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Insurance valuation for written off focus

  • 20-12-2013 3:17pm
    #1
    sport_nut
    Banned (with Prison Access) Posts: 26 ✭


    I hear it said that insurance companies often try and under appreciate the value of a written off car

    someone I know had their car destroyed by flooding lately

    its a 2003 petrol ford focus saloon with around 100 k on the clock

    between done deal and carzone , price range seems to be between 1000 euro and 3500 depending on various mitigating factors

    id have thought 2 k was about on the money myself

    ideas welcome on price but secondly , is their room for negotiation on valuation with the insurance company


Comments

  • #2
    visual
    Closed Accounts Posts: 3,267 ✭✭✭visual


    True value is always hard to get.

    Dealer prices have warranty and priced higher to allow for discounts or trade in.

    Private sellers asking price and selling price is different. Sometimes the seller drops price on add but most times its face to face with buyer.

    Insurance companies will have what they consider a trade price that is often much lower than owners expectations. Some times they do increase their offer but if they do its not by much.

    Factors like nct, condision of car, mileage, spec ect all come in to play.

    Just no way to easily answer what it is worth or how much will be offered.


  • #3
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭ironclaw


    You would be right on the average at €2000.


  • #4
    Truckermal
    Registered Users, Registered Users 2 Posts: 6,047 ✭✭✭Truckermal


    My 01 Avensis was wrote off last year and it was valued at 1800 euro even though it cost me 600 a month before, needless to say I was happy out..


  • #5
    Del2005
    Registered Users, Registered Users 2 Posts: 19,102 ✭✭✭✭Del2005


    Just refuse the first offer. Then look on the car sites for similar spec and mileage to use to get a higher price, unless you're the last poster.


  • #6
    Altreab
    Registered Users, Registered Users 2 Posts: 667 ✭✭✭Altreab


    sport_nut wrote: »
    I hear it said that insurance companies often try and under appreciate the value of a written off car

    someone I know had their car destroyed by flooding lately

    its a 2003 petrol ford focus saloon with around 100 k on the clock

    between done deal and carzone , price range seems to be between 1000 euro and 3500 depending on various mitigating factors

    id have thought 2 k was about on the money myself

    ideas welcome on price but secondly , is their room for negotiation on valuation with the insurance company

    You could also use the Revenue VRT site to find what they consider the OMSP :) just pop in the details of your car and up it will pop :)


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