Agreeing value of insurance write-off with insurers

Panda Moanium

A friend of mine is going through a process at the moment with his insurers after an accident. His 2011 car has been deemed to be a financial write-off. The garage the car was taken to showed him that according to the industry's used car value guide (not sure what it's called), his car, at the current mileage, should be worth so much (circa €22k). According to the garage, my friend should not accept less than this from the insurers, and indeed was making a case that the car should be worth a few hundred more as there were a couple of extras on it. A trawl through the various car buying sites would indicate that the figure would be what similar cars are going for, give or take a grand or two either way.

However insurance company is only offering a price nearly €3k less than the above, which is obviously significantly less than what my friend was expecting, and we haven't seen any other similar car for sale for this money.

My question is, is there any recourse to argue this with the insurance company (he's tried what I outlined above to no avail), is there any arbitrator that it can be referred to, or is it a case of biting the bullet and accepting what the insurer is offering?

Thanking you.....

bladespin

Just reject their offer, your friend should be getting the fair market value of their car.

L-M

I would imagine one could present the above information to the relevant insurance company and ask them where they are getting their values from.