Car valuation

pastorbarrett

So I've long running insurance claim which has left me exasperated. My car was stolen at the end of last year (early December), and as of yet there's no resolution on the claim.

Today I paid for an online current valuation for my car from the supposed authoritative body on these matters. It gave me a current value of 3400, and outlined annual depreciation at 9%. Now considering my car was stolen in 2013, is it justifiable for me to tack on the amount the car has devalued in the interim, I.e. The 9% extra given the change in.calendar year. Or am I reaching a bit here?

Appreciate any insight folks...

colm_mcm

Your online check uses 9% depreciation! but who's to say what system the insurance company uses.
Real value decreases towards the end of the year rather than magically gets smaller on jan 1st.

ironclaw

Whats the exact car? Best estimate is the current market.

pastorbarrett

ironclaw wrote: »

Whats the exact car? Best estimate is the current market.

Yep, I'm just looking to bolster my position with as much evidence as possible. My car was an 04 colt - scarce year it seems on the second hand market, although the ecamples I could find seem about the price noted above, if not more in some instances.

ironclaw

meridiangroup wrote: »

Yep, I'm just looking to bolster my position with as much evidence as possible. My car was an 04 colt - scarce year it seems on the second hand market, although the ecamples I could find seem about the price noted above, if not more in some instances.

Seems pretty rare alright. That said, if I was guessing, I wouldn't put €3400 on it. I'd be thinking far closer to €3k. In either case, the insurance company will low ball you

pastorbarrett

ironclaw wrote: »

Seems pretty rare alright. That said, if I was guessing, I wouldn't put €3400 on it. I'd be thinking far closer to €3k. In either case, the insurance company will low ball you

Yep, expecting a serious low balling of course. Presumably the 9% depreciation is specific to car model, age etc. TBH, I'm a bit cluless in that regard, but I think it's perhaps a valid concern to presume that the car being for all intents and purposes a year older since the theft has caused some depreciation.

ironclaw

meridiangroup wrote: »

Yep, expecting a serious low balling of course. Presumably the 9% depreciation is specific to car model, age etc. TBH, I'm a bit cluless in that regard, but I think it's perhaps a valid concern to presume that the car being for all intents and purposes a year older since the theft has caused some depreciation.

Interesting point actually. The whole point of insurance is to get you back to where you were so to speak, so replace the car or of equal value. You could argue whether that is today or the day the incident took place. And does time factor into it i.e. If a payout is a year later, do you get the value on the day of the payout or the value on the day of incident. There could be quite a difference.

Is there an official line on that?

Idbatterim

what car is it?!