Scare Tactics by Insurance Company?
Discussion
Hi - I'm looking for some advice please as I have never been in such a situation before.
My car was written off by a Third Party who my insurance company is pursuing the cost from.
My insurer's settlement figure is quite a bit below the CAP-HPI value but they claim they only use Glass, Carzoo and Carsana in their assessment so CAP is irrelevant!? They also said they don't look at examples of other cars currently selling on the market for value assessment as that is not recommended by the Ombudsman?!
So I am looking to pursue what I believe is the true worth of the car via the financial ombudsman or the small claims court.
However, they have warned me in a letter that since we are pursuing the Third Party Insurers - they are entitled to reject costs if they feel it is not in line with industry guide price.
If my insurer cannot fully recover all the cost from the Third Party then they may not be able to close the claim as a ‘non-fault’ incident.
So they are basically saying even if the Ombudsman or the Small Claims court gives me a higher value, it may actually cause this claim to be settled as "at fault" as they cannot fully recover the cost from the other party??!
My car was written off by a Third Party who my insurance company is pursuing the cost from.
My insurer's settlement figure is quite a bit below the CAP-HPI value but they claim they only use Glass, Carzoo and Carsana in their assessment so CAP is irrelevant!? They also said they don't look at examples of other cars currently selling on the market for value assessment as that is not recommended by the Ombudsman?!
So I am looking to pursue what I believe is the true worth of the car via the financial ombudsman or the small claims court.
However, they have warned me in a letter that since we are pursuing the Third Party Insurers - they are entitled to reject costs if they feel it is not in line with industry guide price.
If my insurer cannot fully recover all the cost from the Third Party then they may not be able to close the claim as a ‘non-fault’ incident.
So they are basically saying even if the Ombudsman or the Small Claims court gives me a higher value, it may actually cause this claim to be settled as "at fault" as they cannot fully recover the cost from the other party??!
Sounds a about right.
They will use the average of Glasses guide, Cap and Cazoo (these are recognised as the retail figure)
They will average the figure and that’s the amount you will receive.
If they cannot recover costs from the Third party of any part of the claim they won’t allow the NCB as you have made a claim that has not been recovered.
I would imagine before that happened your insurer would instruct solicitors to look to recover.
What insurer?
They will use the average of Glasses guide, Cap and Cazoo (these are recognised as the retail figure)
They will average the figure and that’s the amount you will receive.
If they cannot recover costs from the Third party of any part of the claim they won’t allow the NCB as you have made a claim that has not been recovered.
I would imagine before that happened your insurer would instruct solicitors to look to recover.
What insurer?
Wish said:
Have you tried to go directly to the Third party insurer ?
Thank you for the quick reply.I have not gone directly to the Third Party insurer as the guy that hit my car actually tried to do a runner.
I had to chase him down for miles to stop him.
Eventually he relented after realising I wasn't going to stop chasing him down.
My insurer contacted his insurer two months ago but there is still no response.
I find it illogical that if the ombudsman or small claims court award me a higher amount, they seem to be saying the Third Party insurer can still dispute it and not pay that amount thereby making the claim "at fault" as they cannot recover the full cost!
They are correct that if they can’t recover all costs that it wouldn’t be closed as “non-fault”. That’s not a scare tactic as such but more of a fact so you are aware of the potential outcome.
I would have expected their use of actual retailers such as Cazoo to have resulted in a higher settlement compared to CAP assuming you mean vehicles on sale. After all you can buy a replacement from Cazoo.
Are you saying what they are offering is insufficient to replace the vehicle?
I would have expected their use of actual retailers such as Cazoo to have resulted in a higher settlement compared to CAP assuming you mean vehicles on sale. After all you can buy a replacement from Cazoo.
Are you saying what they are offering is insufficient to replace the vehicle?
Dingu said:
They are correct that if they can’t recover all costs that it wouldn’t be closed as “non-fault”. That’s not a scare tactic as such but more of a fact so you are aware of the potential outcome.
I would have expected their use of actual retailers such as Cazoo to have resulted in a higher settlement compared to CAP assuming you mean vehicles on sale. After all you can buy a replacement from Cazoo.
Are you saying what they are offering is insufficient to replace the vehicle?
The CAP-HPI is quite a bit higher than Carzoo but they say they don't take into account the CAP guide which again I find strange.I would have expected their use of actual retailers such as Cazoo to have resulted in a higher settlement compared to CAP assuming you mean vehicles on sale. After all you can buy a replacement from Cazoo.
Are you saying what they are offering is insufficient to replace the vehicle?
I am told that over 70% of the car industry relies on CAP so why is that not taken into account...
There is also an exact same car as mine but with higher mileage currently selling through auto trader that is another £1000 higher than even the CAP figure.
Greenpanda said:
The CAP-HPI is quite a bit higher than Carzoo but they say they don't take into account the CAP guide which again I find strange.
I am told that over 70% of the car industry relies on CAP so why is that not taken into account...
There is also an exact same car as mine but with higher mileage currently selling through auto trader that is another £1000 higher than even the CAP figure.
Right, but could you buy the same car with similar mileage with the offer being made? I am told that over 70% of the car industry relies on CAP so why is that not taken into account...
There is also an exact same car as mine but with higher mileage currently selling through auto trader that is another £1000 higher than even the CAP figure.
If the answer is yes you I expect aren’t going to have much luck pursuing it further as the offer will be a reasonable reflection of the value. If no then you may well have a case to pursue.
Just as a side point you have to go through the insurers complaints process before going to the ombudsman. You may already have in which case the point is moot
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