Insurance write off

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Fri 13 Jan 2006 12:27
Insurance write off - pmh
A colleague has just had his car written off in accident which is indisputably the fault of the other driver. (A post office van, turning right across his path into a minor road).

My understanding is that his claim should be settled in such a way that he is no worse off after the event, ie the amount that should be paid should purchase from a trade source a similar vehicle with a similar history. The initial offer is very low and has been made by his own insurer (under his comprehensive cover). Should not his insurer be acting in his interest in recovering a suitable amount from the 3rd party. Or will it necessitate taking legal action against the 3rd party. Nobody was injured, so police were (unfortunately) not involved, as this would have provided independent supporting evidence.

The difficulty in assessing the value is that it is relatively rare vehicle (details follow) and is 11 years old. Getting evidence of similar vehicle from Autotrader has yet to throw up a similar vehicle in the local area. This makes it very difficult to provide documentary evidence of value.

Mercedes C 280 Sport N 1996 Auto 97 k 1 previous owner (known) full service history, Fully loaded with every conceivable extra inc Alloys, Full Leather, A/c Climate, Sunroof......

Any suggestions please......



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pmh (was peter)


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Fri 13 Jan 2006 12:31
Insurance write off - local yokel
So what is the offer?
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Fri 13 Jan 2006 12:36
Insurance write off - pmh
Sorry should have included, - £3k


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pmh (was peter)


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Fri 13 Jan 2006 12:41
Insurance write off - DrS
I have lost cars like this on a number of occasions, and it's pretty heartbreaking.
In my experience, it's still possible to argue with your own insurer to increase the offer (whatever they start at), but you will probably end up feeling short changed, as everybody believes that their car is worth more than commercial reality.
Also, you should reckon on losing the remainder of your insurance for the year, for which you will have to screw the Post Office, along with your claim for uninsured excess.
Still, it could have been worse: Could have been hit by an uninsured, Chelsea foreheaded man of straw.
Best Regards,
DrS
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Fri 13 Jan 2006 12:49
Insurance write off - Hamsafar
I wouldn't even involve my own insurer, I'd claim directly from the third party's and use my legal cover if I had it, which I have. (Motor Legal Cover is to reclaim uninsured losses etc.. it is a seperate policy to the main insurance but sold at the same time)
If not, you could just make your own claim, it will cover alternative transport and any other expenses incurred as a rusult of the third party's fault. If liability is disputed, it would be difficult though.
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Fri 13 Jan 2006 12:56
Insurance write off - DrS
True, but then you end up waiting for a year for your money, you still have to advise your own insurers, and you won't get any bigger payout at the end of it!
In any case, you will find that your insurance company has to give the nod to your legal cover insurer, and they won't normally do this until they have tried to sort the case themselves: Which, on this occasion, sounds quite straight forward?
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Fri 13 Jan 2006 12:59
Insurance write off - local yokel
Although it's a year younger, there's enough similarity in this to give you some help tinyurl.com/aevhb
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Fri 13 Jan 2006 13:30
Insurance write off - kennybase
One of my friends had his car written off by the insurers, but at the time he was selling it in the Autotrader. It too was quite a rare car, and the offer the insurance company were giving was significantly less than he was hoping to sell it for.
He wrote back stating that he felt that the car was worth more, and to prove it, he sent a copy of his ad (not saying it was his!) as proof as to what people were advertising them for.

Week later - cheque for asking price in the ad falls on the door mat! Job Done!
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Fri 13 Jan 2006 13:33
Insurance write off - pmh
ly

Thankyou for that one, I would swear it was not on that site yesterday! But that does seem a more realistic pricing. Depreciation at that age should be minimal? Condition must be all once this sort of car has reached 10 years.


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pmh (was peter)


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