Write off valuation - third party liable

[benz0]

In short - my non-uk car was written off by drunk UK driver whilst on holiday in the UK.

I am now at the stage of the valuation of the vehicle. As my car is non-UK this complicates the valuation process somewhat, but I understand that as the crash was in the UK, and the liable driver is English, English law is applicable.

I have been researching the issue of valuation of a written off vehicle and have found the following from the Financial Ombudsman ( http://www.financial-ombudsman.org.uk/publications... )

Most of the complaints we see involve disagreements about the "market" value of the vehicle. This generally means the price it would have sold for at a reputable dealership just before it was damaged or stolen. To reach a fair price, it's important to check that the vehicle's details have been recorded correctly.

Can anyone corroborate this with any other credible sources, as I understand that the F.O. strictly speaking only applies if you are claiming against your own insurer?

Edited by benz0 on Tuesday 12th September 10:28

[TooMany2cvs]

I suspect your big problem will be that a UK insurer will only be looking to pay the UK market value. You will need to prove the local market value of your car if it's significantly different - and it almost certainly will be, as used car values are low in the UK, in large part because RHD means we don't have significant cross-border traffic.

You may find the whole procedure a LOT easier by claiming from your own insurer, who then reclaims from the UK driver's insurer.

[benz0]

TooMany2cvs said:

I suspect your big problem will be that a UK insurer will only be looking to pay the UK market value. You will need to prove the local market value of your car if it's significantly different - and it almost certainly will be, as used car values are low in the UK, in large part because RHD means we don't have significant cross-border traffic.

You may find the whole procedure a LOT easier by claiming from your own insurer, who then reclaims from the UK driver's insurer.

the car is not being assessed in the UK for that reason, it is being assessed where we live in accordance with normal practices here.

The difficult part of that will be that over here the valuation will be more like trade value rather than value of the car when bought from a reputable dealer, i.e. the cost of replacing it. However, I can obtain an equivalent of Parkers that will give a breakdown of trade value/value if bought private/value if bought from a reputable dealer etc. So the main issue I foresee is that of my original post, i.e. corroborating the source of the Financial Ombudsman that the market value should be the cost of replacing it from a reputable dealer.

[TooMany2cvs]

benz0 said:

TooMany2cvs said:

I suspect your big problem will be that a UK insurer will only be looking to pay the UK market value. You will need to prove the local market value of your car if it's significantly different - and it almost certainly will be, as used car values are low in the UK, in large part because RHD means we don't have significant cross-border traffic.

You may find the whole procedure a LOT easier by claiming from your own insurer, who then reclaims from the UK driver's insurer.

the car is not being assessed in the UK for that reason, it is being assessed where we live in accordance with normal practices here.

Have the UK insurer commissioned that assessment?

[benz0]

TooMany2cvs said:

Have the UK insurer commissioned that assessment?

Correct, through their appointed insurance agent here.

[anonymous-user]

benz0 said:

Correct, through their appointed insurance agent here.

Which insurer is it?

It will probably follow the usual process of

Bid in the nuts - reject
Increased bid - reject
Almost there - sod it may as well accept.