Insurance write-off, valuation?

[andy 0]

My sister has just had her car written off, I've looked up the car's value on Parkers/Autotrader etc. Their valuations give several prices, ie Main Dealer, Independant Dealer, Private, Private Poor and Trade. Which one of these would an insurance company base its offer on?

[chrishill 0]

they'll try and do it on the Glass's Guide (spelling?) valuation, which is what you'd get part-ex at a dealers pretty much. Argue the toss, they should compensate you with the sum it would take to replace the car with one of equal condition, milage and options, basically... how much it'd cost you to buy an identical car. Get some autotrader evidence together of cars the same age and so on, then lay it on heavy about the car being your sisters pride and joy.

[Henny 0]

:iamwithstupid: 8)

 

NEVER accept the first offer the insurance company gives you... this is the "Ah, we've got a customer who doesn't know how the system works" offer which will be the lowest they think Joe Public would take for their car... Get evidence that shows how much similar cars are selling for, and any receipts you have for any work that's been done on the car and send 'em a letter telling 'em you want more than the first offer... 8)

[andy 0]

I know not to take the first offer, quite often its three offers etc etc. What is confusing the issue is whether the valuation is based on what it will cost her to buy another one privately or another one off a dealer's forecourt. The difference is about a grand, which in this case is approaching 25% of the car's value so pretty important! It seems wrong to accept trade price, as not being a trader she won't be able to buy another one of the same age/spec/condition etc for the same money, on the other hand it would seem fruitless to insist on dealer forecourt price if there's no chance if them paying that. hmmm

[H8RRA 0]

get the highest price examples from autotrader and dealer websites - more than you'd expect to get - and submit that to the insurance company after they've gave you a ridiculous offer.

 

i would also include a covering letter and ask them to buy the replacement car for said money if they can get trade prices as you will not and you've provided real world punter prices

 

they may think you're taking the p1ss but will realise your expectations are high and they can't pull a fast one on you

[chrishill 0]

its all in the wording of your (or her) policy. Mine says I'll be compensated to the 'market value' of the car, what market value means is open to interpretation really, i would argue that the forecourt price is market value, since your sister is quite fussy about where she buys her cars from *cough* isnt she.

 

Honestly, if they're up for (for example) £10k on the forecourts and £9k private, I'd aim high and ask for forecourt price and let them knock you down from there.

[steve_16v 0]

Like everyone has said above research what similar cars are going for on the autotrader and try and get as much as possible, about 6 months ago I wrote off my Toledo 2.0 16v and the bloke who called offered about £1500 for it, but after some persuasion I got him to agree to £2250. Not bad considering I only paid £1000 for it! :)

 

NEVER EVER accept their first offer.