Insurance claim question - Help ASAP!

Moe7

Hi Guys,

My car was deemed a write off in a recent accident, my insurance company have come back to me with a crap offer well under market value, and they won't let me speak to the engineer to dispute, i have to write in an email citing examples which i have. They also said a salvage company has offered 950 to take the vehicle, and that i should contact them quick as i would be looking at storage charges if it stayed in the garage.

Is this a standard price on salvage, should i just accept it or do i call around (wouldn't know where to start), can i haggle with the salvage man who probably knows how limited my options are?

the last thing i want to do is make this situation any worse by incurring ****loads of storage costs

Need to make a decision soon as time is literally money in the situation, any advice would be appreciated.

Regards,

Moe

Hobart

I would sugest a couple of things:

1) Don't argue over the salvage, as you will on talking in the 10's of Euro for a better price, and yes, the storage costs will be exorbitant.
2) Read the full terms of your insurance policy, and make sure you know where you stand when it comes to situations like this.
3) Just have a quick search on somewhere like Carzone, for similar cars like yours, age/condition/mileage etc.. and email the examples to the insurance company.
4) If you feel that you are still being unfairly treated, go to the Financial Services Ombudsman, and make a complaint. Inform the Insurance company that you are reserving this right.

This is fairly common place in the insurance industry btw.

RGS

Get your own motor assessor to examine the vehicle and provide you with his valaution.

Dont be surprised if his figure is close to the insurance assessors valuation.

The second hand car market is in the doldrums at present and caluations for all cars are reduced.

Moe7

RGS wrote: »

The second hand car market is in the doldrums at present and caluations for all cars are reduced.

Good point, why though when looking at carzone are all the prices exactly the same as a year or two again, everything is overpriced, thats whats getting to me, i dont care how much these people give me as long as it will be in the region of a similar replacement

galwaytt

go to revenue site, and put in the same info as your car and see what OMSP they throw out - if it's higher than you're being offered, print it out and include that in your ammo bag.

RGS

Most insurers will ignore the revenue valuations--these are solely there to calculate the VRT on imported vehicles and imo are inflated to obtain a higher VRT--also i believe SIMI have an imput in the valuations and they would like to see the highest possible valuation to discourage car buyers going to the UK for a vehicle.

A motor assessor valuation would be better ammo to the insurer.

cloneslad

my girlfriend's parent's car was a write off and they too thought the insurers valuation was wll below market price. They ended up getting the insurers to purchase a a car for them from the potential cars the insurers offered them.

If you are not worried about the money, but only about getting another car of equal value then I would suggest asking the insurers to replace your car instead of getting their perceived monetary value of it.

Seth Brundle

RGS wrote: »

Most insurers will ignore the revenue valuations--these are solely there to calculate the VRT on imported vehicles and imo are inflated to obtain a higher VRT--also i believe SIMI have an imput in the valuations and they would like to see the highest possible valuation to discourage car buyers going to the UK for a vehicle.

Its still an 'official' valuation and cannot therefore be argues against should it suit the OP!

RGS wrote: »

A motor assessor valuation would be better ammo to the insurer.

That costs money!

RGS

kbannon wrote: »

Its still an 'official' valuation and cannot therefore be argues against should it suit the OP!

Its not an "official" valuation--its a tool to calculate revenue due on imported vehicles. In that case should the car dealers use these "valuations" when selling 2nd hand cars--would the public accept the state through the revenue setting the price for 2nd hand cars?

Using these valations would push up the price of 2nd hand cars.

Secondly the courts of ireland will listen to the advise of a motor assessor quicker that a revenue officer on damaged car values.

Seth Brundle

When negotiating wiht the insurance company having a printout from the revenue saying that in their opinion xyz car is worth whatever amount will be helpful. The reality is that the revenue site's rates are over inflated but that under the current situation suits the OP and is much better than an advert on carzone!

Seth Brundle

Oh and the revenue site states:

This system provides the Open Market Selling Price (OMSP) for VRT purposes and the amount of VRT payable in respect of certain vehicles that are held on the Revenue Commissioners database.

arthie no no

what could you buy for 950 to replace your own car explain that to your insurance company

dudara

When my car was written off, the engineer came back with a value pretty quickly. It wasn't a bad value, but I went one round with him and got E200 more plus I got the car for salvage. I also got the other insurance company to cover storage costs.

Thing is though, their client was 100% liable for the accident, and I could have looked for a lot in personal injury. I think that they were glad to settle with me on decent terms.

Profiler

Moe7 wrote: »

Hi Guys,

My car was deemed a write off in a recent accident, my insurance company have come back to me with a crap offer well under market value, and they won't let me speak to the engineer to dispute, i have to write in an email citing examples which i have. They also said a salvage company has offered 950 to take the vehicle, and that i should contact them quick as i would be looking at storage charges if it stayed in the garage.

Is this a standard price on salvage, should i just accept it or do i call around (wouldn't know where to start), can i haggle with the salvage man who probably knows how limited my options are?

the last thing i want to do is make this situation any worse by incurring ****loads of storage costs

Need to make a decision soon as time is literally money in the situation, any advice would be appreciated.

Regards,

Moe

Turn it around on them, ask them to provide examples of cars which supports their valuation. If they can prove you can replace like for like then you should be happy.

Once you have got the offer on the pre accident value then you have a biy of wiggle room on storage charges.

As mentioned above by Hobart check if they are covered under your policy, if they are again try and turn it back on them.

Tell them that any delay has been incurred as a consequence of them not offering enough or not providing you with backup to the offer made.

Barr

What are the car details and the price your being offered ?