Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Settlement Offer on Stolen and Recovered car

  • 28-09-2009 11:55am
    #1
    Muppet Man
    Registered Users, Registered Users 2 Posts: 1,674 ✭✭✭


    Hi Folks, Need some advice on the following scenario:

    * My Car was stolen outside my house (VW Golf Gti).
    * Settlement offer from insurance company of 24k.
    * Car was recovered by Gardai (well done lads) the day after I received the settlement offer.
    * Damage repair to the car is estimated to be in the region of 5.5k euro (according to VW).
    * I am not inclined to accept a stolen and repaired car at this point in time and now want to accept the settlement.

    Two questions -
    1) Am I still entitled to accept the original settlement offer - there was no expiry date on it - or do I HAVE to take the car with repairs?
    2) Can the insurance retract the original settlement offer and make a smaller settlement offer. If so, what recourse do I have (Ombudsman?)

    Settlement offer was made on Aug 5th. It took a long time to get the car back from Gardai and get a damage repair estimate from VW.

    Thanks in advance for any advice at all on either of the 2 questions.
    Muppet Man.


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    The original settlement offer would have been on the basis of the vehicle not being recovered.

    Its hardly likely that the Insurance Co. will still pay €24k and leave you with an asset with a value of €18k!!

    They are also not likely to pay you €24k for an asset only worth €18k (assuming they take the car)

    ...and they are hardly likely to want to take the car when the 2nd hand market is so bad...

    I'm sure you will find something in the Ts and Cs that will enable them to reduce the offer to €5.5k - its not as if this has never happened before


  • #3
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    I agree with the above. The scenario is about abandoning the subject matter of the policy, which you cannot do. You are entitled to the reasonable repair costs to the car, nothing more I'm afraid.


Advertisement