What is indemnity value?

[lawrence567]

Evening PH'ers,

A relative of mine recently had a small smash, in turn they've written my relatives car off, 06 Civic 1.8 5 door.
They've offered him £6200 & are pushing him for acceptance & have given him until tomorrow morning to accept, firstly what is indemnity?
Can my relative challenge the amount & does it seem like a fair amount?

[heisthegaffer]

Indemnity value is the cost of replacing on a like for like basis i.e a similar spec'd model with similar mileage.

Who is chasing your relative for an answer and why are they chasing?

[lawrence567]

The insurance company, they just said they wanted him to accept the offer there & then, he just said i want to have a think about it & they said ok well we'll give you until tomorrow lunchtime but we want it wrapped up before tomorrow afternoon.... no idea why.

[crocodile tears]

lawrence567 said:

Evening PH'ers,

A relative of mine recently had a small smash, in turn they've written my relatives car off, 06 Civic 1.8 5 door.
They've offered him £6200 & are pushing him for acceptance & have given him until tomorrow morning to accept, firstly what is indemnity?
Can my relative challenge the amount & does it seem like a fair amount?

you can always challenge it..

go to the classified and send them links to lots of similar spec/model/age etc vehicles if you think they arent paying out enough

[E30M3SE]

He can challenge it, best way to do this is to find cars of similar age, mileage, condition and spec as his in the classifieds and pass these detail on to the ins. co. as evidence that £6.2k will not buy him a car same as the one they are writing off.

[hardcorehobbit]

lawrence567 said:

The insurance company, they just said they wanted him to accept the offer there & then, he just said i want to have a think about it & they said ok well we'll give you until tomorrow lunchtime but we want it wrapped up before tomorrow afternoon.... no idea why.

Getting it done before the end of the month?

[lawrence567]

hardcorehobbit said:

Getting it done before the end of the month?

That's the only thing i could think of.. what they've offered seems pretty fair anyway!