valuing an insurance write off
Discussion
Whats the accepted figure on insurance payout , do they base the price on Glasses guide or is it the going market rate for similar vehicles advertised ( autotrader )
Its regarding a car bought from main dealership with full service history , low mileage for year .
Sent off all required docs and quotation of similar spec car from main dealership , obviously this figure is higher than the glasses guide price ,
do you reject first offer / bargain etc , how much leeway do you have ?
thanks
ALWAYS reject their first offer.
You are a retail customer, so will pay retail to replace your car. Send the most expensive examples of similar cars you can - the more the better, and keep rejecting their offers until you can replace your car with like for like.
Tell is the make/model/age/spec/miles/condition.
Also provide details of any recent maintenance work to your insurers, such as new tyres, brakes, service etc.
You are a retail customer, so will pay retail to replace your car. Send the most expensive examples of similar cars you can - the more the better, and keep rejecting their offers until you can replace your car with like for like.
Tell is the make/model/age/spec/miles/condition.
Also provide details of any recent maintenance work to your insurers, such as new tyres, brakes, service etc.
Generally speaking most Insurers will value your car at mid-book, so whilst you wont get the Retail price (since you yourself arent able to offer a warranty & the piece of mind that goes with buying from a Franchised Dealer), equally you wont get the Trade (auction) price either since your merely Joe Public.
However, people who delude themselves that there car is worth exactly the same amount (or more) as the equivalent car on sale at there local BMW or Ford Franchised Dealer should ask themselves this one question, if two cars were advertised at the same price & one was being sold privately & the other from a Franchised Dealer, which would you pick ? Remember, an Insurance policy is meant to place you back in a position you where prior to the incident occuring, its not there to enable you to buy an (allegedly) equivalent car from a Dealer with a FOC 12 month warranty, brand new MOT & previous day PDI.
Not withstanding though, Insurers who are genuinely concerned as to Customer care will, in order to appease a disgruntled Insured, usually offer a few percent more than there initial offer if you push them hard enough.
However, people who delude themselves that there car is worth exactly the same amount (or more) as the equivalent car on sale at there local BMW or Ford Franchised Dealer should ask themselves this one question, if two cars were advertised at the same price & one was being sold privately & the other from a Franchised Dealer, which would you pick ? Remember, an Insurance policy is meant to place you back in a position you where prior to the incident occuring, its not there to enable you to buy an (allegedly) equivalent car from a Dealer with a FOC 12 month warranty, brand new MOT & previous day PDI.
Not withstanding though, Insurers who are genuinely concerned as to Customer care will, in order to appease a disgruntled Insured, usually offer a few percent more than there initial offer if you push them hard enough.
Robbo101 said:
Generally speaking most Insurers will value your car at mid-book, so whilst you wont get the Retail price (since you yourself arent able to offer a warranty & the piece of mind that goes with buying from a Franchised Dealer), equally you wont get the Trade (auction) price either since your merely Joe Public.
However, people who delude themselves that there car is worth exactly the same amount (or more) as the equivalent car on sale at there local BMW or Ford Franchised Dealer should ask themselves this one question, if two cars were advertised at the same price & one was being sold privately & the other from a Franchised Dealer, which would you pick ? Remember, an Insurance policy is meant to place you back in a position you where prior to the incident occuring, its not there to enable you to buy an (allegedly) equivalent car from a Dealer with a FOC 12 month warranty, brand new MOT & previous day PDI.
Not withstanding though, Insurers who are genuinely concerned as to Customer care will, in order to appease a disgruntled Insured, usually offer a few percent more than there initial offer if you push them hard enough.
agreed however , consider However, people who delude themselves that there car is worth exactly the same amount (or more) as the equivalent car on sale at there local BMW or Ford Franchised Dealer should ask themselves this one question, if two cars were advertised at the same price & one was being sold privately & the other from a Franchised Dealer, which would you pick ? Remember, an Insurance policy is meant to place you back in a position you where prior to the incident occuring, its not there to enable you to buy an (allegedly) equivalent car from a Dealer with a FOC 12 month warranty, brand new MOT & previous day PDI.
Not withstanding though, Insurers who are genuinely concerned as to Customer care will, in order to appease a disgruntled Insured, usually offer a few percent more than there initial offer if you push them hard enough.
prior to accident Car was bought from main dealership with full dealership service history maintained at dealership.
as opposed to car bought from private seller with variable history ?
The dealership have sent the insurance company a quotation of a car which they have for sale that is identical to the written off vehicle , obviously this will be + 500 more than a private vehicle from joe public ,
wait to see ehat there response is ?
luckily its not my car
DBSV8 said:
agreed however , consider
prior to accident Car was bought from main dealership with full dealership service history maintained at dealership.
as opposed to car bought from private seller with variable history ?
The dealership have sent the insurance company a quotation of a car which they have for sale that is identical to the written off vehicle , obviously this will be + 500 more than a private vehicle from joe public ,
wait to see ehat there response is ?
luckily its not my car
More like +£1500 or more IMO.prior to accident Car was bought from main dealership with full dealership service history maintained at dealership.
as opposed to car bought from private seller with variable history ?
The dealership have sent the insurance company a quotation of a car which they have for sale that is identical to the written off vehicle , obviously this will be + 500 more than a private vehicle from joe public ,
wait to see ehat there response is ?
luckily its not my car
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