Car insurance payouts

[Bozza]

Just received a settlement offer for my car that was nicked 4 weeks ago.

It's about 75% of the amount I'd need to buy a car of the same age, condition and specification.

Has anyone been in a similar situation and what did you do? I am currently compiling Auto Trader adverts to send to the insurers, given that the claims guy told me on the phone that the intention of the settlement figure was that we should be able to buy the same car again.

 

[Zeitgeist]

I recieved a cheque in the post yesterday after my car was written off just TEN days ago. Like yourself Darren, I was expecting to haggle with the insurers. HOWEVER, the offer I was made was near enough what I was looking for! That was Direct line. Credit where it is due, the service I have had over the last ten days has been nothing short of excellent. Not one single form to fill in!

Sadly, that is not usually the norm. It's a common fact many insurance assessors always throw in an under valuation first time. What have they to lose? The onus then falls on yourself to prove the valuation is incorrect. The best way to disprove their figure is to do exactly as you are doing. Pain in the arse sure, but 99% of the time, the offer will always be upped.

 

[Eddie the Seagull]

Bozza - I used to work for a high profile insurance company & they had a policy of always paying out if a customer quibbled/complained etc. about a settlement.

This was because they wanted to achieve 100% customer satisfaction etc. for their shareholders.

I would recommend the following:

Write a letter expressing your dissatisfaction/disappointment etc. & ask for the name of the insurance ombudsman so you can persue the matter.

The insurance company will probably shit themselves & pay out/come to a better settlement.

As Zeitgest has already said, keep your ads as evidence & be prepared to fight for more cash.

It is defo worth the cost of a stamp & one hour of your time.......

Good luck!

 

[CAFC Matt]

I saw an accident 3 weeks ago, put my name down as a witness and only this morning did the forms I fill in come. It is Direct line as well

 

[Icy Gull]

From my experience it's best to go through a good insurance broker, you pay a little more but a good one will do all the negotiating and get you a realistic payout.

 

[Dropkick Turnip]

I saw an accident 3 weeks ago, put my name down as a witness and only this morning did the forms I fill in come. It is Direct line as well

Are you on a mission to get up to 1000 posts by the end of the school holidays by posting in EVERY thread, regardless of whether you've got anything relevant or interesting to say, Matt?

 

[JJ McClure]

I was really lucky when my car was written off a couple of years back. My insurance company actually gave me a cheque for more than I'd paid for the car in the first place. Extremely rare I'm sure. As advised above, give 'em some grief and they ought to cave.

 

[Dropkick Turnip]

Good luck with it Bozza but don't get your hopes up. I was in a similar position about ten years ago and I also cut out Auto Trader adverts and sent them in with a nice covering letter. They wrote back telling me in the nicest possible way to off and accept their original offer as they had no intention of upping it. As far as I remember I did have another stab at it but they didn't budge. However, times have changed and the threat of taking your business elsewhere might do the trick if they knock you back in the first instance.

 

[Bozza]

We got a great deal on the car when we bought it a few months back. We thought worst case scenario was that we'd get back what we paid, but would really struggle to get the same again for that amount. To be offered nearly 2 grand less than we paid is insulting.

We use elephant.co.uk by the way.

 

[227 BHA]

My brand new car was written-off in April (just 800 miles on the clock). As it was only 2 weeks old Direct Line paid out the full amount (less my excess) i'd paid within 3 weeks so i ordered the same again.
The crash was totally not my fault and they are now pursuing the third party on my behalf for damages and injury claim. They have acknowledged liability so my excess has been refunded.
I guess I was lucky, cos I'm not a penny out of pocket and the whiplash injury was only minor discomfort (a nice week off work though!) and I stand to make a nice sum when they finalise the damages payout!

 

[brighton rock]

complain complain and complain again untill you get a settlement closer to what you exsept, i had to wright five letter before i got a good settlement from one of the top insurance company.when a car i brought burst into flames after a week,and the insurance company tried to pay £1000 less than i paid for the car after just one week.
got all the money in the end

 

[Bozza]

Just had an email from the insurer. They've upped their offer by £2,500 which means we will receive £1000 more than we paid for the car 4 months or so ago (we did get an incredibly good deal on it at the time though). The settlement figure is at the lower end of what you can pick the same car up for - but as it's the middle of a hot spell there is a premium on cabrios at the moment.

All in all, I'm delighted. The guy at Elephant has been incredibly helpful throughout this process - check 'em out when looking for insurance.


Happy (and relieved) of Somerset

 

[Yorkie]

Good work Bozza.

It just shows it pays to query any settlement

 

[zefarelly]

keep on keeping on . . .until you get the true value, or at least an agreed settlement, I had my car written off and I had agreed value on it as it was a classic, they offered low, I argued, they upped the offer, I accepted on the condition I could keep the car as well, We gathered bits and fixed it, and I bought another car with the rest of the money, If my brother would pay me for the car he's bought off me, Id be quids in now

 

[Curious Orange]

I'm about to write a letter to my insurance company as they've come back with a derisory offer for my car (and lower than their assessor told me over the phone), and I'm also complaining about their admin too - which is steadily getting worse. If I can convince them that the value of the car is a couple of hundred quid more they may actually fix it (just a dented door).

 

[Turkey]

Good job Bozza.