Toyota Yaris - Insurance payout: expected timeline

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Wed 19 Oct 2016 11:18
Toyota Yaris - Insurance payout: expected timeline - mikem004

Following my car being written off in an traffic incident, I have just received and accepted a verbal offer from the loss assessor.

What is the expected time line now? I have a courtesy car and still have to sort out a replacement car.

My understanding is that the insurance company posts out a cheque. I then have 4 days after this is banked before I have to return the rental car. That could give me at least a week to sort something out.

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Wed 19 Oct 2016 12:18
Toyota Yaris - Insurance payout: expected timeline - RobJP

Each insurance company will have its own policies and procedures. Whilst there may be a 'standard' time for how long you retain the hire car, the insurance company is under no obligation to follow that standard.

Your policy documents should give full details for your specific case. Failing which, contact the company directly.

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Wed 19 Oct 2016 15:46
Toyota Yaris - Insurance payout: expected timeline - Falkirk Bairn

In my experience you often get 1 week after cheque is sent. Not very long to source a 2nd hand car - if brand new car it can be an easier job - assuming you start shopping now & do not wait on the cheque arriving.

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Wed 19 Oct 2016 17:51
Toyota Yaris - Insurance payout: expected timeline - Chris M

Cheque? Unlikely with any insurance company that seeks every way it can to reduce costs. BACS don't get lost in the post and are cheaper than issuing cheques.

My son wrote his car off earlier this year. After he agreed the settlement figure, the monies appeared in his bank account a few days later.

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Wed 19 Oct 2016 22:10
Toyota Yaris - Insurance payout: expected timeline - Falkirk Bairn

My £7,000 3rd party claim came via a cheque -<£1K car damage, £4.2K damages for injury & £2K+ for my lawyer, Medical Consultant Reports (x3) & court costs. The cheque should have gone to the lawyer but was made out to me - just another error.

If they had admitted liability in the first few weeks I would have settled for the repair cost plus say £1,000 = £2,000 TOTAL but their insured denied liability despite 2 witnesses in another car who were also hit & claiming from the woman who hit me.

They sat it out for 2 years, almost to the day, & settled out of court @ 4pm on the eve of the court hearing.

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