role of insurance accessor

Amprodude

If an accident occurs, car is written off and an insurance accessor comes out to view car, is it up to him to value how much the car was worth or do the insurance company estimate the value of what the car is worth before paying out?

coylemj

Amprodude wrote: »

If an accident occurs, car is written off and an insurance accessor comes out to view car, is it up to him to value how much the car was worth or do the insurance company estimate the value of what the car is worth before paying out?

Can I just clarify how things happened in the order in which you quoted them i.e.

1. accident occurs - no problem there
2. car is written off - says who?
3. an insurance accessor comes out to view car - there wouldn't be much point as I see it if the decision has already been made that the car is a write-off

My understanding of the procedure is that the assessor looks at the car and estimates how much it would cost to repair. The insurance company then decides (based on their valuation of the car) whether it is economic to repair the car or pay the owner what they feel it was worth before the accident.

I don't think it's the assessor's job to estimate the value of the car.

Stheno

coylemj wrote: »

I don't think it's the assessor's job to estimate the value of the car.

Yeah, I thought they have a book with standard figures produced for the motor industry that they use to base value on?

Amprodude

coylemj wrote: »

Can I just clarify how things happened in the order in which you quoted them i.e.

1. accident occurs - no problem there
2. car is written off - says who?
3. an insurance accessor comes out to view car - there wouldn't be much point as I see it if the decision has already been made that the car is a write-off

My understanding of the procedure is that the assessor looks at the car and estimates how much it would cost to repair. The insurance company then decides (based on their valuation of the car) whether it is economic to repair the car or pay the owner what they feel it was worth before the accident.

I don't think it's the assessor's job to estimate the value of the car.

Accident happened. Airbags all went off, car bonnet in bits and front axle driven up under car. Rear of car destroyed too. Car is 12 years old. Im getting offered less for a car thats worth more than what insurance company offered me. Have i any leg to stand on?

Stheno

Amprodude wrote: »

Im getting offered less for a car thats worth more than what insurance company offered me. Have i any leg to stand on?

Do you mean the insurance company are offering you less than what you believe the car to be worth?

Have you an excess on your policy?

coylemj

Amprodude wrote: »

Accident happened. Airbags all went off, car bonnet in bits and front axle driven up under car. Rear of car destroyed too. Car is 12 years old. Im getting offered less for a car thats worth more than what insurance company offered me. Have i any leg to stand on?

Unfortunately this is the usual outcome of a write-off situation. Most people think their car is worth more than it really is. The number of cars that sit on donedeal for months on end with stupid asking prices is proof if it's needed.

You may think your car is worth XXXX because you've taken care of it, had it serviced by a reliable and skilled mechanic, checked oil, and various fluids frequently and generally looked after it so as far as you're concerned, you shouldn't be quoted the average price for a model of that vintage but I'm afraid that's how the insurance business works. They look up your car on a table which gives them a value and that's it as far as they are concerned.

If your car is 12 years old then based on the damage you described I can't see that it would be worth repairing so you can either accept the offer from the insurance company or ask them if there is an arbitration procedure in the event that you disagree with their valuation.

Amprodude

Stheno wrote: »

Do you mean the insurance company are offering you less than what you believe the car to be worth?

Have you an excess on your policy?

I have excess of 250 euro. I dont know how they valued my car in the first place. Do they go by the motor trade?

mickdw

You can refuse the offer. Tell them you cannot replace the car, like for like for that money. Back that up with a selection of cars for sale ads etc proving that the car must be worth more.
Just because you paid more for the car does not mean it is worth more so be realistic anyway

Stheno

Amprodude wrote: »

I have excess of 250 euro. I dont know how they valued my car in the first place. Do they go by the motor trade?

Generally iirc there are standard valuations produced in the insurance industry.

What make/model was it and how much did they offer?
They may also have deducted the cost of scrapping it legally from your policy along with the excess

Amprodude

coylemj wrote: »

Unfortunately this is the usual outcome of a write-off situation. Most people think their car is worth more than it really is. The number of cars that sit on donedeal for months on end with stupid asking prices is proof if it's needed.

If your car is 12 years old then based on the damage you described I can't see that it would be worth repairing so you can either accept the offer from the insurance company or ask them if there is an arbitration procedure in the event that you disagree with their valuation.

Arent people better off not insuring it then if thats the way? I was going to buy new car but afraid i will loose too much to insurance company if i was to crash again.

coylemj

Is this a third party claim (someone else to blame) or are you claiming off your comprehensive insurance?

coylemj

Amprodude wrote: »

Arent people better off not insuring it then if thats the way? I was going to buy new car but afraid i will loose too much to insurance company if i was to crash again.

If the car is over a certain age then a lot of people would feel that it's not worth insuring fully comp. because you'll get toss all from the insurance company if it's written off. I wouldn't be bothered paying fully comp. on a 12 year old car, waste of money

mickdw

Amprodude wrote: »

Arent people better off not insuring it then if thats the way? I was going to buy new car but afraid i will loose too much to insurance company if i was to crash again.

The theory is that you should not be out of pocket in any way due to an accident. Keep fighting it if its genuinely not enough

Amprodude

coylemj wrote: »

Is this a third party claim (someone else to blame) or are you claiming off your comprehensive insurance?

I was the only one involved in accident nobody else. Its comprehensive insurance i have.

coylemj

Amprodude wrote: »

I was the only one involved in accident nobody else. Its comprehensive insurance i have.

OK, the problem with fully comp. on older cars is that the insurance company will often base the premium (for the fully comp. element of the policy) on your valuation of the car but when it comes to a claim in a write-off situation, they are legally only obliged to pay you the fair market value which as I've said earlier is usually less than what the owner thinks the car is worth.

You smashed up the front and the rear!! Did you accidently stray into a stock car race?

shinkansen

OSI wrote: »

The assessor works on behalf of the insurer to screw you over as much as he can.

FYP.!

Amprodude

coylemj wrote: »

You smashed up the front and the rear!! Did you accidently stray into a stock car race?

There was oil on road spun and the rest is history.

Amprodude

shinkansen wrote: »

FYP.!

It looks like it alright

ninty9er

Generally the assessor's role is to tick one of 2 boxes:

1. vehicle is beyond economical repair.
2. vehicle should be repaired.

ninty9er

coylemj wrote: »

OK, the problem with fully comp. on older cars is that the insurance company will often base the premium (for the fully comp. element of the policy) on your valuation of the car but when it comes to a claim in a write-off situation,

>90% of the premium is made up of 3rd party damage risk. The value of the car is generally not something insurance companies worry a whole load about.

MugMugs

shinkansen wrote: »

FYP.!

How inaccurate that was. Adjusters work for Insurance companies and Assessors for you.... However you are partially right insofar as most Loss Assessors will screw you over come payment time.