3rd party insurance Q: Interim payment & Cat B Salvage
Discussion
Hello knowledgable PistonHeads
I'm new here, although thought I had an account many years ago could do with some of your thoughts please.
Long story short (ish)
My VW T5 Transporter Camper Van was crashed into by someone just over a month ago while parked and unattended at the roadside by my house at 5am. (I am in no way at fault as was parked legally on the road and in bed at the time.) We purchased the van in April 2022 for £14,000. The vehicle has been deemed a CAT B write off.
Instead of claiming on my own insurance and losing my NCB, I am pursuing a claim though the third party insurers. Their insurers have since offered me £9500 less the salvage of £425. £9075 total.
I have disputed this and provided evidence to which the replied saying that I did not provide "like for like" vehicles in evidence and that they would not offer more for the vehicle. The evidence they provided was for vans valued at £12,500 (GO FIGURE!)
Subsequently, I have sent them an independent assessors report which values the vehicle at £14,000 and further examples of evidence from Auto Trader and the like to prove that I cannot replace my van with a similar van for less than £14,000.
While I am waiting for a response from the Assessors (Northern Assessors) the third party insuranced is pressuring me to accept an interim payment and asking for my BACS details. (I have said I don't wish to accept any interim payment.)
Should I accept this interim payment? Are there repercussions if I do, or don't?
Should I accept salvage of a CAT B vehicle? Can I refuse to accept it? (I have said I will not accept it but again they are pressuring me!)
Should I be stipulating that they pay me in full and deal with the salvage themselves?
Any advice gratefully received and thank you if you got this far!
Kate
I'm new here, although thought I had an account many years ago could do with some of your thoughts please.
Long story short (ish)
My VW T5 Transporter Camper Van was crashed into by someone just over a month ago while parked and unattended at the roadside by my house at 5am. (I am in no way at fault as was parked legally on the road and in bed at the time.) We purchased the van in April 2022 for £14,000. The vehicle has been deemed a CAT B write off.
Instead of claiming on my own insurance and losing my NCB, I am pursuing a claim though the third party insurers. Their insurers have since offered me £9500 less the salvage of £425. £9075 total.
I have disputed this and provided evidence to which the replied saying that I did not provide "like for like" vehicles in evidence and that they would not offer more for the vehicle. The evidence they provided was for vans valued at £12,500 (GO FIGURE!)
Subsequently, I have sent them an independent assessors report which values the vehicle at £14,000 and further examples of evidence from Auto Trader and the like to prove that I cannot replace my van with a similar van for less than £14,000.
While I am waiting for a response from the Assessors (Northern Assessors) the third party insuranced is pressuring me to accept an interim payment and asking for my BACS details. (I have said I don't wish to accept any interim payment.)
Should I accept this interim payment? Are there repercussions if I do, or don't?
Should I accept salvage of a CAT B vehicle? Can I refuse to accept it? (I have said I will not accept it but again they are pressuring me!)
Should I be stipulating that they pay me in full and deal with the salvage themselves?
Any advice gratefully received and thank you if you got this far!
Kate
You can stipulate whatever you want. But they don't have to agree. You have no contract with the tp insurer, so the terms of any agreement you reach with them is up for negotiation.
Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
TwigtheWonderkid said:
You can stipulate whatever you want. But they don't have to agree. You have no contract with the tp insurer, so the terms of any agreement you reach with them is up for negotiation.
Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
Thank you for your help.Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
My insurance aren't really being very helpful and won't confirm that I won't lose my NCB which is why I haven't risked claiming on my own insurance.
The whole thing is an absolute farce with the only winners being the insurance companies! Here's hoping for a more realistic offer from the TP insurance company.
fourplatekate said:
TwigtheWonderkid said:
You can stipulate whatever you want. But they don't have to agree. You have no contract with the tp insurer, so the terms of any agreement you reach with them is up for negotiation.
Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
Thank you for your help.Yes, you can accept the interim payment, making sure that they agree that this is not accepted as full and final settlement of the claim and is just an interim payment. You can ask for the £425 and they keep the salvage, and they might agree or not. You can ask for £14K and they can agree or not.
Ultimately, you can take them to court to try and get everything you want, and the court will decide on what is fair.
Personally, I'd have claimed off my own insurance (you don't buy a dog and bark yourself), agree a payout with them, and leave them to fight with the tp. If they make a recovery of their outlay, you won't lose your NCB anyway.
My insurance aren't really being very helpful and won't confirm that I won't lose my NCB which is why I haven't risked claiming on my own insurance.
The whole thing is an absolute farce with the only winners being the insurance companies! Here's hoping for a more realistic offer from the TP insurance company.
Forums | General Gassing | Top of Page | What's New | My Stuff