Car stolen. Insurance query

cargotstolen

My Car got stolen and my problem with the insurance assessor is as follows.

1.
I bought a car last year from a very reliable person. I paid him the full going rate. As the car was in mint condition and well looked after. Also if I had any problems within 6 mounts.He agreed to repair them.I would have bought from a garage if I was not recommended this car / seller by a very close friend.

The insurance assessor told myself I have to find a like for like from a private seller. Is this how insurance works???????????????

2.
I had put the car through the nct just before it was stolen. it failed on a very minor issue and I had to return it for inspection. However I never got the chance to return to the nct as the car was stolen. I have this document to prove it was only a minor fault. However the assessor says he is deducting 10% from the private seller price over this. Is this the how insurance works?????????????

I would appreciate anybodys advice with experience or knowledge in this field.

Thanks
lorraine

fasttalkerchat

Keep pushing them on it. If your NCT hadn't expires it makes no difference to the value of the car. If you can't find a very similar car from another private sale keep at them.

cargotstolen

I can find similar but they are from a garage. But assessor says it has to be a private seller.

But who will guarantee the car from the private seller? am i entitled to similar from a garage

fasttalkerchat

cargotstolen wrote: »

I can find similar but they are from a garage. But assessor says it has to be a private seller.

But who will guarantee the car from the private seller? am i entitled to similar from a garage

The private seller didn't "guarantee" your car. He made a claim that he would stand over it but that isn't a legal warranty so is valued at zero.

What was the car valued at when you took out your policy and what is the garage asking for?

cargotstolen

The value of the car was 5000. The garage is asking for 4000 now

Gurgle

cargotstolen wrote: »

Is this how insurance works???????????????

When you make a claim, the insurance company will pay the book value of the vehicle. You didn't mention this anywhere in your post, have they not made you any offer?

Or are you looking for more than they say its worth?
If this is the case, I doubt you'll get anywhere.

You may have decided at the time that it was worth paying more because the car was 'mint', but I don't see how you're going to prove it to them.

fasttalkerchat

cargotstolen wrote: »

The value of the car was 5000. The garage is asking for 4000 now

I can't see the insurance company turning that down. Send them a few donedeal and gumtree links for the car at around that price too.

cargotstolen

they offered 2500 less the 10% deduction. The value of private sellers is approx 3k and from garage 4-4.5k

fasttalkerchat

cargotstolen wrote: »

they offered 2500 less the 10% deduction. The value of private sellers is approx 3k and from garage 4-4.5k

What car is it?

cargotstolen

its a 2003 hyundai lantra 1.6.

What is the book value?????????

fasttalkerchat

Ah, somewhere between 2500 and 3000 would be the right price. Can't see them going past 3k. If you find a top notch private sale at 3k I would dig in the heels at that.

You must have bought the car for 5k a few years ago and the insurance company take depreciation into account so they will only pay their book price unless you can prove that their price is wrong based on selling prices from donedeal autotrader etc.
EDT: Just read again that you bought last year. You overpayed then and the insurance company won't take that into account.

but43r

You are saying that you bought the car last year and got 6 month guarantee with it which is expired by now (so you should be looking at cars with no guarantee e.g. private sale).

cargotstolen

but43r wrote: »

You are saying that you bought the car last year and got 6 month guarantee with it which is expired by now (so you should be looking at cars with no guarantee e.g. private sale).

why should i be looking for a car with no guarantee. When the one I had (which i had insured) was running well without any problems. If I get another of a private seller I dont have the same peace of mind.

bazz26

No offence OP but if you paid €5k for 03 Elantra 6 months ago, then you paid too much for it imo. A 9 year old Lantra is certainly not worth anywhere near €4k now either.

Looking at dondeal.ie there are three 2003 Elantras there for under €2k. Based on that then being offered €2500 sounds reasonable:
http://cars.donedeal.ie/find/cars/for-sale/Ireland/2003%20Hyundai%20Elantra?source=all

but43r

cargotstolen wrote: »

why should i be looking for a car with no guarantee. When the one I had (which i had insured) was running well without any problems. If I get another of a private seller I dont have the same peace of mind.

Get the car checked out by mechanic before you buy it and you'd be in the same position as you were before your car was stolen.
Just because your car was 'mint' doesn't mean it would never break.

Gurgle

cargotstolen wrote: »

its a 2003 hyundai lantra 1.6.

What is the book value?????????

https://www.ros.ie/evrt-enquiry/vrtenquiry.html?execution=e2s3
If its the 1.6CDI with (guess) 100,000 miles on the clock then the OMSP is ~€2k.

Take the €2.5k and run, they're being nice to you.

cargotstolen

bazz26 wrote: »

No offence OP but if you paid €5k for 03 Elantra 6 months ago, then you paid too much for it imo. A 9 year old Lantra is certainly not worth anywhere near €4k now either.

Looking at dondeal.ie there are three 2003 Elantras there for under €2k. Based on that then being offered €2500 sounds reasonable:
http://cars.donedeal.ie/find/cars/for-sale/Ireland/2003%20Hyundai%20Elantra?source=all

I paid 5k almost 12 mounts ago.

i appreciate your help as I am a complete novice and insurance illiterate. What value would you put on the car . it had 103k km and is october 03 model.

cargotstolen

but43r wrote: »

Get the car checked out by mechanic before you buy it and you'd be in the same position as you were before your car was stolen.
Just because your car was 'mint' doesn't mean it would never break.

and what exactly will he test for. how long will his test be.

Do you think he will not oversee anything????????????????

Do i go back to him then if car breaks down within a short period of time.

fasttalkerchat

cargotstolen wrote: »

I paid 5k almost 12 mounts ago.

i appreciate your help as I am a complete novice and insurance illiterate. What value would you put on the car . it had 103k km and is october 03 model.

You were ripped off by a grand last year.

The VRT value is heavily depreciated IMO. I would grab one of these in good condition for 2k!

cargotstolen

fasttalkerchat wrote: »

Ah, somewhere between 2500 and 3000 would be the right price. Can't see them going past 3k. If you find a top notch private sale at 3k I would dig in the heels at that.

.

Thank you very much for your help. Thats what I will do . Thanks again.

but43r

cargotstolen wrote: »

and what exactly will he test for. how long will his test be.

Do you think he will not oversee anything????????????????

Do i go back to him then if car breaks down within a short period of time.

No. But you had nobody to go to if your car that was stolen would have broke now too...
The mechanic would check general condition of the car and of course there is a chance that he could overlook something.

Anyway - you paid WAY too much for your car 12 month ago and you will get nowhere near that amount of money from the insurance company.
If you could squeeze out anywhere close to 3k you'd be doing very well...

cargotstolen

but43r wrote: »

No. But you had nobody to go to if your car that was stolen would have broke now too...
The mechanic would check general condition of the car and of course there is a chance that he could overlook something.

Anyway - you paid WAY too much for your car 12 month ago and you will get nowhere near that amount of money from the insurance company.
If you could squeeze out anywhere close to 3k you'd be doing very well...

Thanks ill try for 3k.ill accept the 2.5 worse case scenario.

cargotstolen

Thanks to all for taking the time to answer my question. I have a bigger insight now and ill accept between 2.5k and 3k.

I would not have been acertain with out your help.

Thanks again

lorraine

MugMugs

Give us a nudge on here if you need help fighting with the Insurer for a fair settlement.

We love a good fight around here.

ps - 10% off for the NCT is utter rubbish. If you can prove the fault was fixed then they've not got a leg to stand on.

fasttalkerchat

MugMugs wrote: »

Give us a nudge on here if you need help fighting with the Insurer for a fair settlement.

We love a good fight around here.

ps - 10% off for the NCT is utter rubbish. If you can prove the fault was fixed then they've not got a leg to stand on.

I assumed 10% was his Excess amount?

hohojojo

why not take the 2.5 -3k and if you want to go to a garage with it i cant see any garage not dropping the price for cash or is the insurance company going to pay the money to the private seller themselfs