Pre Accident Valuation of car by insurance co

Libra lass

I have had my car deemed CatD write off following an accident. It's a 2011 Renault Grand Scenic Dynamique 1.5dci TomTom with half leather seats. Equivalent cars currently for sale average at €14,139. Insurance have offered me €11,000 which I rejected. Asked for even one car of the same spec and ball park same mileage for €11k and I'd accept. Have been sent nearly 60 examples - only 3 are the same spec and two of those are in the North! The other is €12,750 and has double the mileage. I'm being taken for a fool here! Has anyone used an independent assessor for a case like this and would the insurer accept what he/she would say? I'm not backing down!!

Atlantic Dawn

Try having a look on the VRT calculator on the revenue.ie site to see what OMSP it gives for the car, this might help your case.

ironclaw

Just two notes from a recent experience:

- Make sure you are factoring any costs that your terms and conditions allow your insurance company to take off your pay out including excess etc. You'd be surprised what they can take from a pay out.

- Remember that the larger the pay out, the bigger effect its going to have further down the line when you want to renew or take out a new policy. €2k extra now, might cost you the same on a new policy. I'd weigh up taking a loan for the difference or jumping up a few years / spec. It may hit your pocket less later on. I'm not defending the insurance company, I'm just viewing it as a financial decision i.e. €2k more from the insurance company, larger renewal cost later versus taking a loan to jump up a few years and spec level, you're better off over the longer term.

- Cost of proving your cars value, which you are never going to get as the calculation is a mix of book and market value, versus the benefit. An independent assessment will take out of the extra you receive, which the insurance company are not even obliged to accept. You can likely appeal, but its more cost financially and for time.

TL;DR - Insurance companies have it sown up

R.O.R

Libra lass wrote: »

I have had my car deemed CatD write off following an accident. It's a 2011 Renault Grand Scenic Dynamique 1.5dci TomTom with half leather seats. Equivalent cars currently for sale average at €14,139. Insurance have offered me €11,000 which I rejected. Asked for even one car of the same spec and ball park same mileage for €11k and I'd accept. Have been sent nearly 60 examples - only 3 are the same spec and two of those are in the North! The other is €12,750 and has double the mileage. I'm being taken for a fool here! Has anyone used an independent assessor for a case like this and would the insurer accept what he/she would say? I'm not backing down!!

Outsourced to a UK company by any chance?

Complain to your insurance company about them and refuse to deal with the idiots who have no idea about the Irish used car market, and the insurance company should take it back in house and be easier to deal with.

Can't remember the name of the company, but I dealt with a UK company a few years ago - 4 letter name I think. Ended up hireing an independent assesor and settled at 7,675 euro more than the first, laughable offer.

Libra lass

R.O.R wrote: »

Outsourced to a UK company by any chance?

Complain to your insurance company about them and refuse to deal with the idiots who have no idea about the Irish used car market, and the insurance company should take it back in house and be easier to deal with.

Can't remember the name of the company, but I dealt with a UK company a few years ago - 4 letter name I think. Ended up hireing an independent assesor and settled at 7,675 euro more than the first, laughable offer.

It's an Irish assessor and I have got his name. Things moving on now - made complaint to higher powers in insurance co. and there's great to'ing and fro'ing of emails now! Thanks.

Libra lass

ironclaw wrote: »

Just two notes from a recent experience:

- Make sure you are factoring any costs that your terms and conditions allow your insurance company to take off your pay out including excess etc. You'd be surprised what they can take from a pay out.

- Remember that the larger the pay out, the bigger effect its going to have further down the line when you want to renew or take out a new policy. €2k extra now, might cost you the same on a new policy. I'd weigh up taking a loan for the difference or jumping up a few years / spec. It may hit your pocket less later on. I'm not defending the insurance company, I'm just viewing it as a financial decision i.e. €2k more from the insurance company, larger renewal cost later versus taking a loan to jump up a few years and spec level, you're better off over the longer term.

- Cost of proving your cars value, which you are never going to get as the calculation is a mix of book and market value, versus the benefit. An independent assessment will take out of the extra you receive, which the insurance company are not even obliged to accept. You can likely appeal, but its more cost financially and for time.

TL;DR - Insurance companies have it sown up

Cheers for the big picture info! Hadn't really considered that as an option. Just don't want the assessor/insurer to get away with this. I'm fortunate that I have the use of another car and am not under pressure to settle.

Libra lass

Atlantic Dawn wrote: »

Try having a look on the VRT calculator on the revenue.ie site to see what OMSP it gives for the car, this might help your case.

Thanks - I did that first thing and of course it brings the cost up considerably, not to mention the hassle for me. It's the principle of suggesting that I accept an offer based on a car which is not even for sale in this country that infuriates me!

aaakev

Are you claiming off your own insurance or a third party?

savagethegoat

I'd go back to them with the price of the ones in the North plus VRT and transport costs.....

Libra lass

aaakev wrote: »

Are you claiming off your own insurance or a third party?

Claiming off own insurance. Husband driving when accident happened. His insurance dealing with third party claim.

Libra lass

savagethegoat wrote: »

I'd go back to them with the price of the ones in the North plus VRT and transport costs.....

Holding fire for the moment. Copied correspondence to manager in charge of customer service and there's all kinds of action now! Awaiting contact from Claims Manager.