Insurance offer..
Discussion
Just been offered £800 on my Eunos S Special after it was smashed.They have said I can keep the car and as the offer is under £1000, I won't have to pay 14% of what they have offered to the salvage yard to get it back.I also have to pay £100 excess which will leave me £700 and a potential £400 to £500 in parts if I strip them all.
The car was insured for £1500 with declared mods and I know I would struggle to find even a standard, clean and fully working S Special for £800 these days, so should I try to bump the price or just take their offer? In my mind, I was assuming I would be offered maybe £1100, haggle up to £1200 and I would then buy it back and sell the parts on.
Looking in the PH classifieds, out of all the cars listed, their offer puts my lovely Eunos in the bottom four or five cars.Is this just the way of things with insurance? I also wonder what will happen offer wise if I suggest they keep the car..
It just feels like the final insult.The first being that someone smashed my car up and is trying to blame me and now I find out it's not far off the price of a potential standard rusty example with a ripped roof, non working windows and lacquer peeling off.
The car was insured for £1500 with declared mods and I know I would struggle to find even a standard, clean and fully working S Special for £800 these days, so should I try to bump the price or just take their offer? In my mind, I was assuming I would be offered maybe £1100, haggle up to £1200 and I would then buy it back and sell the parts on.
Looking in the PH classifieds, out of all the cars listed, their offer puts my lovely Eunos in the bottom four or five cars.Is this just the way of things with insurance? I also wonder what will happen offer wise if I suggest they keep the car..
It just feels like the final insult.The first being that someone smashed my car up and is trying to blame me and now I find out it's not far off the price of a potential standard rusty example with a ripped roof, non working windows and lacquer peeling off.
Indeed.I am just thinking that If I were to say hit the magic £1000 mark or just over, I then have to pay out £240 anyway for excess and to keep the car.This puts me back to £760, only £60 more than the original offer.Do they base their offers on the fact I can make money by keeping the car? (I can call them and ask this I know, but it's late and they are closed 
I have friends saying "never accept the first offer" and others who have been in similar positions suggesting that if you send them links to other cars, they will just suggest they are overpriced and will comment that many are not sold etc etc.One friend even said I should "rip their arm off" for such an offer!
My biggest problem is that you can find numerous adverts for MX5's for well under a grand and some are quite tidy.I guess it depends what "like for like" means in the insurers eyes?
I have friends saying "never accept the first offer" and others who have been in similar positions suggesting that if you send them links to other cars, they will just suggest they are overpriced and will comment that many are not sold etc etc.One friend even said I should "rip their arm off" for such an offer!
My biggest problem is that you can find numerous adverts for MX5's for well under a grand and some are quite tidy.I guess it depends what "like for like" means in the insurers eyes?
Gassing Station | General Gassing | Top of Page | What's New | My Stuff