Following a "No Fault" accident (I have it in writing from the other insurers) my vehicle is an 'uneconomical repair' and my insurers are attempting to settle as a write off with what I consider a derisory offer.
I've written to them expressing the content of FAQ-48, offering a 'cash in Lieu settlement' and I'll keep the car and repair it myself.
My insurers are refusing to up the offer, despite my showing them that I cannot get an equivalent replacement for the money offered.
They say they 'dont do cash in lieu any more because of previous problems'
I feel that my insurers should be fighting my corner to get a settlement from the third party insurers, who have admitted liability in full, to re-instate me to the position I was in immediately prior to the accident.
Should my insurers be fighting my corner ?
Am I being reasonable in insisting that I be re-instated to my satisfaction ?
Any advice on the line to follow with my insurers ?
Many Thanks
Vehicle classification details removed - not really needed here
Edited by Pugugly {P} on 10/12/2007 at 17:49
|
|
If the other party have admitted liability, can you call your insurer off the case, and deal direct with the other ins co? I'm doing just that right now, as I'm only covered Third Party. My insurers are not involved at all, and Zurich, who cover the other driver, are being fine about it.
|
you are, as stated, entitled to be put back to the status you had before the crash.
Have you asked your insurers how they arrived at their valuation ?
Do you know what the market value of your car is ? I would guess that your insurance policy valued it at 'market value'.
However, your insurance company is just going to claim everything back off the other insurance co. so I don't understand why they're bickering.
I hope you've had a hire car (as part of the claim) since the accident and are refusing to release it until this is settled.
Is it too late to go to one of the claim chasing companies now ?
If you had legal cover, then I would ask them their advice.
As regards your question - do my insurers work for me? - I think you've found the answer is no.
|
Thank you both for your comments. If I don't get a satisfactory response soon I may look at negotiating directly, didn't realise that I could do that. I presume valuation is middle/bottom 'book', but almost impossible to find an equivalent e.g. low mileage, good condition, for anything close to what they are offering. e.g £850 v. £1500 !!
All costs including excess should be fully recoverable, that's why I'm surprised my insurers are giving me a hard time.
Spoken to legal expenses firm, they say it's nothing to do with them, but may put something in writing to them also.
Clearly my Insurers don't consider that they are working for me!
Regards
|
> Clearly my Insurers don't consider that they are working for me!
They are not. They are working for their shareholders. The insurance business model is very simple. Take as much as possible in premiums, and pay as little as possible in claims.
------
< Ulla>
Edited by Altea Ego on 10/12/2007 at 12:46
|
Given that the value is within the realms of the small claims court I would have thought that you had a reasonable line of attack.
I would be inclined to tell your insurers that your unhappy and will no longer require their assistance. Collect information copies of adverts etc for appropriate cars, present that to the other parties insurers. Inform them of what you expect as a reasonable payout and that as you are unable to purchase a replacement until they pay that you will be hiring a replacement (needs to be sensible) and claiming that cost. Then proceed to issue a claim in court against the other driver.
If you are currently in a hire car provided by your insurer than you may need to sort that out seperatly.
|
Inform them of what you expect as a reasonable payout and that as you are unable to purchase a replacement until they pay that you will be hiring a replacement (needs to be sensible) and claiming that cost. Then proceed to issue a claim in court against the other driver.
Why against the other driver, your argument for settlement is with the insurance company not the driver surely?
|
I could be wrong, but the damage was caused by the other driver. He/she may well have a contract with an insurance company which will pay out on his/her behalf, but I dont see the basis of a legal claim against them directly.
PU?
|
|
|
No you claim is against the driver. The insurance company were not driving the car. The insurance company just happen to insure the driver and act for him when he is presented with damages
------
< Ulla>
|
|
In the first instance it may make sense to contact the other driver's insurers. They may know nothing of the problems you are having. If they agree to deal direct, as I am with Zurich, then fine. They will probably wish to inspect and value the vehicle, but that's no guarantee that they will be more generous. They'll probably use the same (Glasses' based) pricing database as your own ins co., and so come up with a very similar price.
|
I could be wrong, ... , but I dont see the basis of a legal claim against them directly.
adverse camber - You are right in saying that "I could be wrong".
Negger, your claim is against the third party and their insurers.
www.opsi.gov.uk/si/si2002/20023061.htm
Since The European Communities (Rights against Insurers) Regulations 2002 came in to force, the third party that caused the damage and their insurer are jointly liable.
In summary:
If the third party & Insurer do not play ball, then you are left with claiming from your own Insurer.
Your recourse to your own insurer as first party is only to the degree that your Comprehensive Policy covers you. They will pay out accordingly, having deducted your excess. Your legal assistance cover should enable you to take proceedings to recover the excess from a guilty third party.
Finally, for the valuation, use forum search to read up previous threads containing the words: insurance ombudsman write off valuation
Edited by jbif on 10/12/2007 at 15:22
|
|
Many thanks for your various replies. I've written another stern letter to my insurers who have agreed to re-value the car, so I'll see what that comes out at before taking further action.
|
|
Can I ask how much they are offering and how much you think the car is worth ?
|
|
Thank you all for your input, just to update matters, after several stroppy letters & phone calls, the insurers have come up with a decent offer, almost double the original figure. I thought the car was worth about £1350, they initially offered me £895 and have now come up with £1590. I intend to snap their hands off! Regards to all.
|
I thought the car was worth about £1350 they initially offered me £895 andhave now come up with £1590. I intend to snap their hands off! Regards to all.
>>
Well done that man!
I suspect that part of the reason they decided to increase their offer substantially was to get you off their case as it were. The settlement figure (even in it's increased form) is not a huge sum of money and it is costing them money each time they have to respond to your requests. They have simply decided to cut their losses.
Just shows how being persistant often pays dividends and has clearly answered your original question.
Edited by csgmart on 12/01/2008 at 19:59
|
|
By insurance terms, that seems quite a quick settlement.
|
|
|
