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paulfoel
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 Posted: Mon Jul 14, 2008 12:46 pm Post subject: Car insurance - written-off - offer from insurer to settle? |
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Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it? |
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goodolpete
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| Posted: Mon Jul 14, 2008 1:34 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Jul 14, 2:25 pm, "Mrcheerful" <nbk...@hotmail.com> wrote:
| Quote: |
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can show
that you need more to put yourself in the same position then they should pay
it. Usually the first offer is a try it on low amount, many people take it,
ins. co. is better off.
|
Go to the daily telegraph site.
Click on "Motoring" tab
Click on Honest John link
click on latest link at the top for 11th or 12th July.
About one third of the way down, read one guys way of dealing with
isurance companies
after a van drove into the side of his wifes car. |
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paulfoel
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| Posted: Mon Jul 14, 2008 3:45 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Jul 14, 2:25 pm, "Mrcheerful" <nbk...@hotmail.com> wrote:
| Quote: |
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can show
that you need more to put yourself in the same position then they should pay
it. Usually the first offer is a try it on low amount, many people take it,
ins. co. is better off.
|
to be honest, their first offer isnt that bad just not great.... |
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Mrcheerful
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| Posted: Mon Jul 14, 2008 6:25 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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paulfoel wrote:
| Quote: |
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
|
show them present adverts for a similar condition vehicle, if you can show
that you need more to put yourself in the same position then they should pay
it. Usually the first offer is a try it on low amount, many people take it,
ins. co. is better off. |
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nully
Guest
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| Posted: Mon Jul 14, 2008 8:37 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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"goodolpete" <siramictiles@yahoo.com> wrote in message
news:06d8f893-a667-4c15-8214-58bbe8955b22@y21g2000hsf.googlegroups.com...
On Jul 14, 2:25 pm, "Mrcheerful" <nbk...@hotmail.com> wrote:
| Quote: |
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can show
that you need more to put yourself in the same position then they should
pay
it. Usually the first offer is a try it on low amount, many people take
it,
ins. co. is better off.
|
Go to the daily telegraph site.
Click on "Motoring" tab
Click on Honest John link
click on latest link at the top for 11th or 12th July.
About one third of the way down, read one guys way of dealing with
isurance companies
after a van drove into the side of his wifes car.
Hmmm. That's quite a fascinating tale, but I admit it confuses me a bit. It
looks as though the insurer eventually paid just because he was a pain in
the arse and it was easier, rather than that he had a genuine actionable
grievance. After all, your insurer agrees to indemnify you in respect of
such matters, and unless I'm looking at it wrong then surely all the van
company had to do was sit back and say that his insurer is in control of it,
so you'll have to deal with them? Like all insurers, they just say that the
value of your vehicle is X, and thats all you're gonna get. |
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Paper Aeroplanes
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| Posted: Mon Jul 14, 2008 8:46 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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nully wrote:
| Quote: |
all the van
company had to do was sit back and say that his insurer is in control of it,
so you'll have to deal with them?
|
Why? The driver is the one to sue. If he passes the bill onto his
insurers that is between him and them. |
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Gaz
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| Posted: Mon Jul 14, 2008 10:56 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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Mrcheerful wrote:
| Quote: |
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
|
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Gaz |
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paulfoel
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| Posted: Tue Jul 15, 2008 9:08 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Jul 14, 6:56 pm, "Gaz" <gaz...@msn.com> wrote:
| Quote: |
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Gaz
|
I still have the receipt showing the purchase price of the vehicle
from 2 months ago.
Its doubtful that I'd find the same vehicle to compare with at the
dealer though. It was a used Fiat Punto bought from a Ford dealer.
What sort of figure would you put on 2 months wear and tear? |
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paulfoel
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| Posted: Tue Jul 15, 2008 9:08 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Jul 15, 8:04 am, Alan Ferris <hairy.fer...@yahoo.co.uk> wrote:
| Quote: |
On Mon, 14 Jul 2008 18:56:13 +0100, "Gaz" <gaz...@msn.com> wrote:
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Depreciation on a new car is very large. Therefore after 2 months it
is likely that the offer of "a fair bit less" that what he paid for it
is correct.
--
Alan "Ferrit" Ferris
()'.'.'()
( (T) )
( ) . ( )
(")_(")- Hide quoted text -
- Show quoted text -
|
Used car. In fact, its 7 years old. |
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Martin
Guest
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| Posted: Tue Jul 15, 2008 11:01 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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"paulfoel" <BertieBigBollox@gmail.com> wrote in message
news:d2521a5b-f257-4fcb-ad63-bc2cf9e27007@34g2000hsh.googlegroups.com...
On Jul 14, 6:56 pm, "Gaz" <gaz...@msn.com> wrote:
| Quote: |
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Gaz
|
I still have the receipt showing the purchase price of the vehicle
from 2 months ago.
Its doubtful that I'd find the same vehicle to compare with at the
dealer though. It was a used Fiat Punto bought from a Ford dealer.
What sort of figure would you put on 2 months wear and tear?
---------------
I reckon it'll be losing a good 30% pa at that age (unless you got a real
bargain), so 2/12ths of 30% of whatever you paid for it would seem
reasonable.
--
Martin |
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Alan Ferris
Guest
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| Posted: Tue Jul 15, 2008 11:01 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Mon, 14 Jul 2008 18:56:13 +0100, "Gaz" <gazter@msn.com> wrote:
| Quote: |
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
|
Depreciation on a new car is very large. Therefore after 2 months it
is likely that the offer of "a fair bit less" that what he paid for it
is correct.
--
Alan "Ferrit" Ferris
()'.'.'()
( (T) )
( ) . ( )
(")_(") |
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Paul Harris
Guest
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| Posted: Tue Jul 15, 2008 11:01 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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In message <utio74troji0t04k8t4f4jihuvglqstkq2@4ax.com>, Alan Ferris
<hairy.ferrit@yahoo.co.uk> writes
| Quote: |
On Mon, 14 Jul 2008 18:56:13 +0100, "Gaz" <gazter@msn.com> wrote:
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Depreciation on a new car is very large. Therefore after 2 months it
is likely that the offer of "a fair bit less" that what he paid for it
is correct.
Except that the car is not being sold it is being replaced on a like for |
like basis so the payment should be sufficient to purchase a similar
vehicle of similar age.
--
Paul Harris |
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paulfoel
Guest
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| Posted: Tue Jul 15, 2008 11:33 am Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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On Jul 15, 10:57 am, "Martin" <n...@barrier.ngngng.fsnet.co.uk> wrote:
| Quote: |
"paulfoel" <BertieBigBol...@gmail.com> wrote in message
news:d2521a5b-f257-4fcb-ad63-bc2cf9e27007@34g2000hsh.googlegroups.com...
On Jul 14, 6:56 pm, "Gaz" <gaz...@msn.com> wrote:
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you can
show that you need more to put yourself in the same position then
they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close as you
can to the vehicle you got, and insist that is what they pay (minus two
months wear and tear). They are supposed to put you back in the position
before the accident.
Gaz
I still have the receipt showing the purchase price of the vehicle
from 2 months ago.
Its doubtful that I'd find the same vehicle to compare with at the
dealer though. It was a used Fiat Punto bought from a Ford dealer.
What sort of figure would you put on 2 months wear and tear?
---------------
I reckon it'll be losing a good 30% pa at that age (unless you got a real
bargain), so 2/12ths of 30% of whatever you paid for it would seem
reasonable.
--
Martin- Hide quoted text -
- Show quoted text -
|
OK. So 30% of £3000 is £900 x 2/12 = £150.
30% pa seems a bit high. OK, so you're saying a car costing £3000
would be worth about £2100 after one year, £1470 after 2, £1020ish
after 3 etc.
Not sure if £900 depreciation in a year is a bit much. I was thinking
more of £500-£600. |
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Tiddy Ogg
Guest
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| Posted: Tue Jul 15, 2008 5:10 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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| Quote: |
On Jul 14, 2:25 pm, "Mrcheerful" <nbk...@hotmail.com> wrote:
paulfoel wrote:
show them present adverts for a similar condition vehicle, if you can show
that you need more to put yourself in the same position then they should pay
it. Usually the first offer is a try it on low amount, many people take it,
ins. co. is better off.
to be honest, their first offer isnt that bad just not great....
It worked for my wife. Don't thinkt they improved the offer much, but |
it was a bit.
Tiddy Ogg.
http://www.tiddyogg.co.uk |
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Gaz
Guest
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| Posted: Tue Jul 15, 2008 6:17 pm Post subject: Re: Car insurance - written-off - offer from insurer to sett |
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Martin wrote:
| Quote: |
"paulfoel" <BertieBigBollox@gmail.com> wrote in message
news:d2521a5b-f257-4fcb-ad63-bc2cf9e27007@34g2000hsh.googlegroups.com...
On Jul 14, 6:56 pm, "Gaz" <gaz...@msn.com> wrote:
Mrcheerful wrote:
paulfoel wrote:
Unfortunately, was involved in an accident and my vehicle has been
deemed a total loss by the insurance company.
I've only had the car two months and the insurance company have
offered a fair bit less in settlement than I paid for it.
What happens now? Can I insist that the insurance company improve
their offer? Or is it a case of like it or lump it?
show them present adverts for a similar condition vehicle, if you
can show that you need more to put yourself in the same position
then they should pay it. Usually the first offer is a try it on low
amount, many people take it, ins. co. is better off.
If you bought it from a dealer, go to the dealer, and find as close
as you can to the vehicle you got, and insist that is what they pay
(minus two months wear and tear). They are supposed to put you back
in the position before the accident.
Gaz
I still have the receipt showing the purchase price of the vehicle
from 2 months ago.
Its doubtful that I'd find the same vehicle to compare with at the
dealer though. It was a used Fiat Punto bought from a Ford dealer.
What sort of figure would you put on 2 months wear and tear?
---------------
I reckon it'll be losing a good 30% pa at that age (unless you got a
real bargain), so 2/12ths of 30% of whatever you paid for it would
seem reasonable.
|
And remember, the dealer price is higher because it incorporates some sort
of warranty built in, make sure the insurance company take this into
account.
Gaz |
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