insurance write off questions
Discussion
2 months ago some nice lady drove into the side of me. The only good thing was that she did get out and say it was her fault ( and say the same to her insurence ).
My car is a cat C, and I have bought the salvage and am repairing it myself. I understand that I have to get it inspected on completeion of the repairs. How do I go about organising this? Also, since the accident, the MOT has expired. Do I get it MOT'd first, or do this inspection first?
Second question is to do with the money! Her insurers have offered me £600 ( about 20% ) less than I beleive it was worth before the accident. I have written back including copies of adverts for similar cars for sale at higher prices, stating that their valuation should reflect what it would cost me to go out and buy a similar car, so I am no better or worse off than before their client hit me. They have replied saying they only have to compensate me for the glasses guide trade in value, as that is what I would get if I traded it in, and that is their final offer. If I were to take this further ( small claims court? ) is it likely that they would back down, or how would the judge see this is, or am I wasting my time? I have spoken to the insurence company on the phone several times, and there have been several letters back and forard allready, and there is no indication that they will budge on this.
Any advise or comments appreciated.
My car is a cat C, and I have bought the salvage and am repairing it myself. I understand that I have to get it inspected on completeion of the repairs. How do I go about organising this? Also, since the accident, the MOT has expired. Do I get it MOT'd first, or do this inspection first?
Second question is to do with the money! Her insurers have offered me £600 ( about 20% ) less than I beleive it was worth before the accident. I have written back including copies of adverts for similar cars for sale at higher prices, stating that their valuation should reflect what it would cost me to go out and buy a similar car, so I am no better or worse off than before their client hit me. They have replied saying they only have to compensate me for the glasses guide trade in value, as that is what I would get if I traded it in, and that is their final offer. If I were to take this further ( small claims court? ) is it likely that they would back down, or how would the judge see this is, or am I wasting my time? I have spoken to the insurence company on the phone several times, and there have been several letters back and forard allready, and there is no indication that they will budge on this.
Any advise or comments appreciated.
VOSA or DVLA websites have helpline numbers and they are really quite helpful.
Before I bought my car, the previous owner had been involved in an accident and the 3rd parties insurance had paid him the value of the car and let him keep the car, but he assumed it was a write off. I phoned vosa and they confirmed it was not catagorised at all.
Before I bought my car, the previous owner had been involved in an accident and the 3rd parties insurance had paid him the value of the car and let him keep the car, but he assumed it was a write off. I phoned vosa and they confirmed it was not catagorised at all.
BIG DUNC said:
They have replied saying they only have to compensate me for the glasses guide trade in value, as that is what I would get if I traded it in, and that is their final offer.
You are entitle to the fair market value of your car, on the basis that you should be able to replace it with one of a simmilar age and condition. Glasses Guide, is just that, a guide and does not always accurately represent prices accross the country. Stick to your guns, provide as much proof that they are undervaluing the vehicle as possible, (e.g. if your car had full service history this would tend to increase it's value). If they refuse to increase the payout and you genuinely feel it is too low, you can raise a dispute with the Financial Ombudsman Service.BIG DUNC said:
...They have replied saying they only have to compensate me for the glasses guide trade in value, as that is what I would get if I traded it in, and that is their final offer....
Rubbish!You arnt trading your car in, didnt trade your car in, and never wanted to trade your car in, so why should you be forced to only receive a trade in value!?
... or is is just co-incidental that this is the *lowest* value they could find to pay out!!??
There is nothing in law which says that they have to use Glasses guide or the trade in value. As you have correctly stated you should be recompensed so that the accident has cost you nothing.
They have a whole department which is there just to minimse payouts so by default they will undervalue and play hardball. Its their job. However, if you are willing to go to small claims, not only wil they have to pay your costs, they will have to spend a few hundred quid in their own costs, so they wont. Play hardball back, and if necessary, up the stakes to putting a figure YOU want and if you dont receive a cheque for that value in 14 days you will pursue immediate action.
It is also worth remembering that it is actually the lady who crashed into you who is the 'other party'. It is only because she has insurance they they agree to pay for your costs *on her behalf*. If the insurance doesnt pay, then you can chase her - and they she can put pressure on her insurance company herself!
Remember also, that after you have told them the value you place on it, and supported this with prices from Autotrader, etc, you must tell them that you wish and demand to receive that amount within 14 days from the date of the letter and that bif this is not received you will be proceeding straight to the small claims court and will be adding interest at 4% over Barclkays Base rate compounded onm a daily basis.
You will be paid immediately one might imagine!
You will be paid immediately one might imagine!
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