I got unfortunate last week - my wife wrote my car off - she's OK though :-).
Looks like I'll be having a conversation with Direct Line on Monday to agree a value - I'm looking for some pointers and help, as I've not been in this position before and don't want to feel (or get) ripped off!
If anyone could help answer these questions I'd be much obliged:
1) will I get offered trade value only?
2) will I be able to negotiate this (part way?) to the cost to replace?
3) if I'm really not happy with the offer, where can I take it further?
4) The car is (was) a Nissan Primera 1999/V 47,00 miles 1600 Si, grey metallic, all standard fittings, fsh, very nice condition (before the crash!) - what can I expect to be offered and what should I be really looking at as a replacement value, and what do folks think I'm likely to get?
I know it's a lot of questions, and any answers I get will be much appreciated!
Seasons greetings to one and all,
Hazychris
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I'm sure you'll get some good advice on here from those who know the trade well.
My advice is not to accept the first offer from them, they'll usually negociate up a bit. Back up what you claim for replacement value with adverts from autotrader etc.
Good luck.
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My recent experience with a 3rd party claim (I was hit from the rear) was that my solicitors appointed an assessor who inspected the car for pre accident condition and agreed a value with me.
This was then put forward for settlement. The value was paid in full.
The insurers may do this, or they may go the old fasioned route as you describe.
Assuming that your wife was to blame for the accident, any settlement will probably be agreed value minus your excess. If the accident was not her fault, you will be able, in the fullness of time to recover this from the third party, together with a claim for injuries (wiplash or similar, which she'll feel a couple of days later if she's affected).
Right, with that out of the way:-
To prepare for these negotiations, you should contact your Main Dealer and ask how much you would be looking topay for a replacement vehicle the same year, spec and mileage as yours. Remember, you will have to go out and buy it so they will have to pay you what it would cost for you to replace it minus of cours that dreaded excess. Trade or auction prices should not apply to Joe Public. Retail is what you will pay.
Also look in the papers, auto trader etc for cers of similar spec. My guess is that the first offer will not be acceptable to yourself. You then should present the more expensive examples to counter any arguements that they may have. They may point out 'blemishes' on your car. As a friend of mine said to one insurance company - "They aren't scratches, they're memories".
If you feel that the final agreed value will allow you to replace your car with the same. I would stop there. However, I believe there are procedures you can apply in the event of a deadlock. Someone else may be able to advise you from this point on.
Good Luck!
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My wife recently wrote her corrolla off - we lost £400 from what we paid 6 months ago but we did buy the car from a toyota dealer (overpriced etc). We were reasonably happy with this as we expected to lose a lot more. Insurance is with Sainsbury's bank who have been quick to sort out. We had only been insured with them for 4 days when the car got wrote off!
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Thanks for the replies so far - if anyone else has comments to add, please do!!
This may be of use, but there's a web page produced by the insurance ombudsman on the subject: www.theiob.org.uk/digest/v/valuation_of_motor_vehi...l
Best wishes to all,
Chris
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My policy with Elephant states I would get the replacement value from whatever source I bought the car. It is likely they would only pay the auction value if that's where I had bought the car from. As I bought my car from a main dealer, if I had a total loss I would look for dealer prices (in London, to maximise the amount I would get back).
I would definitely agree with the others to look at main dealer replacement values for this age of car and to push for a higher settlement. The first offer will be low since they expect many people, but importantly for them not all, to ask for more.
James
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