those notes will be refered to in the future if you continue to insurance with them. The better you are to deal with the better you will be treated in future.

If you are willing to call around it may be worth checking out what other companies offer you to insure your next car. The company I used to work for (in NZ sorry) wrote their policies as a monthly contract instead of a yearly contract paid in installments. This meant that if you had the situation you just experienced you do not need to pay out the full year as your contract is only for the month. It's still paid by DD the same as a yearly contract it just means you need to receive a selection of new policy documents every month (which should be able to be sent by email for easy filing).

[marcosgt]

TonyHetherington said:

jamoor said:

m3sye said:

Somnophore said:

Oh, admiral can be a right pain, if you pay monthly they deduct the rest of the years premium from any settlement figure, however you should be able to negotiate a settlement figure, just ask to speak to a
manager and talk some crap about insurance ombudsman if they fanny about.

Yeah they have told me they will do that, only 3 months in to which is a ball ache.

Can I ask how you know this? and what crap should I mentioned about the insurance ombudsman?

How do they get away with that then?

Lets say you had a policy ranging from 1st Jan 2011 - 1st jan 2012 costing £1200

You had an accident 31st March, you paid to be insured for an entire 12 months, so they should give you £900 back as they are not insuring anything for the remaiing 9 months!!

They're not offering you insurance for £100/month, which happens to be £1200 after a year. They're offering to insure your car for one year for £1200. That they allow you to pay it over 12 months is neither here nor there. The cost is £1200. They wouldn't insure you for 1 month for £100, it would be much more than that, hence why it's not pro rata if you have a write off before the policy ends.

I used to insure my car with Ironsure for a couple of years. They DID insure you for a month at a time and were very competitive.

Unfortunately, they withdrew from the domestic market...

M

[TonyHetherington]

Oh there are companies that do it - even for a day, but their cost is based on doing it a month at a time and so quote accordingly (if that makes sense?!)

[R1 Loon]

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

But........but.......but......... they can’t do that. What will all the nay-sayers do now that it went through without a hiccup?

jamoor said:

How do they get away with that then?

Lets say you had a policy ranging from 1st Jan 2011 - 1st jan 2012 costing £1200

You had an accident 31st March, you paid to be insured for an entire 12 months, so they should give you £900 back as they are not insuring anything for the remaiing 9 months!!

Insurance is an annual contract covering you from day one to day 365 for the full amount. No matter what day you claim on then the contract has been met in full from their side and you need to meet your obligation in full ie pay the full annual premium.

Some insurers will allow the policy to continue for a small fee and treat the change as a mid-term adjustment. However, the cheaper the policy, the less likely this is to happen.

winks13 said:

Good to hear you got a decent payout. Having worked in the insurance industry in claims for a couple of years I commend your decision to take the reasonable offer. While you may have been able to badger them for more you would be making a nuisence of yourself, and believe me that does actually make a difference. The insurance company will be noting everything that happens and those notes will be refered to in the future if you continue to insurance with them. The better you are to deal with the better you will be treated in future.

What a load of bks. Nobody stores opinions on file and as most quotes are online anyway, few insurers (if any) would have sophisticated enough software to deliver a specific quote to that level of detail

winks13 said:

If you are willing to call around it may be worth checking out what other companies offer you to insure your next car. The company I used to work for (in NZ sorry) wrote their policies as a monthly contract instead of a yearly contract paid in installments. This meant that if you had the situation you just experienced you do not need to pay out the full year as your contract is only for the month. It's still paid by DD the same as a yearly contract it just means you need to receive a selection of new policy documents every month (which should be able to be sent by email for easy filing).

Ermmmm, laws around contracts, especially insurance do tend to differ between countries.

[ZOLLAR]

R1 Loon said:

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

But........but.......but......... they can’t do that. What will all the nay-sayers do now that it went through without a hiccup?

bks, someone has dropped the ball there haven't they R1LOON,!.

[R1 Loon]

ZOLLAR said:

R1 Loon said:

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

But........but.......but......... they can’t do that. What will all the nay-sayers do now that it went through without a hiccup?

bks, someone has dropped the ball there haven't they R1LOON,!.

Go get them, they deserve to be sacked immediately and have their "Insurance Shyster" badge downgraded to two stars.;)

[m3sye]

Credit where credit is due if you ask me, yes they took a month to make me and offer but the weather made that worse, but they have been great in every other way.

Insurer was Admiral.

[ZOLLAR]

m3sye said:

Credit where credit is due if you ask me, yes they took a month to make me and offer but the weather made that worse, but they have been great in every other way.

Insurer was Admiral.

In that case, brilliant R1 LOON i think i overreacted

[so called]

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

I wrote off my Mk1 Tuscan under similar circumstances in 2009.
Insurance offered me based on there review of the cost to replace for similar aged / condition (rebuilt engine etc).
They offered me 14k (which was 50 quid more than I had paid 2 years before). I rejected it but they came back with the same offer after a second review and gave me a list of possible replacement cars.
I accepted it as the guy had clearly done his job and the offer was fair.
I dont think that accepting the first offer it is fair is wrong so congrats and good look on finding your next car.

[m3sye]

so called said:

m3sye said:

Well offer is finally in

Was up for sale for 8895.00 would have taken 8500 for a private sale, insurance company has offered me 8600.00 with their first offer [which I have accepted]

I wrote off my Mk1 Tuscan under similar circumstances in 2009.
Insurance offered me based on there review of the cost to replace for similar aged / condition (rebuilt engine etc).
They offered me 14k (which was 50 quid more than I had paid 2 years before). I rejected it but they came back with the same offer after a second review and gave me a list of possible replacement cars.
I accepted it as the guy had clearly done his job and the offer was fair.
I dont think that accepting the first offer it is fair is wrong so congrats and good look on finding your next car.

Totally agree, If it had been lower the refuse button was primed and ready, but I want a new car not an extra hundred quid...