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repair costs of an accident

  • 08-03-2009 1:57pm
    #1
    swedkg
    Closed Accounts Posts: 3 ✭


    Hi all,

    I was involved in an accident 2 weeks ago, the other party accepted full liability.
    My bike was towed to the dealership to take care of the repairs, and the estimate cost (13K+) was over the value of a brand new bike (11K).
    The insurance of the other driver told me that they will right off the vehicle and that they will pay me 7k, which i did not accept.

    I'm just wondering which is the best way to handle this situation.

    Thanks in advance for your replies.

    PS: I'm not looking for legal advice, I just want to ask whether going to a solicitor is my only option


Comments

  • #2
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    First thing you need to do is get yourself a realistic price of what your bike was worth pre accident and use this for bargaining with the insurance company. Usually the initial offer has about a 10-20% leverage that they will give to you without too much hassle at all. You need to look at how much it will cost you to get a replacement bike, in the current market if you shop around you might even have a couple of quid left over for yourself out of the crash.

    How old was your bike?


  • #3
    swedkg
    Closed Accounts Posts: 3 ✭swedkg


    Hi Tipsy Mac,

    thanks for your reply. The bike (Honda VFR800A) was bought brand new 2 years ago, but was not used for the last 1.5 years. On the day of the accident, it had 6-7K kilometres on it.


  • #4
    Tipsy Mac
    Closed Accounts Posts: 2,559 ✭✭✭Tipsy Mac


    I am afraid they will just look at it as an average priced 2007 bike and that's the price they will be working at for their offering. Best gather as much prices of similar bikes as you can and have this ready to argue the price with them.


  • #5
    swedkg
    Closed Accounts Posts: 3 ✭swedkg


    thanks again Tipsy Mac,

    I had a quick browse around the Internet, it seems a tad difficult to trace 2007 models with very low millage.

    So, apart from accepting a better offer, there is not much i could do.


  • #6
    galwaytt
    Registered Users, Registered Users 2 Posts: 12,822 ✭✭✭✭galwaytt


    ...you should be looking at replacement with a bike of the same age/condition/mileage, irrespective of value. If you find one for 7k, that's what you need - if you can't, and can only find one for 10k, that's the amount you need.

    Take teeh replacement values to the insurer - if they don't go for that, go to a solicitor. Now, check your own insurance - you may have legal cover included, so to use their legal service won't cost you anything.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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  • #7
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,852 Mod ✭✭✭✭Henry Ford III


    Call a loss assessor to fight the case for you.


  • #8
    Cammy86
    Closed Accounts Posts: 48 ✭Cammy86


    Personally from my experiences I would price around your same vehicle with similar mileage for sale and send this to the insurance company. Insurance companies want to offer you as little to limit how much they spend. They make millions. Hold on for a better offer this is normally the third or forth offer after you have sent evidence of vehicle going for more money. Look around the UK markets to, to try and find a vehicle similar. Don't take silly money for your vehicle you want the true value for your vehicle and you deserve this and its there negligence causing this damage.


  • #9
    Cuddlesworth
    Registered Users, Registered Users 2 Posts: 14,012 ✭✭✭✭Cuddlesworth


    Henry Ford III wrote: »
    Call a loss assessor to fight the case for you.

    Do this. The second a proper loss assessor gets onto the insurance agent you will get top dollar. They just give up. Even after he gets paid you will still come out much better,


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