Insurers re-valuing a total loss years after claim

[andye30m3]

A few years back my Clio 197 was hit up the back, bent the boot floor and declared as a total loss.

Insurers paid out, and I moved on until yesterday when I get a letter saying that they've re looked at the claim and feel they under valued the car at the time and will be sending a cheque for £500ish + interest.

The letter looks legitimate and has details of the claim number and car, otherwise I assume it was some sort of scam.

Apparently a cheque will arrive in the next two weeks.

Seams very strange to me, has anyone else had a similar thing happen?

[kiethton]

Not heard of letters but know that insurers were in some bother re this issue. Yours may have been identified.

[LF5335]

Direct Line by any chance?

https://www.theguardian.com/money/2023/jul/01/dire...

[andye30m3]

Yes it was direct line

To be fair to them I don't recall being all that upset by the settlement at all at the time, and the process was quick and efficient.

[Whataguy]

Yes, someone I know had a similar letter a few weeks ago.

They must be auditing their payouts, I've had letters myself when interest/etc wasn't calculated correctly many years ago and they have decided to now make a payment to correct things.

[akirk]

I think there is a certain amount of internal checking going on throughout the financial sector at the moment (a good thing!)
I received a cheque for £16.44 from Lloyds Bank for mortgage overpayment recently

bank it and enjoy it!

[98elise]

andye30m3 said:

Yes it was direct line

To be fair to them I don't recall being all that upset by the settlement at all at the time, and the process was quick and efficient.

Same here.

I had a write off with Direct Line a few years back and the settlement offer was fine by me. It's one of the reasons I stayed with them because I felt they handled the claim quickly and fairly.

They recently sent a cheque saying they undervalued it by £600!

[Sheepshanks]

akirk said:

I think there is a certain amount of internal checking going on throughout the financial sector at the moment (a good thing!)
I received a cheque for £16.44 from Lloyds Bank for mortgage overpayment recently

bank it and enjoy it!

We got an out-of-the-blue £200+ payment against our (late) cat's insurance the other day.

Just said they'd re-evaluated our final claim, but I don't recall it being paid short and think I'd have noticed £200.

[andye30m3]

Cheque arrived this morning, quite useful with my current cash flow

[PistonBroker]

https://www.theguardian.com/money/2023/jul/01/dire...